Annual Compliances For Proprietorship

Documents Required for Annual Compliances For Proprietorship

  • 1 Invoices of Purchases and Sales during the year
  • 2 Invoices of expenses incurred during the year
  • 3 Credit Card Statements if Expenses are incurred by Proprietor on behalf on Company
  • 4 Bank Statements from 1 April to 31 March for all bank accounts in the name of firm
  • 5 Copy of VAT or Service Tax returns filed (If Any)
  • 6 Copy of TDS Challans Deposited (If Any)
  • 7 Copy of TDS Returns filed (If Any)

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Process Involved

Service Tax Returns
VAT Returns
Finalization of Balance Sheet
Income Tax Return
Tax Audit

Statutory Compliance for Proprietorship

Every Individual shall comply with Staututory requirements applicable to him for VAT, Service Tax and Income tax

File Sales Tax (VAT) Returns every Quarter within the due dates 

Important  dates: 

  •  25 July - for April to June 
  •  25 October - for July to September
  •  25 january  - for October to December
  •  25 April  - for January to March

File Service Tax Returns every Half Year ( every 6 Months) -
 Important  dates: 

  •  25 October - for April to September and
  • 25 April  - for October to March

Income Tax Return every year before

 Important  dates: 

  • 31st July - All Cases except audit
  • 30th Sep if your turnover is More Than 1 Crore - Service Turnover More  than 25 Lakhs


  •  Maintain Proper Books of Accounts.
  • Prepare and File Balance Sheet.
  • Comply with Sales Tax and Service Tax Requirements.
  • File Income Tax Returns with Income Tax Department.

Need for Annual Complaince

  • Late filing or non-filing of Sales tax Return before the due date will attract a penalty of Rs. 200 per Day.
  • Late filing or non-filing of Service Tax Return before the due date will attract a penalty of Rs. 200 per Day.



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