Mycorporation.inMycorporation.inMycorporation.in
Banner design - Mycorporation

Annual Compliances For Proprietorship

We are experts who know how to make the work as painless and seamless as possible for you.
Arrow
shape
Arrow
shape
Section Shape

Easy & Hassle Free Online Process

Dedicated Expert & Account Manager

Advisory Session From Experts

Who are the Individual/Proprietor

Taxpayer other than the Pvt.Ltd Companies, Opc Companies, LLp , Partnership , Ltd companies are to be called as Individual/Proprietor.

back and forth bar case study icons-03
Why these compliance required for an individual/Proprietor
a) If an individual income crosses the basic exempted limit of income then it is mandatory for him to file the Income tax return and if income does not cross the basic exempted limit then it is optional for him for filling the income tax return.
b) An individual who is registered under the GST Act is required to file GST returns on monthly basis.
back and forth bar case study icons-03
Due dates for filling Compliances
a) For the Income tax return filling the Last date will be 31st July after completion of the financial year.
b) In case of Gst last date of filling is Gst3b will be next 20th of the following month.

Our Packages

Basic Plan - Proprietorship

Exclusive Government Fees
Starting at ₹ 10,000GST will be charged at 18%
  • Income Tax Return
  • GST Compliances

Standard Plan - Proprietorship

Exclusive Government Fees
Starting at ₹ 30,000GST will be charged at 18%
  • Income Tax Return
  • Tax Audit

Advanced Plan - Proprietorship

Exclusive Government Fees
Starting at ₹ 20,000GST will be charged at 18%
  • Income Tax Return
  • GST Compliances

Documents Required For Annual Compliances For Proprietorship

Invoices of Purchases and Sales during the year
Invoices of expenses incurred during the year
Credit Card Statements if Expenses are incurred by Proprietor on behalf on Company
Bank Statements from 1 April to 31 March for all bank accounts in the name of firm
Copy of GST returns filed (If Any)
Copy of TDS Challans Deposited (If Any)
Copy of TDS Returns filed (If Any)
Banner design - Mycorporation

Process Involved

STEP – 1
Documentation

Required documents are provided by client

STEP – 2

GST Returns

Checking GST Returns reconciling with bank statements and books of Accounts

STEP – 3

VAT Returns

Checking VAT returns and reconciling with bank statements and books of Accounts

STEP – 4

Finalization of Balance Sheet

Balance Sheet and Profit and Loss is finalized based on data provided

STEP – 5

Income Tax Return

Income tax return is filed based on Prepared Balance Sheet

STEP – 6

Tax Audit

Tax Audit is done for those where turnover exceed 50 lakhs and 2 Crores (Charges Extra)

Get in touch

Save money on filing your annual compliance, have a word with experts and get it done now.

24/7 hours customer support

100% money back Guarentee

+91 888-210-1000
FAQs

The Proprietor must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.

There is no limit on the minimum capital for starting a Proprietorship. Therefore, a Proprietorship can be started with any amount of minimum capital.

It is not necessary for Proprietorships to prepare audited financial statements each year. However, a tax audit may be necessary based on turnover and other criterion.

Proprietorship firms are business entity that are owned, managed and controlled by one person. So Proprietorship firms cannot issue shares or have investors

No, the Proprietorship firm and the Proprietor are one and the same. The PAN Card of the Proprietor will be the PAN Card of the Proprietorship business.Therefore, there will be no separate legal identity for the business. The assets and liabilities of the Proprietorship business and the Proprietor will also be one and the same.

Services

Other Business Services

Proprietorship Registration

Partnership Registration

Section 8 Company Registration

Business Registration

    What kind of business do you want to register ?*

    Why do you want to register?*

    Where would you like you Register your Company ?*

    How much do you want to invest in your company?*

    How many Business partners do you have ?*

    Do you need assistance in opening a Current Account?*

    Organisation Name

    Name*

    Email*

    Phone*

    Get Instant Quote

      What is the nature of your business?

      Where would you like you Register your Company ?

      Do you need assitance in opening a Current Account?

      Organisation Name*

      Our Packages*

      Name*

      Email*

      Contact*

      Get Instant Quote

        What is the nature of your business?

        Where would you like you Register your Company ?

        Do you need assitance in opening a Current Account?

        Organisation Name*

        Our Packages*

        Name*

        Email*

        Contact*

        Get Instant Quote

          What is the current name of your company?

          What is the proposed name of the company?

          Do you need assitance in opening a Current Account?

          Organisation Name*

          Our Packages

          Name*

          Email*

          Contact*

          Get Instant Quote

            What is the current name of your company?

            What is the proposed name of the company?

            Do you need assitance in opening a Current Account?

            Organisation Name*

            Our Packages

            Name*

            Email*

            Contact*

            Get Instant Quote

              Which of the following best describes you?

              What would you consider yourself to be one of the following?

              Our Packages

              What kind of entity do you have?

              Organisation Name

              Name*

              Email*

              Contact*

              Get Instant Quote

                Which of the following best describes you?

                What would you consider yourself to be one of the following?

                Our Packages

                What kind of entity do you have?

                Organisation Name

                Name*

                Email*

                Contact*

                Get Instant Quote

                  Why do you need ISO certificate ?

                  Select your preference

                  What is the nature of your business ?

                  Which ISO Certificate are you looking for ?*

                  Name*

                  Email*

                  Contact*

                  Get Instant Quote

                    Why do you need ISO certificate ?

                    Select your preference

                    What is the nature of your business ?

                    Which ISO Certificate are you looking for ?*

                    Name*

                    Email*

                    Contact*

                    Get Instant Quote

                      What do you want to Update?

                      What kind of entity do you have?

                      Our Packages

                      Name*

                      Email*

                      Contact*

                      Get Instant Quote