Firms / LLPs ITR
ITR Filing for LLPs and Partnership Firms – Classic Partners LLP
Simplified Tax Filing Services for Firms and LLPs in Mumbai
Are you a Partner or Designated Partner in a Partnership Firm or LLP? Filing an Income Tax Return (ITR) is a statutory requirement under the Income Tax Act, 1961. At Classic Partners LLP, we make ITR filing simple, accurate, and compliant for LLPs and Firms, offering complete support in tax audits, compliance, refund claims, and representation before authorities.
Why Choose Classic Partners LLP for LLP & Firm ITR Filing?
Our experienced team of Chartered Accountants provides:
ITR Filing for Partnership Firms
ITR Filing for LLPs
Tax Audit compliance under Section 44AB
Representation for tax notices and assessments
Advisory for tax planning and savings
Guidance on refund claims and loss carry-forwards
Overview of ITR Filing for LLPs & Firms
Filing ITR is mandatory for all Firms and LLPs, irrespective of profit or loss.
ITR-5 – Applicable to LLPs, Firms, AOPs, BOIs, co-operative societies, and local authorities.
ITR-4 (Sugam) – Applicable for small Partnership Firms (not LLPs) under presumptive taxation (Sections 44AD, 44ADA, 44AE).
Documents Required
Statement of Accounts – Profit & Loss and Balance Sheet
Form 26AS / AIS – For tax credits and reconciliation
Bank Statements – With IFSC and account details
Invoices & TDS Certificates – Proof of income and deductions
Audit Reports – If applicable under Section 44AB
Step-by-Step Process
Document Submission – Upload via secure email or client portal.
Tax Review – CA assesses accounts, deductions, and compliance status.
Return Preparation – Draft computation prepared as per Income-tax Act.
E-Filing – File ITR electronically with DSC (if audit required).
Acknowledgment – Receive ITR-V and computation for records.
E-Verification – Aadhaar OTP, EVC, or physical ITR-V submission.
Tax Audit under Section 44AB
Mandatory if turnover exceeds ₹1 crore (business) or ₹50 lakhs (professionals).
Classic Partners LLP ensures full audit compliance with certified reporting and timely filing.
Benefits of ITR Filing for LLPs & Firms
Legal Compliance: Avoid penalties and maintain regulatory trust.
Business Loans: Essential proof for loan applications and credit facilities.
Tax Refunds: Claim refunds for excess TDS or advance tax paid.
Carry Forward Losses: File on time to set off business losses against future profits.
Avoid Penalties: Timely filing prevents late fees under Sections 234A, 234B & 234C.
Key Tax Provisions for Firms & LLPs
Section 44AD/44ADA/44AE: Presumptive taxation (only for Partnership Firms).
Section 44AB: Tax audit applicability.
TDS Obligations: Deduction on contractor payments, salaries, professional fees, rent, etc.
AMT (Alternative Minimum Tax): LLPs must comply where applicable.
Our Commitment
At Classic Partners LLP, we deliver more than just ITR filing—we ensure complete compliance, tax efficiency, and proactive advisory for your Firm or LLP. Whether you are a consulting practice, trading business, or professional firm, we tailor tax solutions to your structure.
