Proprietorship Compliance

Proprietorship Compliance Services

Running a Sole Proprietorship in India requires timely compliance with income tax and statutory regulations. As the business and owner are treated as the same legal entity, all business income is taxed in the proprietor’s personal return. Proper compliance ensures smooth operations, tax savings, and avoids penalties.

At Thrive Tax Solutions, we provide complete proprietorship compliance support, covering income tax, GST, TDS, EPF, accounting, and audit requirements.

💰 Income Tax Return (ITR) for Proprietorship

  • Proprietorship income is taxed under individual income tax slabs
  • Filed using the Proprietor’s PAN
  • Mandatory even for NIL income (if income exceeds basic exemption limit)
  • Eligible for old or new tax regime (Section 115BAC)
  • Presumptive taxation (Section 44AD / 44ADA) available for small businesses

ITR Forms Applicable:

  • ITR-3: Regular business income
  • ITR-4 (Sugam): Presumptive taxation

Due Dates:

  • 31st July: Non-audit cases
  • 30th September: Audit cases

📌(Due dates are subject to extension by the Income Tax Department)

📂 Other Mandatory Compliances

  • GST Returns: GSTR-1, GSTR-3B (if turnover exceeds ₹20 lakh)
  • TDS Returns: Form 24Q, 26Q, 27Q, etc. (if TAN applicable)
  • EPF Returns: Mandatory if employee threshold is crossed
  • Accounting & Bookkeeping: Required if turnover > ₹25 lakh
  • Tax Audit: Applicable based on turnover / presumptive scheme rules

📂 Documents Required

  • PAN & Aadhaar
  • Bank statements
  • Books of accounts / sales details
  • Form 26AS, AIS
  • GST & TDS data (if applicable)

⭐ Why Choose Thrive Tax Solutions?

  • Complete proprietorship compliance under one roof
  • Accurate & timely ITR filing
  • GST, TDS & EPF return support
  • Presumptive & tax planning advisory
  • Transparent pricing & deadline reminders

🛠 Our Services Include

  • Proprietorship Income Tax Return Filing
  • GST, TDS & EPF Return Filing
  • Accounting & Bookkeeping
  • Tax Audit & Compliance Advisory
Get Proprietorship Compliance Support