Mycorporation.inMycorporation.inMycorporation.in
Banner design - Mycorporation

Annual Compliances For Partnership

We are experts who know how to make the work as painless and seamless as possible for you.

Easy & Hassle Free Online Process

Dedicated Expert & Account Manager

Advisory Session From Experts

Why need to file Annual Compliance for Partnership.

As we have to intimate the department about our income and expenditure and to make our firm free from non-compliances. If we fail to file Income Tax Return and GST Return as per due date then penalty is imposed by the department.

back and forth bar case study icons-03
Which Income tax form need for the Income tax return filing

ITR Form -5 of Income tax is used for filling the Income tax return (Form-4 is applicable where the return is filed under presumptive taxation).

back and forth bar case study icons-03
What are the Due date to file forms?
Normal Income Tax Return- 31st July of Assessment Year.
Tax Audit Income Tax return- 30th September of Assessment Year.
GSTR- 3B- 20th of Next Month.
GSTR-1- 11th of Next Month for monthly and 13th of following month ending quarter for quarterly filers.

Our Packages

Basic - Annual Compliance for Partnership

Exclusive Government Fees
Starting at ₹ 10,000GST will be charged at 18%
  • Income Tax Returns

Standard - Annual Compliance for Partnership

Exclusive Government Fees
Starting at ₹ 25,000GST will be charged at 18%
  • Income Tax Returns and GST Compliance

Advance - Annual Compliance for Partnership

Exclusive Government Fees
Starting at ₹ 30,000GST will be charged at 18%
  • Income Tax Return with tax audit

Documents Required For Annual Compliances For Proprietorship

Invoices of Purchases and Sales during the year
Invoices of expenses incurred during the year
Credit Card Statements if Expenses are incurred by Partners on behalf on Firm
Bank Statements from 1 April to 31 March for all bank accounts in the name of Partners
Copy of GST returns filed (If Any)
Copy of TDS Challans Deposited (If Any)
Copy of TDS Returns filed (If Any)
Banner design - Mycorporation

Process Involved

STEP – 1
Documentation

Required documents are provided by client

STEP – 2

GST Returns

Checking GST Returns and reconciling with bank statements and books of Accounts

STEP – 3

TDS Returns

Checking TDS returns and reconciling with bank statements and books of Accounts

STEP – 4

Finalization of Balance Sheet

Balance Sheet and Profit and Loss is finalized based on data provided

STEP – 5

Income Tax Return

Income tax return is filed based on Prepared Balance Sheet

STEP – 6

Tax Audit

Tax Audit is done for those where turnover exceed 50 lakhs and 2 Crores

Save money on filing your annual compliance, have a word with experts and get it done now.

We are experts who know how to make the work as painless and seamless as possible for you.
FAQs

Yes, Partnership firms are required to maintain compliance under various regulations like LLPs and Company.

Partnership firm compliance mainly includes filing of income tax return. In addition to the basic compliance, partnership firms may also be required to comply with TDS regulations, GST regulations, ESI / PF regulations and others. The compliance requirement for a business would vary based on the type of entity, industry, state of incorporation, number of employees and sales turnover.

Partnership firms involved in a profession with gross receipts of more than fifty lakh rupees must complete a tax audit. Partnership firm involved in doing business must complete a tax audit if the sales turnover exceeds one crore rupees.

Under the GST regime, partnership firms having GST registration would be required to file monthly, quarterly and annual GST returns.

Quarterly TDS returns must be filed by partnership firms that have TAN and are required to deduct tax at source as per TDS rules.

ESI return must be filed by all partnership firms having ESI registration. ESI registration is required once the partnership firm employs over 10 employees.

Services

Other Business Services

Proprietorship Registration

Partnership Registration

Section 8 Company Registration

Business Registration

    What kind of business do you want to register ?*

    Why do you want to register?*

    Where would you like you Register your Company ?*

    How much do you want to invest in your company?*

    How many Business partners do you have ?*

    Do you need assistance in opening a Current Account?*

    Organisation Name

    Name*

    Email*

    Phone*

    Get Instant Quote

      What is the nature of your business?

      Where would you like you Register your Company ?

      Do you need assitance in opening a Current Account?

      Organisation Name*

      Our Packages*

      Name*

      Email*

      Contact*

      Get Instant Quote

        What is the nature of your business?

        Where would you like you Register your Company ?

        Do you need assitance in opening a Current Account?

        Organisation Name*

        Our Packages*

        Name*

        Email*

        Contact*

        Get Instant Quote

          What is the current name of your company?

          What is the proposed name of the company?

          Do you need assitance in opening a Current Account?

          Organisation Name*

          Our Packages

          Name*

          Email*

          Contact*

          Get Instant Quote

            What is the current name of your company?

            What is the proposed name of the company?

            Do you need assitance in opening a Current Account?

            Organisation Name*

            Our Packages

            Name*

            Email*

            Contact*

            Get Instant Quote

              Which of the following best describes you?

              What would you consider yourself to be one of the following?

              Our Packages

              What kind of entity do you have?

              Organisation Name

              Name*

              Email*

              Contact*

              Get Instant Quote

                Which of the following best describes you?

                What would you consider yourself to be one of the following?

                Our Packages

                What kind of entity do you have?

                Organisation Name

                Name*

                Email*

                Contact*

                Get Instant Quote

                  Why do you need ISO certificate ?

                  Select your preference

                  What is the nature of your business ?

                  Which ISO Certificate are you looking for ?*

                  Name*

                  Email*

                  Contact*

                  Get Instant Quote

                    Why do you need ISO certificate ?

                    Select your preference

                    What is the nature of your business ?

                    Which ISO Certificate are you looking for ?*

                    Name*

                    Email*

                    Contact*

                    Get Instant Quote

                      What do you want to Update?

                      What kind of entity do you have?

                      Our Packages

                      Name*

                      Email*

                      Contact*

                      Get Instant Quote

                        What do you want to Update?

                        What kind of entity do you have?

                        Our Packages

                        Name*

                        Email*

                        Contact*

                        Get Instant Quote

                          Which of the following best describes you?