Compliance

Partnership Tax Return Filing

Operating a Partnership Firm in India involves a range of crucial financial and legal responsibilities. It is imperative to adhere to various tax and regulatory requirements to ensure the smooth functioning and growth of your business. These obligations encompass filing Income Tax Returns, TDS Returns, GST Returns, EPF Returns, and occasionally undergoing a Tax Audit.

ITR Forms for a Partnership Firm

Key Features

ITR-4

ITR-4 is to be filed by those partnership firms which are a Total Income of up to 50 lakh and have income from Business and Profession, which is computed under presumptive basis.

ITR-5

ITR-5 is to be filed by those partnership firms who are required to get their account audited.If the firm is not subject to an audit, returns must be filed by 31st July.

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