Partnership Compliance

Partnership Firm Tax Return Filing

Operating a Partnership Firm in India requires strict compliance with income tax and statutory regulations. Every partnership firm must file its Income Tax Return (ITR) annually, irrespective of profit or loss, and comply with applicable GST, TDS, EPF, and audit requirements.

At Thrive Tax Solutions, we provide end-to-end partnership firm tax compliance services, ensuring accurate filing, timely submissions, and maximum tax efficiency.

💰 Income Tax for Partnership Firms

  • Tax Rate: Flat 30% on taxable income
  • Surcharge: 12% if income exceeds ₹1 crore
  • Health & Education Cess: 4%
  • Minimum Alternate Tax (MAT): 18.5% (if applicable)
  • Interest on Capital: Deduction allowed up to 12%
  • Partner Remuneration: Allowed as per partnership deed

🧾 ITR Forms Applicable

  • ITR-4: Presumptive taxation (income up to ₹50 lakh)
  • ITR-5: Regular filing / Audit cases

📅 Due Dates for Partnership Firm ITR

  • Non-Audit Cases: 31st July
  • Audit Cases: 31st October

📌(Due dates are subject to extension by the Income Tax Department)

📂 Other Mandatory Compliances

  • GST Returns: GSTR-1, GSTR-3B, GSTR-9 / GSTR-4 (Composition)
  • TDS Returns: Form 24Q, 26Q, 27Q, etc.
  • EPF Returns: If employee threshold is met
  • Tax Audit: Mandatory if turnover exceeds ₹1 crore

⭐ Why Choose Thrive Tax Solutions?

  • Expert handling of partnership taxation
  • Accurate ITR & compliance filing
  • Audit support & notices handling
  • Transparent pricing & timely reminders
  • One-stop solution for GST, TDS & EPF

🛠 Our Services Include

  • Partnership Income Tax Return Filing
  • GST, TDS & EPF Return Filing
  • Tax Audit & Advisory Support
  • Accounting & Bookkeeping
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