Income Tax Return Filing (Partnership)

Partnership firms should file returns using ITR-5. The filing process generally includes:

1. Register the firm on the Income Tax portal
2. Prepare balance sheet & profit & loss statement
3. Compute taxable income and pay taxes online
4. Download and fill Form ITR-5, upload with designated partners' DSC and e-verify

GST Registration for Partnership Firms

GST registration is mandatory if the firm's turnover crosses the statutory threshold (typically mentioned under GST law). Certain businesses (e-commerce, interstate supplies, etc.) require registration irrespective of turnover.

Documents for GST Registration

• Passport-size photographs of partners
• PAN of partners and firm
• Aadhaar of partners
• Mobile number and email id of partners
• Partnership deed
• Address proof of firm (bank stmt/utility bill/rent agreement not older than 2 months)
• NOC from owner if rented
• Primary signatory authorization letter

GST Registration Steps (High Level)

1. Visit GST portal and fill Part A (PAN, mobile, email).
2. Verify via OTP, upload documents and complete Part B.
3. Receive ARN and track application status.
4. Upon approval, GSTIN is issued; officer may request additional docs.