Why Proprietorship Compliance India is Essential
Legal Protection: Meet all statutory requirements to avoid penalties, fines, and legal notices.
Business Credibility: Maintain trust with clients, banks, and partners through transparent compliance.
Financial Health: Timely filings and accurate records help you optimize tax benefits and manage cash flow.
Proprietorship Compliance India: What We Offer
Annual Income Tax Return Filing
Proprietors must file annual income tax returns using ITR-3 (for regular business/professional income) or ITR-4 (for presumptive taxation under sections 44AD, 44ADA, or 44AE).
Tax audit is mandatory if turnover exceeds ₹1 crore for business, ₹50 lakh for professionals, or ₹10 crore for digital transactions.
Filing returns is essential for accessing business loans, carrying forward losses, and claiming TDS refunds.
GST Registration & Return Filing
GST registration is mandatory if turnover exceeds ₹40 lakh (goods) or ₹20 lakh (services).
Required for interstate supply, e-commerce, or if mandated by business activity.
Monthly/quarterly GST return filing (GSTR-1, GSTR-3B, GSTR-9) as per law.
TDS, EPF & Professional Tax Compliance
Deduct and file TDS returns if liable for tax audit or as per business activity.
EPF registration and filing if you employ more than 20 people.
Professional Tax registration is mandatory in many states for sole proprietors.
Bookkeeping & Accounting
Maintain accurate books of accounts if turnover exceeds ₹25 lakh or income exceeds ₹2.5 lakh in any of the preceding three years.
Prepare financial statements: Profit & Loss, Balance Sheet, and Cash Flow.
Essential for smooth tax filing and avoiding penalties.
Business Licenses & MSME Registration
Obtain and renew business licenses (Shop & Establishment, FSSAI, etc.) as per your business activity.
MSME/Udyam registration for government recognition, subsidies, and easy loan approvals.
Who Needs Proprietorship Compliance India?
Sole Proprietors: Individuals running their own business.
Freelancers & Consultants: Professionals offering services independently.
Small Business Owners: Retailers, traders, and service providers.
How Our Proprietorship Compliance India Process Works
Step 1 – Select Your Compliance Package
Choose from annual, quarterly, or monthly compliance plans based on your business needs.
Step 2 – Upload Documents Securely
Share PAN, Aadhaar, GST login, previous tax filings, invoices, expense details, and bank statements.
Step 3 – Expert Filing & Compliance
Our team manages your filings, compliance, and reporting, ensuring accuracy and timeliness.
Step 4 – Ongoing Support
Receive regular updates, compliance reminders, and expert advice.
Proprietorship Compliance India Checklist
| Compliance Area | Requirement |
|---|---|
| Income Tax | Annual ITR filing, tax audit if turnover exceeds limits |
| GST | Registration & return filing if turnover exceeds threshold |
| TDS | Deduction & return filing if applicable |
| EPF | Registration & return filing if >20 employees |
| Professional Tax | Registration as per state laws |
| Bookkeeping | Maintain books if turnover/income exceeds limits |
| Business Licenses | Obtain/renew as per local/state regulations |
| MSME/Udyam | Registration for government benefits |
| Data Security | Ensure secure handling of financial and personal data |
Frequently Asked Questions (FAQs)
What is proprietorship compliance in India?
Proprietorship compliance means fulfilling all legal, tax, and regulatory requirements such as income tax return filing, GST registration and returns, TDS, EPF, maintaining books of accounts, and business licenses.
Which ITR form is applicable for proprietorship firms?
ITR-3 is used for regular business income, while ITR-4 (Sugam) is for those under the presumptive taxation scheme (Sections 44AD, 44ADA, 44AE).
When is GST registration mandatory for a proprietorship?
GST registration is required if turnover exceeds ₹40 lakh (goods) or ₹20 lakh (services), for interstate supply, or for selling on e-commerce platforms.
What are the consequences of non-compliance?
Non-compliance can result in late fees, penalties, legal notices, and loss of business credibility, affecting access to loans and partnerships.
How do I get started with proprietorship compliance services?
Contact us, choose your package, upload your documents securely, and let our experts handle the rest. You’ll receive regular updates and support throughout the year.
Get Started
Contact us today for a free consultation and a customized compliance plan. Experience hassle-free, reliable, and secure compliance services designed for your business success.
Let our experts manage your compliance, so you can focus on growth.
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