Proprietorship – Filing Champs

Features

Proprietorship Annual Packages

Annual Package For Accounting, Tax & Audit

Inr 5000/- Onwards (Excl Taxes)

Income Tax

Inr 15000/- Onwards (Excl Taxes)

Income Tax & Gst

Inr 25000/- Onwards (Excl Taxes)

Income Tax & Gst & Audit Compliance

Accounting In Tally
Prepration Of Finance Statement
Income Tax Return
Monthly GST Computation
Monthly Gstr 1
Monthly Gstr 3B
Income Tax Audit
Qurterly Tds Returns
Gstr 9
Gstr 9C

Proprietorship Compliance

Running a proprietorship firm in India involves crucial financial and regulatory responsibilities, including accurate bookkeeping and timely compliance with tax regulations. Key obligations include filing income tax returns, GST returns, and maintaining proper financial records. Filing Champs provides expert bookkeeping and compliance services to streamline these processes, ensuring that you meet deadlines and adhere to all legal requirements efficiently.

Proprietorship Firm

A proprietorship firm is a business owned and operated by a single individual, who is personally liable for all financial obligations and liabilities. It is the simplest form of business entity with minimal regulatory requirements.

Income Tax Return Filing for Proprietorship Firm

Proprietorship firms must file income tax returns annually, regardless of income levels. Tax rates are applicable based on the individual tax slab of the proprietor. Deductions for business expenses and allowances are available to reduce taxable income. The deadline for filing is usually 31st July for individuals not requiring an audit.

Filing of GST Returns

If a proprietorship firm’s annual turnover exceeds Rs. 20 lakh, it must register for GST and file GST returns. The firm typically needs to file GSTR-1, GSTR-3B, and GSTR-9 returns. For firms under the composition scheme, GSTR-4 is required.

TDS Return

Proprietorship firms with a valid TAN must file TDS returns, depending on the nature of the deduction. This includes Forms like 24Q for salary TDS, 27Q for non-residents, and others as applicable.

Accounting and bookkeeping

Proprietorships must maintain books of account if their sales exceed Rs. 25 lakh or if their income surpasses Rs. 2.5 lakh in any of the last three years. Proper bookkeeping ensures accurate financial records and compliance with tax laws.

Streamline Proprietorship Compliance with Filing Champs

Filing Champs simplifies your proprietorship’s bookkeeping and compliance needs, ensuring you meet all deadlines and tax standards effortlessly. Our services include:

Income Tax Return Filing: Accurate and timely filing to avoid penalties.
GST Return Filing: Hassle-free submission of GSTR-1, GSTR-3B, and GSTR-9.
TDS Return Filing: Precise reporting for seamless compliance.
Bookkeeping Services: Maintain thorough and accurate financial records.

With Filing Champs, focus on growing your business while we handle the compliance, ensuring your financial stability and legal adherence. Ready to streamline your proprietorship’s compliance? Start now for expert guidance and peace of mind.