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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. Arcedo provides a comprehensive compliance and income tax return filing service for partnership firms. Get in touch with an Arcedo Tax Expert to file the income tax return for your partnership firm today.

Tax Audit for Proprietorship Firm

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.

Due Date for Proprietorship Firm Tax Return

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.

Partnership Tax Return

Partnership firms are required to file income tax return each year. Arcedo offers an easy process for maintaining accounts and filing partnership firm income tax return from Rs.9,999/-

  • Dedicated Advisor
  • Accounting
  • GST Return Filing
  • Income Tax Return Filing
  • TDS Return Filing

Income Tax Return Filing

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.

Accounting & GST Return Filing

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.

Dedicated Advisor

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.

TDS Return Filing

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.

Basic

9,999

Income tax return filing, LEDGERS accounting software and compliance management for a partnership firm with a turnover of less than Rs.10 lakhs per annum.

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Startup

12,999

Income tax return filing, LEDGERS accounting software and compliance management for a partnership firm with a turnover of less than Rs.50 lakhs per annum.

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