Partnership Compliance
A partnership firm has lighter compliance than a company — but it's not zero. Books, the firm's ITR, GST and TDS returns where applicable, and deed updates all need handling. We run your partnership's recurring compliance.
Starts at
₹999/mo
Professional fees, government fees, late fees, penalties, payroll size, transaction volume, number of employees, entity type, filings and compliance complexity may vary.
Timeline
Ongoing + annual ITR
Documents
Deed, books & tax data
Books + firm ITR
GST/TDS where applicable
Deed updates
Expert-reviewed
Pricing
Partnership compliance
Scope depends on turnover, GST/TDS applicability and audit. The firm's tax and any audit are separate. Annual ITR can be bundled.
Essentials
Books + ITR
+ GST | from
- Bookkeeping
- Firm ITR (ITR-5)
- Compliance calendar
- Expert review
Full Compliance
+ GST/TDS/payroll
By scope
- Books + ITR
- GST & TDS returns
- Payroll (if any)
- Deed amendments
Prices are professional fees and indicative. Government fees, stamp duty, DSC, PAN/TAN, state charges and third-party costs are extra and may change. A final engagement summary separates each component before payment.
Overview
What is Partnership Compliance?
A partnership firm doesn't have the heavy MCA/ROC compliance of a company, but it still has real, recurring obligations: maintaining books, filing the firm's income-tax return (ITR-5), a tax audit if turnover crosses the threshold, GST returns if registered, TDS returns if it deducts tax, and updating the partnership deed when partners or terms change.
Because it's 'lighter', this compliance is often neglected — until a notice, a loan application or a partner exit forces a scramble. Keeping it steady avoids that.
We run your partnership firm's recurring compliance — books, the firm's ITR, GST/TDS where applicable, and deed updates — reviewed by professionals and tracked in your portal.
Is it for you?
Who needs it — and who doesn't
Recommended if
- Registered and unregistered partnership firms
- Firms with GST/TDS obligations
- Partnerships needing the firm's ITR filed
- Firms updating their deed (new partner, terms)
May not be needed if
- LLPs (they have MCA filings — see LLP compliance)
- Companies (see company compliance)
Benefits
Why it's worth doing right
Stay quietly compliant
We keep the firm's books, ITR and applicable returns current, so a notice or loan request never catches you out.
Right remuneration treatment
We handle partner remuneration and interest within the deed and the Act in the firm's accounts and ITR.
Deed kept current
When partners or terms change, we update the deed so your firm's basis stays clean.
Eligibility
Eligibility & key conditions
- You operate as a partnership firm
- You have books and tax/registration details
- You want recurring compliance handled
Documents
Documents required
What we need
- Partnership deed
- Books/financials and bank statements
- GST and TDS details (if applicable)
- Partner remuneration/interest terms
- Prior ITR/returns
Process
A clear path from start to filed
Costs
Fees & cost breakdown
| Cost component | Indicative amount |
|---|---|
| Professional feeBy scope and turnover | From ₹999/mo |
| Government feesGST/TDS and any audit separate | Separate |
| TaxFirm-rate tax, statutory | As computed |
Deliverables
What you receive on completion
After this filing
What you need to stay compliant next
Audit if applicable
If turnover crosses the threshold, we coordinate the tax audit before the ITR.
Partner alignment
We keep the firm's return consistent with partners' own ITRs.
Avoid delays
Common mistakes & reasons for rejection
Common mistakes
- Neglecting 'lighter' compliance until a notice
- Not updating the deed on partner changes
- Missing the firm's audit trigger
- Firm and partner returns inconsistent
AI-powered assistance
AI does the heavy lifting. Experts make the call.
AI assists with checks, drafting and explanations only. A qualified professional reviews every defined checkpoint and the final filing before submission. AI does not make consequential compliance decisions on its own.
Keep your firm compliant
We run your partnership's books, the firm's ITR, GST/TDS where applicable and deed updates — quietly compliant, no scrambles.
Compare
Partnership Compliance vs Proprietorship Compliance
| Factor | Partnership Compliance | Proprietorship Compliance |
|---|---|---|
| Entity | Partnership firm | Sole proprietorship |
| ITR | Firm's own ITR-5 | Proprietor's own ITR |
| Extras | Deed, partner remuneration | Simplest structure |
Use cases
Built for how real businesses operate
Trading firm
Need: Stay compliant
We suggest: Books, GST/TDS and ITR-5 on one calendar.
Professional partnership
Need: Clean records
We suggest: Full compliance with deed upkeep.
Why MyFinancialAdvisory
A more accountable way to stay compliant
Quality & accountability
Reviewed by compliance experts
Every partnership compliance engagement is prepared with structured checks and signed off by qualified professionals before anything is filed — speed without sacrificing accuracy.
Reviewed by
Reviewed by MyFinancialAdvisory Compliance Team
Accounting, payroll & compliance review
Your books, payroll and filings are prepared with AI-assisted checks and reviewed by qualified accountants and compliance professionals before anything is filed. Business compliance, powered by AI — verified where possible, reviewed by experts, tracked by you.
Structured document checks
Documents and eligibility follow structured checks before expert review.
Expert-reviewed before filing
A qualified professional signs off every defined checkpoint.
Compliance-safe guidance
Advice mapped to current rules — no shortcuts, no guesswork.
Keep exploring
Hub
Accounting & Compliance
Bookkeeping, payroll, virtual CFO and recurring compliance.
Service
Proprietorship Compliance
Ongoing compliance for proprietors.
Service
Bookkeeping Services
Day-to-day books kept clean and current.
Service
GST Return Filing
Monthly/quarterly GSTR-1 and GSTR-3B.
Service
TDS Return Filing
Quarterly 24Q/26Q TDS returns.
FAQs
Partnership Compliance — frequently asked questions
What compliance does a partnership firm have?
Maintaining books, filing the firm's ITR (ITR-5), a tax audit if turnover crosses the threshold, GST returns if registered, TDS returns if it deducts, and deed updates on changes.
Which ITR does a partnership firm file?
ITR-5. The firm files its own return and is taxed at the firm rate, separately from the partners. We file it (with audit if applicable).
Is partnership compliance lighter than a company's?
Yes — there's no MCA/ROC annual filing like a company. But books, the firm's ITR and applicable GST/TDS still need steady handling.
Do you update the partnership deed?
Yes — when partners join/leave or terms change, we amend the deed so the firm's legal and tax basis stays clean.
Does a partnership firm need a tax audit?
It can, above the turnover thresholds (or in presumptive cases). We assess applicability and coordinate the audit before the ITR.
How is partnership compliance priced?
From ₹999/month (+ GST), by scope and turnover. GST/TDS, any audit and the firm's tax are separate.
Can you also handle the partners' personal ITRs?
Yes — we keep the firm's return and partners' own ITRs aligned (partner ITR is offered in our Income-Tax services).
Ready to get partnership compliance done?
Start with a quick conversation. We’ll confirm scope, documents, fees and the next deadline.