Proprietorship Compliance
Running a sole proprietorship comes with its own set of recurring tax and regulatory obligations — from income tax filing to GST returns and licence renewals.
Proprietorship compliance covers the recurring filings a sole proprietorship must keep up with — income tax returns, GST returns (if registered), TDS deposits, advance tax, and renewal of registrations like Shop & Establishment or professional tax. Because a proprietorship has no separate legal identity from its owner, most of this compliance sits directly with the proprietor's own PAN and tax filings.
What our proprietorship compliance service includes
Keeping the recurring filings for your proprietorship on track through the year.
- Assessing which filings and registrations apply to the business
- Bookkeeping and maintenance of accounts
- GST return filing, where registered
- TDS deduction, deposit and quarterly returns
- Advance tax computation and payment
- Annual income tax return filing and licence renewals
Areas of proprietorship compliance
The obligations that typically apply to a sole proprietorship.
Income Tax Filing
Annual filing of the proprietor's return, along with a tax audit where turnover or income crosses the applicable threshold.
GST Compliance
Periodic GST return filing and reconciliation for proprietorships registered under GST.
TDS & Advance Tax
Deducting and depositing TDS where applicable, and paying advance tax instalments through the year.
Licence Renewals
Keeping registrations like Shop & Establishment and professional tax current and renewed on time.
Our process
From initial review to ongoing filings.
Assess Applicable Filings
Review the business to determine which tax and regulatory filings apply.
Maintain Books & Records
Set up and maintain bookkeeping to support accurate filings.
File Periodic Returns
Handle GST, TDS and advance tax filings as they fall due through the year.
Annual Income Tax Filing
Prepare and file the proprietor's annual income tax return, with audit support if required.
Where proprietorship compliance slips
What sets our approach apart.
Presumptive taxation limits crossed
Once turnover exceeds the presumptive taxation threshold, a full tax audit and different filing route may apply.
GST returns filed late
Missed GST due dates attract late fees and interest that add up quickly for an active proprietorship.
Licences lapse unnoticed
Shop & Establishment and professional tax renewals are easy to overlook without a compliance calendar.
Proprietorship Compliance questions answered
What people ask before engaging us.
Need help staying on top of your proprietorship's compliance?
We'll set up a calendar and handle the filings for you.
