Queries on partnership firm

1. Registration of partnership deed is optional
2. Tax audit u/s 44AB for firm is applicable if gross receipts/turnover exceeds 1 crore
3. Firm should have a separate bank account in its name

For more details: https://www.charteredclub.com/register-partnership-deed/

Dear Sir, 

1. Registration of deed is optional, but it is better in many ways (especially legally) to have it registered.

2. Tax audit u/s 44AB for firm is applicable if gross receipts/turnover exceeds 25 lakhs(as you are a service provider/professional)

3.  It is better to operate the firm's transactions throuh a separate bank account. Same bank accounts lead to confusion and penalties in case of tax scrutiny.