Proprietorship Annual Compliance
Complete accounting and tax filing for Sole Proprietors. Consolidate your business and personal income to file an accurate ITR-3 or ITR-4.
Overview
A Sole Proprietorship is not a separate legal entity from the owner. Therefore, the business profits and the proprietor’s personal income (like interest, rent, or capital gains) must be consolidated and taxed under the individual's PAN. Proprietors must file their taxes using ITR-3 (detailed financials) or ITR-4 (presumptive taxation scheme under Sec 44AD/ADA). Our service ensures that your business expenses are fully claimed, your personal tax deductions are maximized, and your return is filed flawlessly before the deadline.
What is Included in Our Package
Detailed compliance and filing scope managed by JRC corporate experts.
Documents Required Annually
Upload digital files during onboarding. No physical submissions needed.
Business Data
- Bank Statements for all business and personal accounts
- Details of total Sales/Receipts and major business expenses
- GST Returns (if registered)
Personal Tax Data
- PAN Card and Aadhaar Card
- Form 26AS, AIS, and TIS (We will download these)
- Proofs of investments (LIC, PPF, Mutual Funds) for 80C deductions
- Home loan interest certificates (if any)
Step-by-Step Compliance Timeline
Our step-by-step advisory workflow.
Step 1: Data Consolidation
We collect your business data and personal investment proofs, and reconcile them with the government’s AIS (Annual Information Statement).
Step 2: Scheme Selection
We determine whether it is more tax-efficient for you to file under normal provisions (ITR-3) or the presumptive scheme (ITR-4).
Step 3: Tax Computation
We prepare the final tax computation, adjusting for TDS already deducted by your clients, and inform you of any pending tax payable.
Step 4: E-Filing & Verification
After your approval, we file the return and complete the Aadhaar OTP e-verification.
Key Advantages of Professional Filing
Ensure maximum tax savings and avoid personal tax notices.
Maximize Deductions
We ensure you legally claim all business expenses (rent, depreciation, travel) to lower your taxable business profit.
Presumptive Taxation Advisory
We evaluate if you qualify for Section 44AD/ADA, which allows you to declare a flat profit percentage without maintaining complex books of accounts.
Build Credit History
A professionally prepared Balance Sheet and properly filed ITR are the primary documents banks require to sanction home loans or business overdrafts.
Frequently Asked Questions
Helpful answers to common regulatory inquiries.
What is Presumptive Taxation (Section 44AD)?▼
For small businesses with a turnover up to Rs. 3 Crores, the government allows you to simply declare 6% (digital) or 8% (cash) of your turnover as profit and pay tax on that, without needing to maintain detailed expense bills.
Can I claim a salary from my own proprietorship?▼
No. Since you and the business are the same legal entity, you cannot pay yourself a "salary." Any money you withdraw is considered "Drawings" and the entire net profit of the business is taxed as your income.
Professional Legal Desk
Corporate filings managed directly by certified Chartered Accountants & Company Secretaries.
Need Fast Track Assistance?
Speak directly with our senior corporate consultant for a detailed service overview and custom requirements.
Contact Desk