Any person having business or professional income of more than Rs.2.5 lakhs per year would be required to file income tax return each year.
Partnership firms (registered or unregistered) are required to file income tax return in form ITR 5 each year. Partnership firms attract income tax at the rate of 30%.
Limited Liability Partnership firms registered in India are required to file Income Tax Return in Form ITR-5 each year and MCA Annual Return.
All types of companies registered in India are required to file Income Tax Return in Form ITR-6 each year and MCA Annual Return.
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Business Tax Return Filing for a Proprietorship firm up to Rs 25 lakh turnover, incl. GST
Business Tax Return Filing for a Partnership firm or LLP up to Rs 25 lakh turnover, incl. GST