Income Tax Return for Partnership Firm: Partnership ITR - Tax Craft Hub

Filing an Income Tax Return (ITR) for a partnership firm is a crucial annual compliance requirement under the Income Tax Act of India. Partnership firms must file ITR using Form ITR-5, which covers various income sources, including business profits, capital gains, and other income. The return must be filed even if the firm has no taxable income or has incurred a loss during the financial year. Proper documentation, such as the balance sheet, profit and loss account, and audit report (if applicable), should be maintained and submitted along with the return. Timely and accurate filing ensures adherence to tax regulations and helps avoid penalties and legal issues.

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