Partnership firms are required to file income tax return each year. IndiaFilings offers an easy process for maintaining accounts and filing partnership firm income tax return from Rs.9899/-
From Rs.9899 /- all inclusive fees
EMI: Rs.884 for 12 months*
Partnership firms is among the most common types of business entity in India wherein two or more persons join together to undertake a profit for business. Under Income Tax Act, a partnership firm is defined as “Persons who have entered into a partnership with one another are called individually "partners" and collectively "a firm", and the name under which their business is carried on is called the "firm name". Partnership firms are required to file income tax return in form ITR 5 each financial year. To file the income tax return of a partnership firm, book of accounts must be maintained and tax audit may have to be obtained based on various criterias. IndiaFilings provides a comprehensive compliance and income tax return filing service for partnership firms. Get in touch with an IndiaFilings Tax Expert to file the income tax return for your partnership firm today.
An audit would be required for a partnership firm if the total sales turnover is over Rs.1 crore during the financial year. In the case of a professional firm, audit would be required if total gross receipts is more than Rs.50 lakhs during the financial year under assessment.
The income tax return of a partnership firm that doesn’t require audit is due on 31st July. In case the income tax return of a partnership firm needs to be audited as per Income Tax Act, then the return would be due on 30th September.
Your partnership firm will be assigned a dedicated Compliance Manager who will be a single point of contact to help you maintain the compliance for your partnership. You can get in touch with your Compliance Manager at anytime and get assistance on matters related to your business compliance.KNOW MORE
Partnership firms are required to maintain accounts and prepare financial statements at the end of each financial year. Our Compliance Manager will help maintain accounts and will prepare the financial statement for your partnership firm at the end of financial year.
Income tax return of a partnership firm must be filed at the end of each financial year. Based on the nature of business activity, our Compliance Manager will prepare all the documents and file your partnership firm tax return.
GST return must be filed by all entities having GST registration. In case your partnership firm has GST registration, our Compliance Manager can help you file GST returns at an additional cost based on volume.
TDS return must be filed by all entities required to deduct tax at source and having TAN registration. If your partnership firm has TAN registration, our Compliance Manager can help file TDS return at an additional cost.
Identity and address proof will be required for all directors and shareholders of the company to be incorporated. In case of Indian nationals, PAN is mandatory. For foreign nationals, apostilled or notarised copy of passport must be submitted mandatorily. All documents submitted must be valid. Residence proof documents like bank statement or electricity bill must be less than 2 months old.
All companies must have a registered office in India. To prove access to the registered office, a recent copy of the electricity bill or property tax receipt or water bill must be submitted. Along with the utility bill, rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
Income tax return filing and compliance management for a partnership firm with a turnover of less than Rs.10 lakhs per annum.
From Rs.9899 /- all inclusive fees
EMI: Rs.884 for 12 months*
Income tax return filing and compliance management for a partnership firm with a turnover of less than Rs.50 lakhs per annum.
From Rs.12899 /- all inclusive fees
EMI: Rs.1152 for 12 months*
Income tax return filing and compliance management for a partnership with a turnover of less than Rs.100 lakhs per annum.
From Rs.19899 /- all inclusive fees
EMI: Rs.1777 for 12 months*
IndiaFilings.com can help file the mandatory filing for your Partnership firm and maintain annual compliance.
Got questions? Request a call from an IndiaFilings Business Advisor.Let's talk!
An IndiaFilings Compliance Expert will prepare the Tax Return for your Partnership based on the financials and performance during the previous financial year.
Once the Income Tax Return is prepared in the requisite format, the Client's Finance Team can verify the prepared return and affix the digital signature.
Once the Tax Return is prepared and verified, the Return can be filed with the Income Tax Department along with the necessary attachments.
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