The Classic Partners LLP

Proprietorship Compliance

A sole proprietorship is simple to run but still has tax and registration obligations. We handle income-tax, GST, and the other filings a proprietor needs to stay compliant.

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What is Proprietorship Compliance?

A sole proprietorship is a business owned and run by one person, and it is not a separate legal entity from the proprietor. Its compliance is built around the proprietor's tax filings and the registrations the business needs, rather than ROC or MCA filings.

We handle the tax side and the registrations together, and help with the registrations through our statutory registration service.

Proprietorship Compliance Checklist

The proprietor's income-tax return covering the business income.
GST registration and returns where applicable.
TDS deduction, payment, and returns where applicable.
A tax audit if the turnover crosses the prescribed limit.
Books of account and supporting records.

Registrations a Proprietor May Need

Depending on the business, a proprietor may need GST, MSME or Udyam, Shop and Establishment, professional tax, or an Import-Export Code. We assess what applies and obtain the registrations through our statutory registration service.

Our Proprietorship Services

Income-Tax Return

Filing the proprietor's return covering the business income.

GST Returns

GST registration and periodic return filing where applicable.

TDS Compliance

TDS deduction, payment, and return filing.

Tax Audit Support

Tax audit where the turnover crosses the prescribed limit.

Bookkeeping & Accounts

Maintaining the books and preparing financial statements.

Business Registrations

MSME, Shop and Establishment, and other registrations.

Why Choose The Classic Partners

Specialised experience with proprietorship tax and registrations.
End-to-end handling of income-tax, GST, and business registrations.
Timely filing so returns and registrations are kept current.
Transparent fees and a single point of contact.

Related Services

Explore other compliance and registration services we handle:

Frequently Asked Questions

What compliances does a sole proprietorship have?

A proprietorship mainly files the proprietor's income-tax return, GST returns where applicable, and TDS returns, and may need a tax audit if turnover crosses the limit.

Is a proprietorship a separate legal entity?

No. A sole proprietorship is not separate from its owner, so the business income is taxed in the hands of the proprietor.

Does a proprietorship file with the ROC or MCA?

No. A proprietorship is not a company, so it has no ROC or MCA filings. Its compliance is built around tax and business registrations.

When does a proprietorship need a tax audit?

A tax audit is required when the turnover or gross receipts cross the limit prescribed under the income-tax law for the year.

Does a proprietor need GST registration?

GST registration is needed when the turnover crosses the threshold or when the business falls within a category that requires registration.

What registrations does a proprietorship need?

Depending on the business, it may need GST, MSME or Udyam, Shop and Establishment, professional tax, or an Import-Export Code.

Need help with proprietorship compliance?

Keep your sole proprietorship compliant on tax and registrations.