Income Tax
Business Tax Filing
Quick answer: Business tax filing for partnership firms, LLPs, and proprietorships — ITR-3 / ITR-5 with audit coordination under Section 44AB.
₹1,999
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Why choose FinTax24
- 2500+ business ITRs filed for AY 2025-26 across firms and LLPs
Audience
Who needs Business Tax Filing?
- Partnership firms registered under the Indian Partnership Act 1932 with turnover exceeding the Section 44AD presumptive threshold.
- Limited Liability Partnerships (LLPs) registered under the LLP Act 2008 with audit obligations under Section 44AB.
- Sole proprietorships with business turnover above ₹1 crore (cash) or above ₹10 crore (non-cash / bank receipts).
- Freelancers and professionals with gross receipts above ₹75 lakh opting for presumptive Section 44ADA.
- Goods carriage operators with 10+ vehicles claiming Section 44AE presumptive income per vehicle per month.
- Section 8 companies, trusts, and NGOs with business income (incidental to charitable objects) requiring ITR-3 or ITR-7.
How it works
- 1
Audit Threshold Analysis
We assess Section 44AB audit applicability and recommend presumptive (44AD / 44ADA / 44AE) vs regular books.
- 2
Books Finalisation
P&L and Balance Sheet are finalised with depreciation, bad debts, and Section 40(b) partner remuneration.
- 3
Tax Audit Coordination
Form 3CD is prepared by our expert and uploaded on the e-filing portal before the 30 September 2026 deadline.
- 4
ITR-3 / ITR-5 Drafting
Return is drafted with correct partner / designated partner details, capital account, and Schedule BP.
- 5
Advance Tax Reconciliation
Advance tax challans are matched with 26AS / AIS — shortfalls under Section 234B / 234C flagged and paid.
- 6
E-Filing & Verification
ITR-5 (firm / LLP) or ITR-3 (proprietor) is e-filed with DSC of the partner / designated partner.
- 7
Processing & Refund
We track 143(1) intimation, Section 154 rectification, and refund issuance within 30-60 days.
Timeline
Why file this
Benefits of business tax filing
- End-to-end ITR-3 / ITR-5 preparation and e-filing for partnership firms, LLPs, and proprietorships for AY 2026-27.
- Section 44AB tax audit coordination — Form 3CD with Form 3CA (expert audit) or Form 3CB (audit by accountant) before the 30 September 2026 audit deadline.
- Presumptive income computation under Section 44AD (turnover up to ₹3 crore for non-cash / ₹75 lakh for cash businesses), 44ADA (professionals), 44AE (goods carriage) for reduced audit burden.
- Partner / proprietor salary and interest on capital deduction planning under Section 40(b) for partnerships.
- Book-to-return reconciliation including P&L, balance sheet, depreciation under Section 32, and unabsorbed business loss carry-forward.
- TDS / TCS reconciliation from Form 26AS and AIS — fixes mismatches between business expenses and TDS deducted by clients.
- Avoid Section 271(1)(c) concealment penalty by accurate disclosure of cash credits, loans, and unexplained investments in Schedule AI.
- Free consultation on advance tax instalments under Section 207 — 15%, 45%, 75%, 100% by 15-Jun, 15-Sep, 15-Dec, 15-Mar.
Documents required
8 documents needed for business tax filing.
- PAN of the firm / LLP and PAN of all partners / designated partners for ITR-5 partner details.
- Partnership deed (latest amended) for ITR-5 — profit-sharing ratio, salary, and interest on capital clauses.
- LLP incorporation certificate and LLP agreement (latest amended) for designated partner remuneration.
- Tax audit report — Form 3CA / 3CB + Form 3CD, signed by the tax expert before 30 September 2026.
- Profit & Loss Account and Balance Sheet for FY 2025-26 audited / self-attested for books of accounts.
- Bank statements for the business current account and partners' capital accounts during FY 2025-26.
- TDS / TCS certificates (Form 16A / 26Q / 27EQ) for all business-related TDS deducted by clients and contractors.
- Depreciation working under Section 32 with block-wise fixed asset register and WDV computation.
DIY vs FinTax24
Why file business tax filing with FinTax24 instead of doing it yourself.
| Aspect | DIY / Portal | Local Tax Consultant | FinTax24 |
|---|---|---|---|
| Filing time | 7–14 days (typical) | Varies by availability and workload | 5-7 business days |
| Expert review | None | Depends on the consultant | Expert verified on every filing |
| Document check | You self-verify; rejected on portal | Manual review may vary | Pre-verified by our team before submission |
| Support | Email / chatbot | Appointment-based or office hours | WhatsApp + phone, Mon–Sat 10 AM–7 PM IST |
| Pricing | Government fees only | Consultant fee + government fees | Transparent: From ₹1,999 + govt fees |
Frequently asked questions
Which ITR form applies to a partnership firm or LLP for AY 2026-27?
Partnership firms (other than LLPs claiming Section 197) and LLPs file ITR-5 under Section 139(1) for AY 2026-27. Sole proprietors with business income file ITR-3. Note: ITR-4 (presumptive) is for individuals / HUFs only — partnership firms and LLPs cannot opt for ITR-4 even under presumptive taxation.
When is the Section 44AB tax audit due for AY 2026-27?
Under Section 44AB, tax audit of books of accounts must be completed and Form 3CD must be uploaded on the e-filing portal by 30 September 2026 (one month before the ITR due date of 31 October 2026). Audit is mandatory if turnover exceeds ₹1 crore (₹10 crore if ≥95% of transactions are digital).
What is the ITR-5 due date for AY 2026-27?
For partnership firms and LLPs requiring audit under Section 44AB, the ITR-5 due date for AY 2026-27 is 31 October 2026. For firms opting for presumptive taxation (turnover ≤ ₹3 crore under Section 44AD), the due date is 31 July 2026. Belated filing window closes on 31 December 2026.
Can a partnership firm deduct partner salary under Section 40(b)?
Yes. Section 40(b) allows deduction of partner salary / interest on capital, subject to limits: salary up to ₹1,50,000 per partner or 90% of book profit (whichever is lower) for firms with profits; interest on capital up to 12% simple interest per annum. The deduction is disallowed if paid to a non-working partner beyond of these limits.
What is the audit threshold under Section 44AB for AY 2026-27?
Section 44AB audit is required if total sales / turnover / gross receipts exceed ₹1 crore in the previous year (FY 2025-26). The threshold is raised to ₹10 crore if at least 95% of transactions are cashless (bank / UPI / card). For presumptive Section 44ADA (professionals), audit threshold is ₹75 lakh gross receipts.
What is Section 44AD presumptive income for businesses?
Section 44AD deems business income at at 8% of turnover ( (or 6% if turnover is received via digital / banking channels) for resident individuals, HUFs, and partnership firms (not LLPs) with turnover up to ₹3 crore (₹75 lakh for cash businesses). Declared income is treated as final; no books of accounts required.
How much does business tax filing cost at FinTax24?
Business tax filing starts from ₹1,999 for ITR-3 proprietorship without audit, ₹2,499 for ITR-3 with audit, ₹2,999 for ITR-5 partnership / LLP without audit, and ₹4,999 for ITR-5 with Section 44AB tax audit including Form 3CD. Tax audit fee includes expert cost.
What is the penalty for non-filing of business ITR?
Section 234F late fee ₹1,000 (income ≤ ₹5L) or ₹5,000 (income > ₹5L) applies for belated filing. Section 271(1)(c) concealment penalty of 100%-300% of tax on concealed amount may apply. Section 276CC prosecution (6 months to 7 years imprisonment + fine) applies if tax due exceeds ₹25,000 and return is not filed.
Sources & authority: For regulations on business tax filing, refer to incometax.gov.in , eportal.incometax.gov.in .
Last reviewed by: FinTax24 Compliance Desk · Reviewed on:
Related Income Tax
- Income Tax Return Filing ITR filing for any taxpayer — ITR-1 to ITR-7 — for AY 2026-27 with Form 16, 26AS, AIS, deduction planning. View details →
- ITR Filing ITR filing for any taxpayer — ITR-1 to ITR-7 — for AY 2026-27 (FY 2025-26) with 26AS / AIS reconciliation. View details →
- ITR-1 SAHAJ Filing ITR-1 SAHAJ e-filing for salaried individuals for AY 2026-27 — single Form 16, one house property, income up to ₹50 lakh. View details →
- ITR-2 Filing ITR-2 filing for capital gains, multiple house property, and foreign income for AY 2026-27 — no business income. View details →
About FinTax24
ISO 27001 · Startup India · MCA registered- Legal name
- FinTax24 LLP
- Founded
- 2021
- Headquarters
- Palitana, Gujarat, India
- Certifications
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- All 33 Gujarat districts + Dadra & Nagar Haveli & Daman & Diu
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