Call us anytime
Comprehensive legal, tax, and compliance services managed entirely online by our elite team of certified CAs and CSs.
Annual compliance for a partnership firm involves fulfilling various legal and financial obligations to ensure continued operation and adherence to Indian regulations. These requirements include filing income tax returns (ITR-5), maintaining proper books of accounts, and complying with GST regulations if applicable.
Partnership firms must also conduct tax audits if turnover exceeds prescribed limits and comply with EPF/ESI regulations for employees. At Compliance 360, we provide comprehensive compliance solutions to help partnership firms meet all statutory requirements efficiently and avoid penalties.
Accurate financial records build trust among partners, creditors, investors, and stakeholders through clear business operations visibility.
Proactive compliance helps identify and address legal, financial, and regulatory risks before they escalate into serious issues.
Compliant firms attract investors, lenders, and venture capitalists who prefer working with legally sound businesses.
Strong compliance record enhances reputation with banks, suppliers, customers, and government authorities.
Adherence to regulations promotes ethical management aligned with partners' interests and stakeholder expectations.
Prevents disruptions from legal disputes, penalties, or regulatory issues ensuring smooth operations.
Form: ITR-5 for partnership firms
Frequency: Annual
Details: Reports firm's income, expenses, partner remuneration, interest, and tax liability
Tax Rate: 30% flat rate on total income
Forms: GSTR-1 (outward supplies), GSTR-3B (summary return)
Frequency: Monthly/Quarterly based on turnover
Annual: GSTR-9 (if turnover > ₹2 crore)
Reconciliation: GSTR-9C (if turnover > ₹5 crore)
Forms: 24Q (salary), 26Q (non-salary), 27Q (non-residents)
Frequency: Quarterly
New Section 194T: 10% TDS on partner payments > ₹20,000 annually
Certificate: Issue Form 16/16A to deductees
Threshold: Turnover > ₹1 crore (₹10 crore if cash < 5%)
Professional: Receipts > ₹50 lakh
Form: 3CA/3CB with 3CD by Chartered Accountant
Due: September 30th (with ITR)
EPF: Mandatory if 20+ employees, monthly returns
ESI: Mandatory if 10+ employees, half-yearly returns
Payment: Monthly contributions by 15th
Returns: ECR for EPF, Form 5 for ESI
Mandatory: For all partnership firms
Includes: Ledgers, journals, vouchers, invoices, bank statements
Purpose: Tax filing support, financial health assessment, audit readiness
Retention: Maintain for minimum 6 years
| Compliance | Due Date | Remarks |
|---|---|---|
| Advance Tax - Instalment 1 | June 15, 2024 | 15% of estimated tax liability |
| Advance Tax - Instalment 2 | September 15, 2024 | 45% of total tax liability |
| Advance Tax - Instalment 3 | December 15, 2024 | 75% of total tax liability |
| Advance Tax - Instalment 4 | March 15, 2025 | 100% of total tax liability |
| Tax Audit Report (Form 3CD) | September 30, 2025 | If turnover > ₹1 crore (₹10 crore if cash < 5%) |
| ITR Filing (Non-Audit Cases) | September 15, 2025 | For firms not requiring audit |
| ITR Filing (Audit Cases) | October 31, 2025 | For firms requiring tax audit |
| Transfer Pricing (Form 3CEB) | November 30, 2025 | If involved in international transactions |
GSTR-1: 11th of next month
GSTR-3B: 20th of next month
GSTR-1: 13th of next month
GSTR-3B: 22nd/24th of next month
| Quarter | Due Date | Forms |
|---|---|---|
| Q1 (Apr-Jun) | July 31, 2025 | 24Q, 26Q |
| Q2 (Jul-Sep) | October 31, 2025 | 24Q, 26Q |
| Q3 (Oct-Dec) | January 31, 2026 | 24Q, 26Q |
| Q4 (Jan-Mar) | May 31, 2026 | 24Q, 26Q |
Gross income minus allowable expenses and deductions
Base Tax: 30% of total income
12% surcharge: If total income exceeds ₹1 crore
4% cess: On income tax + surcharge
Partnership firms must file ITR-5 even with zero income or losses to:
| Return | Purpose | Frequency | Due Date |
|---|---|---|---|
| GSTR-1 | Details of outward supplies | Monthly/Quarterly | 11th/13th of next month |
| GSTR-3B | Summary return with tax payment | Monthly/Quarterly | 20th/22nd-24th of next month |
| GSTR-9 | Annual return | Annual | December 31st |
| GSTR-9C | Reconciliation statement | Annual | December 31st (if turnover > ₹5 crore) |
Turnover: Above ₹5 crore
Filing: Monthly returns
Suitable for: Large businesses
Turnover: Up to ₹5 crore
Filing: Quarterly returns
Suitable for: Small-medium businesses
Turnover: Up to ₹1.5 crore
Filing: Quarterly returns
Suitable for: Small businesses
Effective: April 1, 2025 onwards
Provision: 10% TDS on payments to partners if aggregate exceeds ₹20,000 annually
Covers: Salary, remuneration, commission, bonus, interest on capital/loans
Forms: Deducted at source and reported in TDS returns
Mandatory Tax Deduction Account Number for TDS operations
At earlier of: Credit to payee's account OR actual payment
By 7th of next month (30th April for March payments)
Forms 24Q (salary), 26Q (non-salary), 27Q (non-residents)
Form 16 (salary) and Form 16A (non-salary) within 15 days of filing
Register with EPFO/ESIC portals and obtain credentials
Compute employer & employee contributions accurately
Make online payments through portals
Submit ECR (EPF) or Form 5 (ESI) with employee details
Download and preserve filing acknowledgment
Update employee changes and maintain records
All partnership firms must maintain proper books of accounts as per:
Financial Insight
Better business decisions
Audit Ready
Easy tax audit compliance
Partner Trust
Transparent financial sharing
Loan Approval
Easier funding access
Partnership firms must comply with specific requirements when certain events occur. These event-based compliances ensure legal validity and updated records with authorities.
Supplementary deed and partner consent required for capital increase/decrease
Amended partnership deed and tax implications consideration
Additional GST registration if operating in new states
Legal procedures, settlement, and final tax returns
Turnover: Below ₹1 crore
Cost: ₹15,000 - ₹50,000
Turnover: ₹1-5 crore
Cost: ₹50,000 - ₹2,00,000
Turnover: Above ₹5 crore
Cost: ₹2,00,000+
Note: Costs vary based on specific requirements, professional fees, and additional services needed.
Complete ITR-5 preparation and filing with optimal tax planning, deduction claims, and audit compliance if required.
Monthly/quarterly GST return filing, annual returns, reconciliation statements, and input tax credit optimization.
Complete TDS compliance including new Section 194T for partners, quarterly returns, and certificate issuance.
EPF/ESI Filing
Employee benefits compliance
Tax Audit
CA audit if turnover exceeds limits
Accounting
Bookkeeping and financial records
Expert Support
Dedicated compliance assistance
Partnership Deed
Preparation & amendments
Registrations
GST, TAN, EPF, ESI
Event Compliance
Partner changes, address updates
Legal Compliance
Registrar of Firms filings
Partner with Compliance 360 for comprehensive partnership firm compliance management, ensuring legal adherence while you concentrate on strategic business development.
Connect with Compliance 360 and let our experts handle the legal hassle while you grow your business.
Lets ConnectWe're Here To Help You
| Form | Applicability | Deadline |
|---|---|---|
| ITR-4 (Sugam) | Presumptive income (Turnover ≤ ₹3 crore for business, ≤ ₹75 lakh for profession) | July 31 |
| ITR-5 | Regular books maintained, audit required, turnover above presumptive limits | October 31 (if audit required) |
Our experienced tax and legal professionals guide you through partnership firm compliances, from registration to annual filings and ongoing statutory requirements.
We follow a smooth, online-friendly process that allows easy document sharing, clear communication, and hassle-free compliance management.
With timely reminders and proactive follow-ups, we help you avoid penalties, late fees, and legal complications.
We offer clear pricing with no hidden charges, making compliance planning simple and cost-effective for partnership firms.
From income tax returns and GST to changes in partnership deeds and regulatory updates, we manage everything for you.
By handling your compliance burden, we help you focus on business growth, stability, and long-term success with complete peace of mind.
Compliance360 - Copyright 2026. All rights reserved.
