Income Tax Dues
Partnership firms are subject to income tax under the Income Tax Act, 1961.

• Flat income tax rate of 30% on net profit, plus cess and surcharge
  
• Must file ITR Form 5 annually, regardless of profit or loss
  
• Tax audit is mandatory if turnover exceeds ₹1 crore (goods) or ₹50 lakhs (services)
  
• Advance tax payments are required in quarterly installments if tax liability exceeds ₹10,000
  
• Partners’ remuneration and interest must follow Section 40(b) rules
  

Goods and Services Tax (GST)
If a partnership firm supplies goods or services beyond prescribed limits, it must register and comply with GST regulations.

• Mandatory GST registration if turnover exceeds ₹40 lakhs (goods) or ₹20 lakhs (services)
  
• Monthly/quarterly filing of GSTR-1 and GSTR-3B
  
• Annual return (GSTR-9) for firms with turnover above ₹2 crore
  
• Maintenance of proper tax invoices and ITC reconciliation
  
• Penalties apply for late or incorrect filing
  

Employees’ Statutory Contributions
If the firm employs staff, it must contribute to employee-related schemes under labour laws.

• Provident Fund (PF) registration is mandatory if 20 or more employees
  
• Employee State Insurance (ESI) applies when 10 or more employees and wages ≤ ₹21,000/month
  
• Monthly employer contribution: PF (12% of basic salary), ESI (3.25% of gross wages)
  
• Timely filing of ECR and ESI returns is required
  
• Labour Welfare Fund (LWF) may also apply in some states
  

Professional Tax and Local Levies
Depending on the state, firms may be liable for professional tax and municipal dues.

• Professional tax applies to both the firm and its employees
  
• Paid monthly or annually based on salary slabs (varies by state)
  
• Municipal taxes for shops, signage, and trade licenses
  
• Renewal fees for trade or factory licenses, where applicable
  
• Non-payment can lead to fines and non-renewal of permits
  

Regulatory Filings and Other Dues
Firms must ensure compliance with industry-specific and business-specific laws.

• Partnership registration fees under the Indian Partnership Act (if registered)
  
• MCA filings if operating as an LLP instead of a traditional firm
  
• TDS payments and returns if tax is deducted on salaries, rent, etc.
  
• FSSAI registration for food-related businesses
  
• Environment, excise, and customs compliance if applicable to industry