Partnership Firm Compliance


Organization Firm Compliance Partnership is an understanding between at least two individuals who have consented to share the benefits of a business carried on by every one of them together or any of them representing all. Individuals who have gone into associations are independently called "accomplices" and by and large, a "firm." The accomplices must consent to share the benefits of the business did by the organization firm. Organizations in India are enrolled under the Partnership Act, 1932. Consistence implies fitting in with an arrangement, standard or law. Personal Tax Returns Partnerships need to document Income Tax returns in Form ITR 5. Associations that don't require review need to document Income Tax Return inside 31st July of the year. Organizations that require Audit must record their Income Tax Returns inside 30th September of the year. Keeping up fiscal reports is likewise compulsory. Review An Audit would be required if the yearly turnover of the organization is more than Rs. 2crores. GST Filing Partnerships having GST Registration will be required to document month to month, quarterly and yearly GST Returns. TDS Filing Partnerships that have TAN and are required to deduct charge at source must record quarterly TDS returns.

  • BASIC
     2999 /Mo
  • Includes Book keeping
  • Preparation of FinancialStatements
  • GST Return Filing
  • TDS Return filing
  • Income Tax Return For turnover upto Rs. 40 lacs
  • Government filing Fees and Taxes as actual
  • STANDARD
     4999 /Mo
  • Includes Book keeping
  • Preparation of FinancialStatements
  • GST Return Filing
  • TDS Return filing
  • Income Tax Return For turnover upto Rs. 80 lacs
  • Government filing Fees and Taxes as actual
  • PREMIUM
     5999 /Mo
  • Includes Book keeping
  • Preparation of FinancialStatements
  • GST Return Filing
  • TDS Return filing
  • Income Tax Return For turnover upto Rs. 100 lacs
  • Government filing Fees and Taxes as actual

Process

Documents

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Compiling documents

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Return filing

We'll file all the madatory documents from your side.

Deliverables

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FAQ'S

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Partnership Deed Proof of Registered Address Minimum two person as partner NOC from the owner of premises
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Pan card of the all the partners Address proof of all the partners Colour photo of all the partners Signature on statutory form
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To open the bank account in the name of Sole Proprietorship Firm, Reserve Bank of India mandates that the proprietor need to provide two forms of registration for the Proprietorship along with the PAN Card, identity proof and address proof of the Proprietor. The two forms of registration can be any two of the following: MSME registration, GST registration, Registration under Shop & Establishment Act, Professional license, Chartered Accountant certificate or others as provided in the RBI’s Know Your Customer norms or the requirement of the respective Banks.
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One can start a Sole Proprietorship Firm with any amount of Capital. An amount sufficient to commence the business should be introduced. As there is no restriction on infusion or withdrawal of amount, the proprietor can change capital anytime. Introducing the capital in Business is the sole decision of an owner of the firm i.e. the Proprietor.
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The Proprietor must be an Indian citizen and a Resident of India. There is no approval required prior to the commencement of business. But, Non-Resident Indians (NRI) and Persons of Indian Origin can invest or start sole their proprietorship business only with prior approval of the Government of India.