
connectsoul.in@gmail.com +91-9001908140


	Home About Us Registrations Digital Signature MSME Registration Import Export Code Company Registration FSSAI Registration Shop Act Registration PF And ESI Registration Trademark Registration GST Registration Partnership Firm Registration LLP Registration Startup Registration 12A 80G Registration RERA Registration ISO Registration Trust Registration Society Registration Foreign Office Registration Services Annual Compliances Corporate Compliances Accounting And Book Keeping Payroll Compliances Auditing And Assurance GST Advisory Income Tax Advisory Company Compliances Special Assignment LLP Compliances Startup Consultancy FEMA and FOREX Advisory Valuation Services Financial Crisis advisory services Other Services Funding Solutions Project Financing Business Loan CC And OD Limit Home Loan Loan against Property Education Loan Knowledge Bank Calculators GST MRP Calculator GST Rate Calculator GST Calculator Tax Calculator TDS Calculator Calculate Net Profit Calculate Net Worth Effective Capital HRA NSC EMI Auto Loan Calculator Home Loan Calculator Get No. Of Installment RERA Calculator Developers Calculator Home Buyer Delay Interest Home Buyer Refund Bulletins RBI SEBI Notification Circular Income Tax Service Tax Central Sales Tax Excise Matters Customs Company Law Labour Laws FEMA The LLP Act 2008 Accounting Standard (INDAS) Others GST VAT Delhi VAT Maharastra VAT Gujarat VAT Telangana VAT Tamil Nadu VAT IGST UTGST Compensation Cess IBC Regulation Utilities Rates of TDS TDS Rates for N.R.I us 195 Rates of Income Tax Depreciation Rates Companies Act Depreciation Rates Income Tax Act ROC Filing Fees (Cos Act, 2013) ROC Fee Structure (Cos Act, 2013) Cost Inflation Index IFSC Codes MICR Codes Rates of NSC Interest Gold and Silver Rates Rates of Stamp Duty LLP Fees National Industries Classification HSN Rate List Deduction u/s 80TTA Vs 80TTB Links Quick Links Important Links GST/VAT Links Ease Of Doing Business Acts Direct Tax Income Tax Act Wealth Tax Act Income Declaration Scheme 2016 Income Tax 2025 Indirect Tax Service Tax(Finance Act, 1994) Central Sales Tax Act, 1956 The Central Excise Act, 1944 Customs Act, 1962 Entry Tax Act Corporate Laws Companies Act, 2013 Companies Act, 1956 LLP ACT SEBI Act, 1992 Company Secretaries Act, 1980 VAT Laws Delhi Value Added Tax Act, 2004 MVAT Act, 2002 West Bengal VAT Act, 2003 Tamilnadu VAT ACT, 2006 Karnataka Value Added Tax Act, 2003 Gujarat Value Added Tax Act, 2003 UP VAT Act, 2008 Rajasthan Value Added Tax Act, 2003 Punjab Value Added Tax Act Haryana Value Added Tax Act Telangana VAT Act 2005 Andhra Pradesh VAT Act, 2005 Bihar Value Added Tax Act, 2005 Other Statutes ESI Act, 1948 PF Act, 1952 Profession Tax Act The Indian Partnership Act, 1932 Societies Registration Act, 1860 Competition Act, 2002 Reserve Bank of India Act, 1934 MRTP Act, 1969 Equalisation Levy Act, 2016 Right To Information Act, 2005 FEMA, 1999 Maharashtra RERA RERA, 2016 Insolvency & Bankruptcy Code, 2016 Benami Property Act 1988 GST Laws IGST Act , 2017 CGST Tax Act, 2017 UTGST Act, 2017 GST (Compensation to States) Act Rules Direct Tax Rules Income Tax Rules Wealth Tax Rules 1957 Income Declaration Scheme Rules 2016 Indirect Tax Rules GST Valuation Rules , 2016 Service Tax Rules CST (Delhi) Rules, 2005 CST (Maharashtra) Rules Customs Valuation Rules Cenvat Credit Rules, 2017 Entry Tax Rules Corporate Laws Rules Companies Rules, 2014 LLP Rules, 2009 LLP Winding up Rules, 2012 Cos Unpaid Dividend Rules, 1978 VAT Laws Rules Delhi VAT Rules, 2005 Maharashtra VAT Rules, 2005 West Bengal VAT Rules, 2005 Tamilnadu VAT Rules, 2007 Karnataka VAT Rules, 2005 Gujarat VAT Rules, 2006 Uttar Pradesh VAT Rules, 2008 Rajasthan VAT Rules, 2006 Punjab VAT Rules Haryana VAT Rules, 2003 Telangana VAT Rules 2005 Andhra Pradesh VAT Rules, 2005 Bihar Value Added Tax Rules, 2005 Other Statutes Profession Tax Rules NBFC Deposits Directions, 1998 NBFC & Misc NBC (Advt) Rules, 1977 NBFC Auditor Report Directions, 2008 Delhi Labour Welfare Fund Rules, 1997 Cost records and audit Rules, 2014 Baggage Rules, 2016 Equalisation Levy Rules, 2016 NCLT And NCLAT Rules Insolvency & Bankruptcy Rules Benami Property Rules, 2016 GST Rules CGST Rules, 2017 IGST Rules 2017 Forms Income Tax Forms ROC Forms (Cos Act, 2013) ROC Forms (Cos Act, 1956) Income Declaration Forms Wealth Tax Forms Service Tax Forms Companies Unpaid Dividend Forms NBFCs Forms LLP Winding up FEMA Forms LLP Forms CGST Forms Accounts and Records GST Forms Advance Ruling Appeals and Revision Assessment and Audit Composition Demands and Recovery Input Tax Credit Inspection, Search and Seizure Offences and Penalties Payment of Tax Refund Registration Returns Transitional Provisions Careers Contact Us

Annual Compliances

Proprietorship

What are the annual compliances for an individual/proprietor?

There are mainly two compliances required for an individual/proprietor. They are:

1. Income Tax Return

2. GST Return ( if the entity is registered under GST)
- GST 3B Monthly
- GSTR 1 (quarterly/monthly)
- GSTR 9 Monthly

Apart from Income Tax and GST regulation, a proprietorship firm may also be required to comply with:
- TDS Regulation
- PF/ESI Regulations and others.

The compliance requirements of a business depend on – the type of entity, industry, state of incorporation, number of employees and sales turnover.

Reasons to major Compliances of a Proprietorship
The following are the major reasons why compliance of proprietorship is required to be maintained:

Income Tax Filing: All proprietorship having a taxable income over and above the exemption limit must file Income Tax. In some cases tax audits may also be requires.

GST Filing: Under the GST regime that rolled out in 2017, all the proprietorship firms registered under GST are required to file monthly, quarterly and annual GST returns.

ESI Return: All proprietorships having ESI registration must file for ESI return. ESI registration is required when a proprietorship employs more than 10 employees.

TDS Filing: All proprietorship that have TAN must file quarterly TDS return and are required to deduct tax deducted at source as per TDS rules.

At Connect Soul, we understand all the needs of your business and can help you maintain compliance with your proprietorship firm. Our service plans include – Income Tax Return Filing, TDS Return Filing, GST Compliance, Drafting of financial statements. Schedule an appointment for a consultation for proprietorship compliance maintenance.