Partnership Firm Compliance
Comprehensive Compliance for Partnership Firms
By NYAY SARTHI INDIA FILINGS
Mandatory Requirements:
• Annual ITR filing (all partnership firms)
• Tax audit mandatory if turnover exceeds ₹1 crore
• Additional compliance for corporate entities (LLPs/Companies):
MCA annual filings
Income tax returns
Sector-Specific Regulations:
✔ GST/TDS filings
✔ State-specific VAT/CST
✔ ESI/PF for eligible firms
✔ Service tax where applicable
Why Choose NYAY SARTHI INDIA FILINGS?
✓ PAN-India compliance management
✓ Specialized in partnership firm regulations
✓ End-to-end tax & regulatory support
✓ Industry-specific compliance solutions
Let our CA/CS experts handle your partnership firm’s compliance seamlessly.
Contact NYAY SARTHI INDIA FILINGS today!
Major Compliances for a Partnership Firm
Essential Compliance for Partnership Firms
By NYAY SARTHI INDIA FILINGS
1. GST Compliance
✓ Monthly/Quarterly returns (GSTR-1)
✓ Annual return (GSTR-9)
✓ Mandatory for GST-registered firms
2. Income Tax Filing
• Mandatory for all firms
• Tax audit required if turnover exceeds ₹1 crore
3. TDS Obligations
✓ Quarterly TDS returns (Form 24Q/26Q)
✓ Applies to firms with TAN registration
4. ESI Regulations
• Monthly ESI returns
• Registration compulsory for firms with 10+ employees
NYAY SARTHI INDIA FILINGS ensures 100% compliance across all regulations.
Tax Audit for Partnership Firm
Partnership Firm Audit Requirements
By NYAY SARTHI INDIA FILINGS
Mandatory Audit Thresholds:
✔ Businesses: Turnover exceeding ₹1 crore
✔ Professionals: Gross receipts over ₹50 lakhs
Our CA experts ensure seamless audit compliance for your partnership firm.
Due Date for Partnership Firm Tax Return
Partnership Firm ITR Deadlines
By NYAY SARTHI INDIA FILINGS
Filing Due Dates:
✓ Non-Audit Cases: 31st July
✓ Audit-Required Cases: 30th September
We ensure timely filing to avoid penalties for your partnership firm.
Most Important Compliances for a Partnership Firm
Dedicated Compliance Support for Partnership Firms
By NYAY SARTHI INDIA FILINGS
1. Personal Compliance Advisor
✓ Single-point expert for all compliance needs
✓ Available for continuous guidance
✓ Handles all regulatory filings
2. Comprehensive Accounting Services
• Year-end bookkeeping
• Financial statement preparation
• Balance sheet & P&L finalization
3. Tax Management
✓ Annual ITR filing
✓ Activity-specific documentation
✓ Audit support (if applicable)
4. GST Compliance
• Monthly/quarterly return filing
• Reconciliation services
• Annual return preparation
5. TDS Management
✓ Quarterly return filing (Form 24Q/26Q)
✓ Challan verification
✓ Certificate generation
Documents Needed
Essential Documents for Partnership Firm Compliance
By NYAY SARTHI INDIA FILINGS
Required Records:
✔ Purchase/Sale Invoices
✔ Expense Vouchers
✔ Partner’s Business Expense Credit Card Statements
Tax Documents:
• TDS Payment Challans
• Filed TDS Returns (Forms 24Q/26Q)
Financial Records:
✓ Complete Bank Statements (April-March)
✓ All Active Account Statements
Additional Documents:
As per specific compliance requirements
NYAY SARTHI INDIA FILINGS ensures organized documentation for seamless compliance.
Process of ITR file for a Partnership Firm
Partnership Firm Compliance Process
By NYAY SARTHI INDIA FILINGS
1. Documentation Phase
✓ Collect all financial records
✓ Verify purchase/sale invoices
✓ Organize expense proofs
2. GST Compliance
• File monthly/quarterly returns
• Reconcile input-output taxes
3. TDS Management
✓ Deposit deducted taxes
✓ File quarterly TDS returns
4. Financial Finalization
• Prepare trial balance
• Finalize balance sheet & P&L
5. Income Tax Filing
✓ Compute taxable income
✓ File ITR before deadline
6. Audit Requirements
• Conduct tax audit if applicable
• Submit audit report with ITR
*NYAY SARTHI INDIA FILINGS ensures end-to-end compliance in 6 streamlined steps.*
Rate of Income Tax for Partnership Firm
Tax Structure for Partnership Firms & LLPs
By NYAY SARTHI INDIA FILINGS
Base Tax Rate:
✓ Flat 30% on taxable income
Additional Levies:
• Surcharge:
12% of tax (if income exceeds ₹1 crore)
• Cess:4% on (tax + surcharge)
Our tax experts ensure accurate computation and compliance.