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WebMar 18, 2024 · You should file a partnership firm income tax return under the Income Tax Act of 1961. In your partnership firm, you should pay 30% of your total income as income … WebFeb 20, 2024 · For partnership firm, the rate of income tax on the whole of the total income will be 30% surcharge on income tax. Partnership Firms having an annual turnover of over Rs. 100 lakhs are required to obtain a tax audit. GST registration is required for businesses whose annual turnover exceeds Rs 40 lakhs ( Rs 20 lakhs for North Eastern states). ... WebMar 17, 2024 · With NEW TurboTax Live Full Service Business, we enable the small business owner to be paired with a dedicated tax expert specializing in small business taxes to handle Partnerships (1065), S … thurston law firm chicago