Business ITR Filing (Proprietorships)
File ITR-3 or ITR-4 for your sole proprietorship or freelance business. Expert preparation of Profit & Loss statements and Balance Sheets.
Overview
Unlike salaried individuals, business owners and freelancers must declare their net profit after deducting allowable business expenses. For Sole Proprietorships, the business income is taxed in the hands of the individual proprietor. Depending on your turnover and business model, you must file either ITR-4 (under the Presumptive Taxation scheme, declaring a flat percentage of revenue as profit) or ITR-3 (requiring the preparation of a full Balance Sheet and P&L account). Our CAs optimize your expense claims to ensure you pay the absolute minimum tax legally possible.
What is Included in Our Package
Detailed compliance and filing scope managed by JRC corporate experts.
Documents Required to Start
Upload digital files during onboarding. No physical submissions needed.
Revenue & Bank Data
- Bank statements of all Current and Savings accounts for the FY
- Details of Total Gross Receipts / Sales (GST Returns if registered)
- Form 26AS / AIS detailing TDS deducted by your clients
Expense & Asset Data
- Summary of business expenses (salary, rent, marketing, software, travel)
- Details of fixed assets purchased during the year (for depreciation calculation)
Step-by-Step Filing Timeline
Our step-by-step advisory workflow.
Step 1: Accounting & Bookkeeping
We process your bank statements and expense summaries to prepare the Profit & Loss Account and Balance Sheet.
Step 2: TDS & 26AS Reconciliation
We match your reported revenue with the TDS deducted by your clients to ensure no mismatch occurs on the portal.
Step 3: Tax Computation
We compute the final tax liability after applying depreciation and Chapter VI-A personal deductions.
Step 4: ITR-3/ITR-4 E-Filing
Upon your approval of the financials, we file the return and e-verify it.
Key Advantages of Expert Business ITR Filing
Proper accounting and filing protect your business from tax scrutiny.
Expense Optimization
We legitimately claim all business-related expenses (rent, travel, internet, depreciation) to significantly reduce your taxable profit.
Presumptive Tax Benefits
For eligible freelancers (Section 44ADA) and traders (Section 44AD), we utilize the presumptive scheme, eliminating the need to maintain complex accounting books.
Carry Forward Losses
If your business suffered a loss this year, filing the ITR on time allows you to carry forward that loss for 8 years to offset future profits.
Frequently Asked Questions
Helpful answers to common regulatory inquiries.
What is the Presumptive Taxation Scheme?▼
Under Section 44AD (for businesses under Rs. 2/3 Cr) and 44ADA (for professionals under Rs. 50L/75L), you don't need to maintain detailed books. You simply declare a flat 8% (or 6% for digital) of turnover as profit for businesses, or 50% for professionals.
When is a Tax Audit mandatory?▼
A CA Tax Audit (Form 3CB-3CD) is mandatory if your business turnover exceeds Rs. 10 Crores (if 95% transactions are digital) or if you claim profits lower than the presumptive rates.
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