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A Proprietorship is a popular form of business constitution for businesses that are owned, managed and controlled by a person for profit. Proprietorshipis relatively easy to start is prevalent amongst small and medium sized businesses in the unorganized sectors.
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We give you an opportunity to meet the mandatory annual compliances, which is often deferred by the emerging Proprietorship leading to detrimental impact on the businesses, at a very affordable rate. Rajput Jain & Associates has been helping many startups with its real-time IT filing solutions. Our recent survey confirmed that fact: Every 2nd Startup get Income Tax Notice for tax demands or for non-compliance, 3 out of 7 Startups finds place on the default list of Registrar of Companies due to non-compliance, 2 out of 4 Startups incur unnecessary pay-out by way of interests and penalties.
This offer would protect your startup from unnecessary taxes, penalties by keeping your business in perfect compliance as you grow. We will assign a chartered accountant dedicated to your filing. He will get in touch with you within 6 working hours for timely annual filings.
Rajput Jain & Associates can help file you file the income tax return for your Proprietorship firm annual return in India.Rajput Jain & Associates can help you start a Proprietorship Firm in India. Proprietorshipis required to file their income tax return each year. Every Individual shall comply with statutory requirements applicable to him forUnder the Income Tax Act, Services Tax, Sales tax, TDS etc.The Proprietorshipshouldensure that
How many people are required to start a Proprietorship firm?
One Person is required to start a Proprietorship firm
What is a sole proprietorship?
A sole proprietorship is a company with only one owner and is not registered with the state, unlike a limited liability company (LLP) or corporation. Starting a sole proprietorship requires no paperwork - all you do to create a sole proprietorship is simply go into business. Although you do not have to file paperwork to set up a sole proprietorship, you do still have to acquire business licenses and permits, just like with any other form of business.
What is a sole proprietorship compliance due date?
|File Sales Tax (VAT) Returns every Quarter within the due dates||File Service Tax Returns every Half Year ( every 6 Months)||Income Tax Return every year before|
|What to do for Annual Compliance||Non Compliance Penal Consequence|
How does a sole proprietorship differ from other company forms?
A sole proprietorship differs from other forms of business in several ways. The chief ways a sole proprietorship is different include:
What are the requirements to be a Proprietorship firm?
The Proprietor must be an Indian citizen and a Resident of India.
What is the capital required to start a Proprietorship firm?
There is no limit on the minimum capital for starting a Proprietorship firm. Therefore, a Proprietorship firm can be started with any amount of minimum capital
How will Rajput Jain & Associates help me start a Proprietorship firm?
A Rajput Jain & Associates will understand your business requirements and help you start a Proprietorship. Based on the requirements, Rajput Jain & Associates can also help register the Proprietorship firm with the relevant Authorities to make the Proprietorship Firm a Registered.
What are the advantage of Proprietorship firm?
Easy to Start
A Proprietorship is easy to form as no cumbersome legal formalities are involved. Its registration is also not essential. However, if the firm is not registered, it will be deprived of certain legal benefits. The Registrar of Firms is responsible for registering Proprietorship firms.
Since the name of a Proprietorship firm is not registered, a Proprietorship firm can choose to have any name - as long as it does not infringe on a registered trademark. However, since the name is not registered, any other person can also use the same business name unless trademark registration is obtained.
Annual Filing NOT Required
A Proprietorship firm is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company. Limited Liability Partnership's and Companies are required to file their annual accounts with Registrar of Companies each year.
Audit NOT Required
A Proprietorship firm is not required to file audited financial statements with the Ministry of Corporate Affairs each year. Therefore, audit of financial statements is not required. However, tax audit may be required for a Proprietorship firm if the turnover exceeds prescribed limits.
Rajput Jain and associates is the largest online service platform in India which provides easy solutions in starting their new business at affordable cost. We aim at helping the entrepreneurs at every legal and regulatory step. We stay as your partner during entire business cycle and ensure that the business keeps prospering and remains complaint.
Rajput Jain and associates is a network of experienced chartered accountants, lawyers, company secretaries, cost accountants, financial experts, expert bankers all over India to provide the needed services for small and medium size enterprises.
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All the information related to any client is considered confidential and never be disclosed to anyone.
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Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
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Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
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We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.
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