Keep your partnership firm compliant every year.
Partnership firms — whether registered or unregistered — have annual income tax, TDS, and GST compliance obligations. Missing deadlines attracts interest, penalties, and prosecution. Golden Verdict manages every filing.
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Pricing tailored to your specific requirements
Compliance Filing Done in 7 Days*
*Timeline is indicative and may vary based on document verification and government processing.
What is Partnership Firm Annual Compliance?
A partnership firm — governed by the Indian Partnership Act, 1932 — is treated as a separate tax entity under the Income Tax Act, 1961. The firm's net profit is taxed at a flat 30% plus 12% surcharge (if income exceeds ₹1 crore) plus 4% health and education cess. Partners do not pay individual tax on their share of profit (exempt under Section 10(2A)) but pay tax on salary, commission, bonus, and interest received from the firm. Partnership firms must file ITR-5 annually, maintain books of accounts under Section 44AA, get accounts audited under Section 44AB if turnover exceeds ₹1 crore (or ₹10 crore for digital transactions), pay advance tax in quarterly instalments, and comply with TDS and GST obligations. Unregistered firms (under the Partnership Act) have the same income tax obligations as registered firms — but cannot sue third parties in courts.
Annual Filing Calendar
ITR-5 (Income Tax Return)
Due: July 31 (no audit) / October 31 (audit)
Penalty if late: ₹5,000 late fee + interest under 234A
Tax Audit Report — Form 3CB-3CD
Due: September 30
Penalty if late: 0.5% of turnover, max ₹1.5 lakh
Advance Tax — 4 instalments
Due: Jun 15, Sep 15, Dec 15, Mar 15
Penalty if late: Interest @ 1%/month under 234B/234C
TDS Returns (24Q/26Q/27Q)
Due: Quarterly (May 31, Aug 31, Nov 30, May 31)
Penalty if late: ₹200/day late fee + interest @ 1.5%/month
GST Returns (GSTR-1, GSTR-3B)
Due: Monthly (11th / 20th) or quarterly (QRMP)
Penalty if late: ₹50/day (₹20/day for nil return) + interest
GSTR-9 (Annual GST Return)
Due: December 31
Penalty if late: ₹200/day, max 0.5% of turnover
What We Handle for You
Quarterly advance tax computation and payment advisory — prevents 234B/234C interest
Quarterly TDS return filing (Form 24Q for salary, 26Q for non-salary deductions)
GST return filing — GSTR-1, GSTR-3B monthly or quarterly (QRMP scheme advisory)
Tax audit under Section 44AB — preparation of Form 3CB-3CD, Balance Sheet, P&L
ITR-5 preparation and filing with all partner remuneration and interest schedules
Partner-level ITR advisory — ensuring Section 40(b) limits are correctly applied
Annual renewal of GST registration and address update if required
How It Works
Share Your Details
Fill a short form or call us. We collect your requirements and all documents online — no physical visit needed.
Expert Assignment
A dedicated specialist with expertise in your service category is assigned to your case within 24 hours of payment.
Work in Progress
Your expert prepares documents, files applications with the relevant authority, and follows up on your behalf.
Delivery
Your registration certificate, legal document, or filed return is delivered digitally to your Golden Verdict dashboard.
Get Your Full-Year Compliance Without Any Hassle
ITR-5 filing, quarterly TDS returns, GST return filing, tax audit (if applicable), advance tax computation, and partner remuneration planning.
Pricing
Custom Quote
Pricing tailored to your specific requirements
Get Your Full-Year Compliance Without Any Hassle
ITR-5 filing, quarterly TDS returns, GST return filing, tax audit (if applicable), advance tax computation, and partner remuneration planning.
Pricing
Custom Quote
Pricing tailored to your specific requirements
Why Golden Verdict For
Partnership Firm Annual Compliance?
Many partnership firms miss critical deadlines — particularly advance tax instalments on June 15, September 15, December 15, and March 15 — attracting avoidable interest under Sections 234B and 234C. Golden Verdict manages your firm's complete annual compliance calendar: computing advance tax liability each quarter, filing TDS returns (Form 24Q/26Q) quarterly, reconciling GST input credit, and preparing the partnership's ITR-5 with all partner-level schedules. For firms above the audit threshold, we also prepare Form 3CB-3CD (tax audit report) and the accompanying Balance Sheet and Profit & Loss Account.
Partnership compliance is simple when managed proactively. Golden Verdict ensures your firm never misses a deadline.
Frequently Asked Questions
What is the income tax rate for a partnership firm?+
When is a tax audit mandatory for a partnership firm?+
Is ITR-5 the correct form for a partnership firm?+
What is the due date for ITR-5 filing?+
Are GST returns mandatory for partnership firms?+
Ready to get your Partnership Firm Annual Compliance?
Partnership firms — whether registered or unregistered — have annual income tax, TDS, and GST compliance obligations. Missing deadlines attracts interest, penalties, and prosecution. Golden Verdict manages every filing.
“Partnership compliance is simple when managed proactively. Golden Verdict ensures your firm never misses a deadline.”
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