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Annual Compliance - Proprietorship

File Proprietorship Income Tax Return online with TaxRupees. Simplified process, expert support, and timely filing. Stay tax compliant. Avoid Penalties.

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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.
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  • 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 Annual Tax Return Filing


If you're a proprietor in India, it's important to understand the process and requirements for filing your annual tax return. Everything you need to know about filing a proprietorship annual tax return in India, from who needs to file to what forms need to be filled out. We'll also go over the consequences of not filing and provide a step-by-step guide on how to file your return.

What is a Proprietorship

A proprietorship, also known as a sole proprietorship, is a type of business entity that is owned and operated by one individual. In India, there are no special legal requirements for setting up or operating a proprietorship, which makes it the simplest and most common form of business ownership.

As the owner of a proprietorship, you are personally responsible for all debts and obligations incurred by the business. This includes any money owed to creditors, suppliers, employees, or the government. If the business is unable to pay its debts, creditors can go after your personal assets, such as your home or savings account.

What is an Annual Tax Return

An annual tax return is a document that you file with the Indian government detailing your income and expenses for the fiscal year (April 1 – March 31). Based on this information, the government will calculate how much tax you owe.
The deadline for filing your annual tax return is July 31st. If you do not file your return by this date, you may be subject to late fees and penalties.
It is important to note that, as the owner of a proprietorship, you are required to file your personal income taxes and business income taxes separately. This means that you will need to complete two tax returns: one for your individual income and another for your business income.

Who is required to file

All proprietorships registered with the Ministry of Corporate Affairs (MCA) are required to file their annual tax return. The due date for filing is 30th September of the assessment year.

What is the due date

The due date for filing your annual tax return is 30th September of the assessment year.

What forms need to be filed

The forms that need to be filed are ITR-3 and ITR-4, along with supporting documentation such as financial statements and income tax returns from the previous year.

What are the consequences of not filing

If you do not file your annual tax return, you may be subject to penalties and interest charges. In addition, your company may be de-registered by the MCA if you fail to file for three consecutive years.

The Process of Filing a Proprietorship Annual Tax Return

Gather the required documents
The first step in filing your annual tax return is to gather all of the required documents. This includes your income statements, receipts, and any other documentation that you will need to support your claims.
Fill out the forms
After you have gathered all of the required documentation, you will need to fill out the appropriate forms. These forms can be found on the website of the Income Tax Department.
Submit the forms and supporting documentation
Once you have completed and signed the forms, you will need to submit them along with your supporting documentation to the Income Tax Department. You can do this either by mail or in person.
What to do if you can't file on time
If you are unable to file your annual tax return on time, you can file for an extension with the Income Tax Department.

What Information You Will Need to File Your Tax Return

Personal Identification Information
In order to file your tax return, you will need to provide some basic personal information such as your name, date of birth, and contact information. You will also need to provide your Taxpayer Identification Number (TIN).
Taxpayer Identification Number
Your Taxpayer Identification Number (TIN) is a unique number that is assigned to you by the Indian Income Tax Department. It is used to identify you for tax purposes and is required in order to file your tax return.
Business Income and Expenses
In order to calculate your taxes owed, you will need to provide information about your business income and expenses. This includes income from sales, services, interest, investments, and other sources. You will also need to provide information about any business expenses that you have incurred, such as cost of goods sold, employee salaries, rent, marketing expenses, etc.

FAQs About Filing a Tax Return for Your Proprietorship

Do I need to file a tax return if my business is a proprietorship
Yes, if your business is a proprietorship, you must file an annual tax return. The due date for filing your return is April 30th.
What is the deadline for filing a tax return for a proprietorship in India
The deadline for filing your annual tax return as a proprietorship in India is April 30th.
What are the penalties for not filing a tax return for a proprietorship in India
If you do not file your annual tax return by the due date of April 30th, you may be subject to late fees and interest charges. Additionally, the Indian government may initiate criminal proceedings against you if you fail to file your taxes for multiple years.

Proprietorship annual tax return filing in India is a process that every business owner must go through. Though it may seem daunting, it is important to be aware of the requirements and deadlines. By gathering the required documents and filling out the forms correctly, you can ensure a smooth filing process. If you are unable to file on time, there are steps you can take to minimize the consequences.

By understanding the proprietorship annual tax return filing process in India, you can ensure that your business remains compliant with the law. Do not hesitate to reach out to a professional if you have any questions or concerns.

File proprietorship income tax return online with TaxRupees

Did you know that you can now file tax return for proprietorship in India online with TaxRupees?
Yes, that’s right!
We are a leading in filing proprietorship income tax return in India.
We also offer a range of other services such as filing proprietorship income tax return, partnership income tax return, LLP income tax return and Pvt. Ltd. income tax return.
So what are you waiting for? Contact us today to get started!


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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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