Important Dates: Last date for Income Tax Return Filing: Dec 31st | GST Filing Deadline: Nov 30th | Deadline for Advance Tax Payment: Dec 15th | Contact us to avoid penalties!

Income Tax

Income Tax Return (Partnership Firm)

Partnership Firm ITR Filing Service ensures that all partnership firms in India file their Income Tax Return (ITR-5) annually, regardless of profit or loss. Our expert service provides accurate tax computation, maximizes deductions, and helps avoid penalties for non-filing. We guide you through the process, including TDS reconciliation, claiming eligible deductions under various sections, and filing ITR-5 seamlessly. Our team ensures legal compliance under the Income Tax Act, providing peace of mind while you focus on your business. Filing the ITR strengthens financial credibility, helping businesses access loans and other financial services.

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Services Included
  • Preparation & Filing of ITR-5 for Partnership Firm
  • Computation of Taxable Income & Tax Liability
  • Adjustment of Deductions & Exemptions
  • TDS Reconciliation & Advance Tax Calculation
  • Preparation of Balance Sheet & Profit & Loss Account
  • Guidance on Tax Planning & Compliance Advisory
Services Excluded
  • Filing of GST Returns (available separately)
  • Tax Audit & Certification (required if turnover exceeds ₹1 crore)
  • Representation in Income Tax Scrutiny or Appeals
  • Bookkeeping & Accounting Services (available separately)
Documents Required **
  • PAN of the Partnership Firm & Partners
  • Partnership Deed & Firm Registration Certificate
  • Bank Statements & Financial Records
  • Balance Sheet & Profit & Loss Statement
  • TDS Certificates & Advance Tax Payment Proof (if applicable)
  • GST Filings (if applicable)

** Documents listed are indicative. Specific requirements will be provided during execution based on your profile and service scope.

Benefits
Who Should Buy
  • Registered & Unregistered Partnership Firms filing ITR under IT Act
  • Firms with business income, capital gains, or professional earnings
  • Partnerships wanting to maximize tax savings & ensure compliance
  • Firms applying for loans & financial approvals
  • Businesses needing a smooth & accurate tax filing process
Turn Around Time (TAT)*
  • Initial Consultation & Document Collection: 2-3 working days
  • ITR Preparation & Review: 5-7 working days
  • Filing & Acknowledgment Receipt: 7-10 working days

* TAT is indicative and depends on timely and accurate data. No liability shall arise for delays caused by data lapses, regulatory changes, system disruptions, or circumstances beyond control.

How it's done

Step 1

Consultation & Data Collection

Step 2

Tax Computation & Deduction Adjustments

Step 3

Preparation of ITR-5 & Verification

Step 4

Filing of Income Tax Return

Step 5

Confirmation & Compliance Advisory

FAQs

Partnership firms must file ITR-5 under the Income Tax Act.
Yes, even if there is no income or loss, an ITR must be filed.
Non-Audit Firms: 31st July, Audit Cases (Turnover > ₹1 crore): 30th September
No, a tax audit is required only if turnover exceeds ₹1 crore (₹10 crore for digital transactions).
Yes, deductions like business expenses, depreciation, and partner salaries can be claimed.
A late fee up to ₹10,000 applies, along with interest on unpaid taxes.
Yes, partners must file individual ITRs for their share of income from the firm.

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What our clients say

The team provided exceptional financial advice, helping us streamline our tax filing and improve our compliance. Their knowledge and timely support exceeded all expectations.

Their expertise in tax planning and advisory has been invaluable in helping us optimize our financial strategy. We are grateful for their proactive guidance and professional service.

Their timely advice and professional approach have been instrumental in navigating complex tax filings and optimizing financial outcomes for our business.

Our experience with this firm has been excellent. They have provided valuable insights on financial planning and have always been available to address our concerns.

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