Partnership Tax Filing

Partnership Tax Return Filing

All partnership firm are required file the income tax return, irrespective of amount of income or loss. Partnership firms are taxed as a separate legal entity under the Income Tax Act. 

Partnership firms are liable to pay income tax at the rate of 30% of total income

Partnership firms are required to file income tax return in Form ITR 5 .

The income tax return due date for most partnership firms is July 31 of the assessment year. Partnership firms required to get its accounts audited under the income tax Act must file the income tax return before the September 30th deadline.

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