The Union Budget 2009-10 has introduced the tax provisions for LLP. According to it, LLP will be treated as Partnership firm for the purpose of tax and therefore will be taxed on the line of partnership firm.

To check out in detail , how LLP will be taxed , check out the "Tax on LLP" section

The designated partner shall be responsible for signing the income tax return of LLP, where for unavoidable reasons, such designated partner is not able to sign the same or where there is no designated partner, any partner can sign the return.

Yes, interest on contribution is allowed but the same should be allowed under the LLP Agreement. However the deduction against such interest can be availed by LLP from its taxable income only if conditions of section 184 and section 40(b) of the Income Tax Act are satisfied.

No, LLP Act 2008 has not prescribed any limitation/ restriction on the payment of remuneration to partners but the same can be provided under the LLP Agreement.
However the Income Tax Act prescribes the maximum limit up to which the deduction to the LLPs for such remuneration is allowed against its taxable income.
On First Rs 3,00,000 of book profit or in case of loss Rs 1,50,000 or at the rate of 90% of the book-profit, whichever is more
On the balance of book profit at the rate of 60%

LLPs are in the same parlance as partnership firms so far tax provisions are concerned and therefore Minimum Alternate Tax and Dividend Distribution Tax will not be applicable for LLP.

Pass through Taxation system is prevailing under Singapore and UK LLP System, where the income of LLP is taxable in the hands of the partners and not in the hands of LLP . 

Remuneration to partners will be treated as “Income from Business & Profession” and will be taxed accordingly..

If pursuant to provisions of LLP Agreement the interest of a partner are transferred to any third party, then it should be assessed to the other party’s income as ‘income under head other sources’. The provision of gift (reference to S/56 of the income tax act) may be levied on it, implying that though it would remain exempt in hands of relatives it would get taxed in hands of non relatives if it exceeds Rs 50000 p.a.

Yes, the transfer/assignment by any partner of his interest in the LLP shall be subject to tax laibility under the provisions of the Income Tax Act.

Intangible contribution shall be taxable but not at the time of introduction in LLP but only at the time of transfer,cessation and winding up of LLP.