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Hisho & Kanri
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We provide accounting, compliance,
and advisory services.

Annual Compliance

Keep your partnership firm fully compliant, year after year.

Annual compliance for a partnership firm is the recurring set of tax, accounting, and regulatory filings every firm must complete each financial year — regardless of whether it's registered with the Registrar of Firms or operating on an unregistered partnership deed. It covers income tax return filing, bookkeeping and financial statement closure, GST returns where applicable, TDS filings, and a tax audit once turnover crosses the prescribed threshold.

Missing even one of these isn't just a paperwork lapse — it can mean late fees, interest on unpaid tax, disallowance of partner remuneration under Section 40(b), and for unregistered firms, an inability to enforce contracts in court. That's why most partnership firms hand their annual compliance calendar to a dedicated team rather than tracking every due date themselves.

Talk to a Compliance Expert View Compliance Checklist
0Firms Kept Compliant
0Filing Types Handled
0Due Dates on Our Watch
0On-Time Filing Rate
Compliance Year-Flow Live Tracking

Books of Accounts

Ledgers reconciled and closed

GST Returns

Monthly/quarterly filings synced

Tax Audit

If turnover crosses threshold

ITR-5 Filing

Firm's income tax return

Compliance Certificate

Year closed, firm in good standing

Apr
May
Jul
Sep
Oct
Mar
Compliance Categories

Everything that counts as annual compliance

Not every filing applies to every firm — but here's the full lineup we track and manage on behalf of partnership firms, so nothing slips through unnoticed.

Income Tax Return (ITR-5)

Every partnership firm — registered or not — must file an ITR-5 annually, even in years with nil or negative income.

Mandatory

Books of Accounts & Bookkeeping

Ledgers, cash books, and vouchers maintained and reconciled through the year, closed out before return filing begins.

Mandatory

GST Return Filing

Monthly, quarterly, and annual GST returns for firms registered under GST, matched against purchase and sales registers.

If GST-Registered

Tax Audit

Mandatory once turnover or receipts cross the prescribed threshold, or when presumptive taxation limits under Sections 44AD/44AB are breached.

Threshold-Based

TDS Return Filing

Quarterly TDS returns and challan deposits wherever the firm deducts tax on rent, professional fees, salaries, or contractor payments.

If Applicable

Partner's Capital Account Reconciliation

Annual reconciliation of capital, drawings, remuneration, and interest on capital across every partner's account.

Mandatory

Registrar of Firms Filings

Intimation of changes in partners, profit-sharing ratio, or the partnership deed to the Registrar of Firms, where the firm is registered.

Registered Firms

Trade Licence & Professional Tax Renewal

Annual renewal of shop & establishment licences, trade licences, and professional tax registrations tied to the firm's business locations.

Location-Based
The Process

From bookkeeping to certificate, in eight steps

Here's exactly how a partnership firm's financial year gets closed out and filed, from the first reconciliation to the final compliance sign-off.

Deed & Records
Books Closed
Returns Filed
Certificate Issued
1

Compliance Health Check

We review the partnership deed, prior-year filings, GST status, and turnover to map exactly which filings apply to your firm this year.

2

Bookkeeping & Reconciliation

Bank statements, invoices, and vouchers are reconciled against the ledgers to close out the year's accounts cleanly.

3

Financial Statement Preparation

Trading, profit & loss, and balance sheet are drawn up, along with each partner's capital account statement.

4

Tax Audit (If Applicable)

Where turnover crosses the audit threshold, a chartered accountant conducts the statutory tax audit and issues Form 3CB-3CD.

5

Income Tax Return Filing

The firm's ITR-5 is prepared and filed, with partner remuneration and interest computed under Section 40(b) limits.

6

GST Return Filing

Periodic and annual GST returns are reconciled against books and filed for firms registered under GST.

7

TDS & Other Statutory Filings

Quarterly TDS returns, professional tax, and licence renewals are cleared alongside the main tax filings.

8

Compliance Report & Record Handover

We hand over a signed compliance summary and organised records — your proof of good standing for the year, ready for banks or audits.

Applicability

Which partnership firms need to comply?

Annual compliance isn't optional past a certain size — here's who it applies to, and what typically triggers each extra filing.

Every Partnership Firm

Registered and unregistered firms alike must file an annual income tax return — registration status doesn't remove this obligation.

Firms Registered Under GST

Any firm holding a GST registration must file periodic and annual GST returns, even during low-turnover or dormant months.

Firms Crossing the Audit Threshold

Once turnover or gross receipts exceed the prescribed limit, a statutory tax audit becomes mandatory for that financial year.

Firms With Employees

TDS on salaries, professional tax, PF, and ESI compliance apply once the firm has staff on its payroll.

Firms Holding Trade Licences

Shop & establishment licences, trade licences, and local registrations typically need yearly or periodic renewal.

Firms With a Change in Partners

Any change in partners, profit-sharing ratio, or the deed itself must be intimated to the Registrar of Firms where registered.

Paperwork

Documents you'll need to keep handy

Gathering these before the filing window opens is the single biggest thing you can do to speed up your firm's annual compliance.

Partnership Deed

Original deed and any supplementary amendments

PAN of the Firm

Firm-level PAN used for all tax filings

Partners' PAN & Aadhaar

For remuneration and capital account records

Bank Statements

Full-year statements for every firm account

Sales & Purchase Invoices

For bookkeeping and GST reconciliation

Previous Year's ITR & Financials

To carry forward figures and losses correctly

GST Returns Filed

Copies of returns filed through the year

TDS Challans & Certificates

Proof of tax deducted and deposited

Why It's Worth It

What staying compliant actually buys you

Beyond avoiding penalties, timely compliance changes how banks, vendors, and courts treat your firm.

No Penalties or Interest

Filing on time avoids late fees and interest that compound month on month

Legal Standing to Sue

A registered, compliant firm can enforce contracts against third parties in court

Smoother Loan Approvals

Banks ask for compliance history before sanctioning working capital or term loans

Stronger Vendor Credibility

Clean filings make vendors and clients more comfortable extending credit terms

No Registrar Show-Cause Notices

Timely intimation of deed changes avoids scrutiny from the Registrar of Firms

Accurate Tax Planning

Up-to-date books let you plan partner remuneration and capital withdrawals wisely

Easy Partner Changes

Admitting or retiring a partner is far simpler when prior-year filings are current

Clean Dissolution, If Needed

Winding up a fully compliant firm is quicker, with no pending-return complications

The Full Checklist

Every filing on your firm's compliance calendar

This is the master checklist we work through for a partnership firm each financial year — some rows apply universally, others only once specific conditions are met.

Income Tax Return (ITR-5)

Filed annually by every partnership firm, irrespective of profit, loss, or registration status.

TDS Returns

Quarterly returns for tax deducted at source on rent, professional fees, salaries, or contractor payments.

GST Returns

Periodic and annual returns reconciled against sales and purchase registers, for GST-registered firms.

Books of Accounts Finalisation

Ledgers, trial balance, profit & loss, and balance sheet closed and finalised for the financial year.

Statutory / Tax Audit

Mandatory audit and Form 3CB-3CD certification once turnover crosses the prescribed threshold.

Partner Remuneration & Interest (Sec 40(b))

Computation of allowable partner remuneration and interest on capital within the statutory limits.

Why Hisho & Kanri

Compliance managed by people who track it every single month

We run the annual compliance calendar for partnership firms across India, Singapore, and Malaysia — so we know exactly which due dates get missed, and how to build a process that never misses them.

Experienced Professionals

Chartered accountants who handle partnership firm filings week after week.

Proactive Due-Date Tracking

Reminders well ahead of every filing deadline, not after the fact.

Affordable Pricing

Transparent annual packages with no hidden government-fee surprises.

Transparent Process

You see every return filed and every acknowledgement, not just a year-end summary.

Dedicated Support

One point of contact for every filing, from bookkeeping through to the final return.

Secure Documentation

Your firm's financial records handled under strict confidentiality throughout.

FAQ

Common questions about partnership firm compliance

Can't find your question here? Use the form alongside this page and we'll answer it directly.

It's the recurring set of tax and regulatory filings — income tax return, bookkeeping, GST returns, TDS, and audit where applicable — that every partnership firm must complete each financial year.

Yes — an ITR-5 is mandatory for every partnership firm regardless of profit, loss, or nil income for the year.

Only if the firm holds a GST registration — once registered, periodic and annual returns are compulsory even in low-turnover months.

Once the firm's turnover or gross receipts cross the prescribed threshold, or presumptive taxation limits are breached — we confirm this against your figures each year.

Expect late fees, interest on unpaid tax, and in some cases disallowance of partner remuneration or GST input credit for that period.

Yes — tax filings apply regardless of Registrar of Firms registration, though an unregistered firm loses the right to sue third parties until it's registered.

Not annually by default — filings there are event-based, triggered by changes in partners, profit-sharing ratio, or the deed itself.

Remuneration and interest on capital are deductible for the firm only within statutory limits — anything beyond that gets disallowed at assessment.

Once the firm pays rent, professional fees, contractor charges, or salaries above prescribed limits, it must deduct and deposit TDS and file quarterly returns.

Because we track your entire filing calendar proactively, keep you informed at every stage, and have handled partnership firm compliance across three countries for years.