Start your partnership firm annual filing at just INR 11,999/- only.
Ebizfiling helps you complete ITR, compliance, and yearly filings as per Income Tax rules.
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Partnership firm annual filing means submitting all required income tax and financial statements to the Income Tax Department every year. A partnership is not a separate legal entity, so the firm must file its own ITR, and partners must report their share of profit in their personal returns.
As per the Income Tax Act, every partnership firm must file its annual return, even if it has no income or made losses. Annual filing for partnership firm includes ITR filing, maintaining books of accounts, and reporting interest, remuneration, and capital details of the partners.
Partnership annual compliance ensures that your firm avoids penalties and maintains proper financial records. With Ebizfiling, you can complete partnership firm ITR filing online with professional document review and timely submission, ensuring your firm stays compliant.
Maintaining Accurate Records: Partnership firms must maintain accurate and up-to-date financial records of all business transactions, including receipts, invoices, and bills.
Appointing a Qualified Professional: Partnership firms must appoint a qualified professional, such as a chartered accountant or tax consultant to handle their annual filing and ensure compliance with legal and regulatory requirements.
Understanding Legal and Regulatory Requirements: Partnership firms must have a thorough understanding of legal and regulatory requirements to ensure compliance with all applicable laws and regulations.
Keeping Financial Statements Prepared: Partnership firms must keep their financial statements prepared and up-to-date, including balance sheets, profit and loss statements, and cash flow statements.
Timely Filing of Returns: Partnership firms must file income tax returns, GST returns, and annual returns with the relevant authorities within the stipulated timelines.
Payment of Taxes and Fees: Partnership firms must ensure timely payment of all applicable taxes and fees to avoid penalties and fines.
Conducting Regular Audits: Partnership firms must conduct regular audits to ensure the accuracy and integrity of their financial records and statements.
Maintaining Transparency: Partnership firms must maintain transparency in their financial transactions to ensure the smooth functioning of the business.
Appropriate Documentation: Partnership firms must maintain appropriate documentation of all financial transactions to provide evidence of compliance during audits or investigations.
Read More: Due Dates falling in the year 2023-2024
Accounting: Bookkeeping and accounting include maintaining all financial records, preparing statements, reconciling bank accounts, and keeping organized books. This helps a partnership firm track income, expenses, and run operations smoothly.
ITR Filing: Every partnership firm must file its annual income tax return. The due date is 31st July for non-audit cases and 30th September if a tax audit is required. The return reports the firm’s income, expenses, partner remuneration, and other financial details.
GST Return Filing: If the firm is GST registered, it must file returns regularly. This includes monthly GSTR-1 (11th of next month), GSTR-3B (20th of next month), and the annual return GSTR-9 (31st December). Filing on time helps avoid penalties and ensures accurate tax reporting.
Ebizfiling has a team of qualified professionals including CAs, CSs, lawyers, and compliance experts who handle Company annual filing, Accounting & bookkeeping, Income tax filing, and regulatory requirements for partnership firms. We provide complete compliance support in one place and offer solutions tailored to your firm’s needs. Our E-Retainer model gives end-to-end support beyond traditional CFO services, covering bookkeeping, GST returns filing, LLP Annual Filing, Company Annual filing and OPC Annual Filing. We are committed to keeping your partnership firm compliant and growth-ready.
For assistance or a free consultation, contact 09643203209 or email info@ebizfiling.com.
Annual filing keeps your partnership firm compliant with Income Tax rules by reporting income, interest, and partner details correctly every year.
Timely ITR filing helps avoid late fees, penalties, or notices from the Income Tax Department for incorrect or delayed submissions.
Updated records help your firm track expenses, profit, partner remuneration, and overall business performance more clearly.
Clean yearly filings improve trust with banks, vendors, and customers, helping your firm apply for loans or contracts smoothly.
Proper reporting ensures partners claim accurate deductions, and the firm avoids mismatch issues during tax processing or assessment.
Accurate filings help your partnership plan expansion, maintain transparent records, and stay ready for audits or funding.
Share Documents
Record Review
Draft Preparation
ITR Submission
Acknowledgement
We verify your financial statements, receipts, and expenses to prepare accurate partnership firm ITR filing.
We check partner remuneration, interest, and capital accounts to ensure correct reporting as per Income Tax rules.
We draft the ITR, reconcile your financial data, and prepare the final filing documents.
We file the ITR on the Income Tax portal and respond to any verification queries if required.
We share the acknowledgement and guide you on upcoming compliance deadlines for the next financial year.
We provide ongoing support for tax planning, record maintenance, and GST filing if your firm is registered under GST.
It is the yearly process of submitting the firm’s Income Tax Return along with financial details to maintain legal compliance. This ensures your partnership remains active and updated with the Income Tax Department.
Yes. Every partnership firm must file an ITR, even if there is no income or the firm made a loss. Non-filing may attract penalties and affect partner records.
Partnership firms generally file ITR-5, which is designed for firms, LLPs, AOPs, and BOIs. The form captures firm-level income, expenses, partner remuneration, and capital details.
Yes. Each partner must file their own ITR showing salary, interest, or profit share from the firm. This ensures accurate reporting in both firm and partner tax records.
Late filing attracts penalties, interest, and possible scrutiny from the Income Tax Department. It can also affect partners’ loan applications and compliance history.
No. Audit is required only if the firm’s turnover crosses the prescribed limit under Section 44AB. Professional firms also require audit if their receipts exceed limits.
You need bank statements, invoices, expense details, books of accounts, PAN, Aadhaar of partners, and the previous ITR. Additional records may be required depending on turnover.
Yes. Even if there is no business activity or income, the firm must file a nil return. Filing helps maintain clean compliance and avoids penalties.
The firm pays tax at a fixed rate, and partners are not taxed again on their profit share. However, remuneration and interest to partners are taxed individually.
Yes, but only as per the limits mentioned in the partnership deed and Income Tax norms. Excess or unapproved payments may be disallowed during filing.
If the firm is GST-registered, monthly or quarterly GST returns must be filed separately. These filings are mandatory and are in addition to the income tax return.
Yes. Revised or updated returns can be filed if errors are found, provided the Income Tax portal and law allow revision within the deadline.
If the documents are complete, the process usually takes 2 to 4 working days. Delays happen only if records are incomplete or corrections are needed.
Yes. Verification can be done using Aadhaar OTP or EVC, unless the firm is audit-required. Audit cases need a DSC for filing and attestation.
Yes, belated or updated returns can be filed if still permitted under the Income Tax Act. Ebizfiling guides you on whether your case is eligible.
Yes. Even if the firm did not operate, it must file annual returns. This avoids compliance issues and keeps the firm legally active.
Accurate filing builds a clean financial record that helps with loans, visas, assessments, and future business opportunities. It also avoids notices or mismatches.
Ebizfiling can help you compile basic books from bank statements and records. This ensures the firm still files a correct return for the year.
Yes, if their gross receipts exceed the limit prescribed under tax rules. Audit ensures accuracy of revenue, expenses, and payouts to partners.
We prepare accurate ITRs, check partner remuneration, reconcile books, and ensure full compliance. Our expert team handles everything end-to-end for your firm.
Start your partnership firm annual filing at just INR 11,999/- only.
Ebizfiling helps you complete ITR, compliance, and yearly filings as per Income Tax rules.
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