Partnership Compliance your partnership firm, filed clean and on time.
End-to-end partnership firm compliance services in Mumbai and across India — firm income tax return filing, GST return filing, tax audit support, TDS compliance, partnership deed drafting and amendment, bookkeeping, and statutory registrations.
A partnership firm is one of the most widely used business structures in India for two or more people running a venture together. While it is simpler to operate than a company, a partnership firm is a separate assessable entity under the Income Tax Act and carries a defined set of compliances — income tax filing, GST obligations, TDS responsibilities, bookkeeping, and the upkeep of a properly drafted and stamped partnership deed.
The firm files its own income tax return, generally in ITR-5, and is taxed at the flat rate applicable to firms, while partners are separately assessed on the remuneration and interest they receive from the firm. Depending on turnover and whether presumptive taxation is opted for, a tax audit under Section 44AB may apply. Add periodic GST returns, TDS deduction and quarterly TDS returns, and the legal importance of registering the firm with the Registrar of Firms, and partnership compliance becomes a structured, year-round responsibility.
Our partnership firm compliance practice gives partners a single, organised compliance partner — accurate firm income tax return filing with allowable remuneration and interest planning, timely GST return filing, tax audit support where required, TDS compliance, bookkeeping and finalisation of accounts, partnership deed drafting and supplementary deed amendments, and guidance on firm registration and statutory registrations. We help partnership firms stay fully compliant, optimise the firm and partner tax position, and avoid the interest, penalties, and disputes that arise from neglected compliance.
Our Partnership Compliance Services
Firm Income Tax Return
Filing of the partnership firm income tax return in ITR-5 with remuneration and interest planning.
GST Return Filing
Periodic filing of GSTR-1 and GSTR-3B for GST-registered partnership firms, including nil returns.
Tax Audit Support
Tax audit under Section 44AB where the firm's turnover or professional receipts cross the thresholds.
TDS Compliance
TDS deduction, deposit, and quarterly TDS return filing for partnership firms liable to deduct tax.
Partnership Deed Drafting
Drafting of the partnership deed and supplementary deeds for changes in partners, capital, or terms.
Firm Registration
Registration of the partnership firm with the Registrar of Firms and intimation of subsequent changes.
Bookkeeping & Accounts
Maintenance of books of accounts and finalisation of firm financials for tax and GST filing.
Statutory Registrations
Shops and Establishment, professional tax, MSME, and other registrations relevant to the firm.
Our Partnership Compliance Workflow
Compliance Mapping
Review of the firm's turnover, GST status, TDS exposure, and deed to map all applicable compliances.
Books Finalisation
Bookkeeping, reconciliation, and finalisation of the firm's accounts for the financial year.
Return Preparation
Preparation of firm income tax and GST returns, with tax audit working papers where required.
Filing & Submission
Timely filing of income tax, GST, and TDS returns within the prescribed due dates.
Deed & Tracking
Updation of the partnership deed where needed and tracking of upcoming compliance deadlines.
Benefits of Regular Partnership Compliance
Frequently Asked Questions
A partnership firm must file its own income tax return, file GST returns if registered under GST, deduct and deposit TDS where applicable, maintain books of accounts, and undergo a tax audit where turnover crosses the prescribed threshold. The firm should also have a properly stamped partnership deed and keep it updated for any change in partners or terms.
Yes. Unlike a proprietorship, a partnership firm is a separate assessable entity under the Income Tax Act and files its own income tax return, generally in ITR-5. The firm is taxed at the flat rate applicable to firms, and partners are separately taxed on remuneration and interest received from the firm.
Registration of a partnership firm with the Registrar of Firms is not strictly mandatory, but an unregistered firm faces serious legal disadvantages, including the inability to sue third parties or partners to enforce contractual rights. Registration is therefore strongly recommended for legal protection.
A tax audit under Section 44AB is generally required when the firm's business turnover exceeds the prescribed threshold, or professional receipts cross the specified limit, or where a firm opting out of presumptive taxation declares income below the presumptive rate. The applicable thresholds should be confirmed for the relevant assessment year.
Yes. Whenever a partner is admitted, retires, or there is a change in profit-sharing ratio, capital, or other terms, the partnership deed should be amended through a supplementary deed and, where the firm is registered, the change should be intimated to the Registrar of Firms.
Keep Your Partnership Firm Compliant
Whether your firm's filings are current or pending, talk to our team for accurate income tax, GST, TDS, and deed compliance for your partnership firm.
Get Partnership Compliance Support or call +91 9819 000 511