Proprietorship Annual Return Filing
| Market Price: | |
|---|---|
| Filing CA Price: | ₹4500/- excl. GST |
| ₹5310/- incl. GST | |
| You Save: | ₹3399/- (43%) |
| Complete By: | within 7 days from payment |
Annual Compliances for Proprietorships in India
Sole Proprietorships of India have only the minimal statutory compliances, which are much lesser than those applicable to the private or public limited companies. It is mainly because of the fact that a sole proprietorship has a no separate legal entity different from its owner or proprietor, and this form of business entity does not avail the benefits of limited liability. The annual income of the proprietor is considered the annual income of the sole proprietorship firm.
Taxpayer other than the Pvt.Ltd Companies, Opc Companies, LLp , Partnership , Ltd companied are to be called as Individual/Proprietor.
Why these compliance required for an individual/Proprietor
- If an individual income cross the basic limit of exempted income tax limit then it is mandatory for him to file the Income tax return and if income not cross the basic limit then it is optional to him for filling the income tax return.
- An individual who is registered under the Gst act required need to file Gst return monthly basis .
Due date for filling
- For Income tax filling Last date for filling income tax return will be 30the July.
- In case of Gst last date of filling is Gst3b will be next 20th of the following month.
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