Client Filing India Logo
Annual compliances for Partnership

Annual compliances for Partnership

 

Required timing - before due dates of compliance

Completely online – no need to visit office

CA assisted Partnership firm compliances for all your firm needs

 

WHY CHOOSE CLIENT FILING INDIA

  • Lowest Price and best service Guarantee.
  • No Hidden Cost .
  • India's most trusted compliance worthy portal

 

Registration Process of Partnership Firm

Although the registration of partnership firm is optional and , however, it is always a wise decision to register the partnership firm .

Partnership Firms in India are governed by the Indian Partnership Act, 1932. In order to register a partnership firm, you will have to submit an application form along with the fees to Registrar of Firms of the state in which the firm is situated. The application to be submitted should be duly signed by all the partners or their agents. Thereafter, Partnership deed is created on the stamp paper, which should be signed by all the partners with notarization

 

Documents required for the registration process

Following is the list of documents needed to register a Partnership Firm in India:

  • Application for registration of partnership 
  • Specimen of an affidavit.
  • Certified original copy of Partnership Deed.
  • Ownership documents of the business place if the property is owned.
  • In case the property is on rent, rental agreement as a proof of principal place of business.
  • Identity proof of all the partners involved which can be either of the documents out of PAN card/ Aadhar Card/ Driving License/ Voter ID/ Passport.

All these documents should be submitted to the registrar who further verifies the documents. If the registrar is satisfied with the documents, he will register the firm in Register of Firms and issue Certificate of registration.

Annual Compliances For Partnership Firm

A Partnership Firm is formed as a result of an association of two or more persons to carry on a business in the capacity of co-owners. Partnership Firms in India are governed by the Indian Partnership Act 1932. Section 4 of the Indian Partnership Act of 1932[1] defines partnership as “the relation between person who has agreed to share profits of a business carried on by all or any of them acting for all.” All the partners of the firm share the profits and losses in proportion of their respective owners, or as agreed between them. The limitations of sole proprietorship firm gave rise to Partnership firms. Further, in this blog, you shall learn about the compliances involved in Partnership Firms.

 

  • It is necessary for the partnership firm to obtain Permanent Account Number (PAN) and Tax Deduction Account Number from the Income Tax Department.
  • A Partnership firm needs to file ITR compulsory  irrespective of the revenue or loss or even with zero turnover
  • Partnership Firms having an annual turnover of over Rs. 50 lakhs are required to obtain a tax audit.
  • GST registration  and filing of GST  Returns is required for businesses whose annual turnover exceeds Rs 40 lakhs ( Rs 20 lakhs for North Eastern states).
  • Partnership firms are also required to file quarterly TDS returns as per TDS rules(if applicable).

Our best plans

Avatar-10

All inclusive

Basic

Turnover up to 50 lakhs

 

 

GST filing including GST9

2 Partners

Income tax filing of firm with filing of partners

Assistance & filing of  audit report

Book-Keeping and Accounting are not part of this package

Apply now
card

Rs.

25600

Avatar-10

All inclusive

Standard

Turnover up to 1 crore

 

 

GST filing including GST9

2-3 Partners

Income tax filing of firm with filing of partners

Assistance & filing of  audit report

Book-Keeping and Accounting are not part of this package

Apply now
card

Rs.

29100

Avatar-10

All inclusive

Premium

Turnover up to 2 crore

 

 

GST filing including GST9

2-4 Partners

Income tax filing of firm with filing of partners

Assistance & filing of  audit report

Book-Keeping and Accounting are not part of this package

 

 

 

Apply now
card

Rs.

31100

Frequently asked questions

What is the ITR for partnership firm?

Can partnership firm show profit less than 8%?

Is LLP required to maintain minutes?

What deductions can a partnership claim?

Can a partnership firm file loss return without audit?

Is partnership firm liable for tax audit?

Head office

Kolkata, West Bengal

36/A Kadapara, Kankurgachi, Kolkata-700054

Andhra Pradesh Branch

Andhra Pradesh

9th Phase, Rama Nilayam Road, Andhrapradesh-500072

Gangtok Branch

Gangtok

Below Supermarket (turning) M.G. Road , Gangtok, East Sikkim-737101.

Siliguri Branch

Siliguri

Ward 8 , Khalpara , Siliguri - 734005

Website Policies

Terms and Conditions

Refund Policy


Copyright @ 2020 cilentfilingindia | All right reserved