Proprietorship Tax Return Filing

Proprietorship Tax Return Filing is the process through which proprietors report their business income, deductions, and taxes paid for the financial year to the Income Tax Department. Proprietorships are not considered separate legal entities, so the income earned by the business is treated as the personal income of the proprietor and is taxed under individual income tax rates. Filing tax returns ensures compliance with tax laws, facilitates refund claims for excess taxes paid, and provides a transparent financial record.

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Simplifying Finances, Amplifying Success

Our Proprietorship Tax Return Filing services provide accurate tax calculations, timely submissions, and expert guidance to ensure seamless compliance.

Expert Guidance for Accurate Filing

Our experienced professionals ensure your tax return is filed accurately, minimizing errors and maximizing deductions.

Customized Solutions for Proprietors

We tailor our services to meet the unique tax needs of sole proprietors across various industries.

Maximized Tax Savings

Our experts apply effective tax-saving strategies to reduce your tax liability legally and efficiently.

Timely Filing & Reminders

We provide timely reminders and ensure your tax returns are filed before deadlines to avoid penalties.

Comprehensive Documentation Support

We assist in preparing and organizing all necessary documents for seamless filing.

Dedicated Support & Query Resolution

Our dedicated support team is available to address your concerns and provide expert guidance throughout the process.

Let’s Make Your Finances Simple and Stress-Free

Running a business is hard enough — managing your finances shouldn’t add to the stress. We’re here to help with easy, reliable accounting solutions that keep you on track. From taxes to bookkeeping, we’ve got you covered. Reach out today, and let’s chat about how we can make your financial worries a thing of the past

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Document Required

Key documents such as PAN card, income details, expense records, bank statements, and GST filings (if applicable) are required for proprietorship tax return filing. Our team will help you gather and prepare these documents.

PAN Card of Proprietor

Business PAN Card (if applicable)

GST Registration Certificate (if applicable)

Business Bank Account Statements

Sales Invoices and Receipts

Purchase Invoices and Receipts

Profit and Loss Statement

Balance Sheet (if applicable)

TDS Certificates (Form 16A, Form 16B, etc.)

Tax Payment Challans (if applicable)

Proof of Tax Deducted at Source (TDS)

Form 26AS (Tax Credit Statement)

Process Timeline

Our streamlined process ensures your proprietorship tax return is filed efficiently, helping you meet deadlines and avoid penalties.

Gather Financial Data

Compile financial statements such as profit and loss accounts, balance sheets, and other business income records.

Determine Taxable Income

Calculate total taxable income by adding business and non-business income, and applying eligible deductions.

Pay Tax Due

Deposit any advance tax or self-assessment tax due using the online tax payment portal.

File Income Tax Return

Use the ITR-3 or ITR-4 form (depending on the type of business) to file the return online through the Income Tax Department’s e-filing portal.

Verify Filing

Complete the process by e-verifying the return or sending the signed ITR-V to the CPC.

Find the Perfect Fit for Your Budget

Choose from our range of flexible pricing options that cater to your specific needs.

₹1,999

Basic Plan

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Filing of Income Tax Return (ITR-3) for sole proprietors with business income.

Preparation of profit and loss statement and balance sheet (basic).

Reconciliation of business income with bank statements and books of accounts.

Calculation of taxable income and tax liability.

Filing of TDS and advance tax details (if applicable).

Email support for queries related to filing.

Turnaround Time: 3-5 working days.

₹3,999

Standard Plan

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Filing of ITR-3 for sole proprietors with multiple income sources (business income, rental income, capital gains).

Preparation of detailed profit and loss statement and balance sheet.

Reconciliation with books of accounts for accurate reporting.

Calculation of taxable income, tax deduction (if applicable), and tax liability.

Assistance with advance tax payments and generation of payment challans.

Support for deductions under Section 80C, 80D, and other sections.

Filing of TDS returns if required.

Email and phone support for tax-related queries.

Turnaround Time: 2-4 working days.

₹6,999

Pro Plan

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Filing of ITR-3 for proprietors with complex income structures (e.g., multiple businesses, foreign income, or assets).

Comprehensive audit of books of accounts for accurate tax reporting.

Preparation of detailed profit and loss, balance sheet, and cash flow statement.

Calculation of capital gains, taxable income, and business expenses for tax optimization.

Assistance with advance tax payment and income tax planning.

Guidance on tax-saving strategies and deductions under various sections (80C, 80G, 80D, etc.).

Reconciliation with Form 26AS, AIS (Annual Information Statement), and TDS records.

Filing of TDS returns for multiple business entities if needed.

Personalized tax advisory consultation to ensure proper tax planning.

Priority support for handling notices or tax-related queries.

Turnaround Time: 1-2 working days.

Frequently Asked Questions

Find answers to commonly asked questions about our products and services.

What is proprietorship tax return filing?

It is the process of filing income tax returns for income earned through a proprietorship business.

Which form is used for filing proprietorship tax returns?

Proprietors can use ITR-3 or ITR-4, depending on the type of business and applicability of the presumptive taxation scheme.

What is the presumptive taxation scheme?

Under Section 44AD, proprietors with turnover up to ₹2 crore can declare profits at a flat rate of 6% or 8% instead of maintaining detailed books.

What is the due date for filing proprietorship tax returns?

The due date is typically July 31 for non-audited cases and September 30 for cases requiring an audit.

Is tax audit mandatory for all proprietors?

Tax audit is required if turnover exceeds ₹1 crore or if profits declared under Section 44AD are below the prescribed percentage.

Can I claim business expenses as deductions?

Yes, expenses like rent, salaries, utilities, and interest on loans incurred for business purposes can be claimed as deductions.

What happens if I miss the tax filing deadline?

A penalty of up to ₹5,000 may apply for late filing, and interest under Section 234A may be charged on unpaid tax liability.

Can I carry forward losses in a proprietorship business?

Yes, business losses can be carried forward for up to eight assessment years, provided the return is filed on time.

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