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Annual Compliance - Proprietorship

File proprietorship income tax return online with Tax Rupees @Rs5599. Proprietorship firms are required to file tax return each financial year if taxable income exceed Rs.2.5 lakhs

Standard Plan

Standard Plan

5599 incl. GST
7899 (29% off)

1 year Accounting, Financial statement preparation, 1 year Income Tax Return Filing, 1 year Dedicated Compliance Manager support, 1 Year Dedicated Accountant and LEDGERS accounting software for a company with a turnover upto 25 lakhs per annum.
  • 1 Year Accounting
  • Financial Statement Preparation
  • 1 Year Dedicated Accountant
  • 1 Year Income Tax Filing
  • 1 Year Annual Return Filing
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Annual Compliance - Proprietorship

Documents Required For Annual Compliance - Proprietorship

Bank Statement
Credit Notes
Debit Notes
Investment Proofs(LIC Reciept,Medicliam Reciept,Insurance Reciept, Mutual Funds, Tution Fee, House Loan Slip, Donation Reciept, PF, NPS,
Loan Schedule
Purchase Invoices
Sale Invoices
Proprietorship Return Filing

Proprietorship firms file the Proprietor income tax return just like the LLPs and the Companies registered in India. In the legal sense, the proprietorship and the proprietor are considered to be one. Hence, the income tax return filing of the proprietor and the proprietorship are the same.

As a sole proprietorship is not taxed as a different legal entity, the business owners file their business taxes like their individual returns. Like any other individual taxpayer, a proprietorship firm is also entitled to a proprietorship tax deduction as per the prevailing Income tax rules and depending on the slab rates applicable to his income.

Whereas the income tax rates for the registered companies are assessed on flat rates.

As the proprietorship firms are small and independent businesses owned by a single person. These unregistered businesses are one of the easiest to manage.


If you don't see an answer to your question, you can send us an email from our contact form.

A sole owner is expected to report all the business pay, misfortunes on the individual personal government forms, the business isn't burdened independently under this.

Proprietorship yearly return documenting is done ITR 3 and ITR 4.

ITR 3 is outfitted on the off chance that assuming the proprietorship firm is controlled by a Hindu Undivided Family or by a person.

ITR 4 is outfitted by the owner under the possible tax assessment conspire.

As the sole ownerships are not viewed as expense substances, they are not isolated from their proprietors so the owner doesn't need to confront twofold tax collection.

The fundamental duty benefit of an ownership is that it can deduct the expense of health care coverage for self, life partner, and wards.

The ownerships are expected to document the yearly expense forms with the Income Tax Department. In any case, the yearly reports or the records are not important to be documented with the Ministry of Corporate issues which is fundamental on account of the LLPs

On account of ownerships charge review isn't required, it is totally founded on the turnover and different rules.

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