Proprietorship Tax Return Filing

Proprietors earning more than INR 2.5 Lacs annually are obliged to file income tax return annually.

Digital Filings can help you in…:

 Analyzing financial performance for tax return preparation

 Compiling required documents

 Filing return with concerned authority

Get Started!

Understanding Proprietorship Tax Return Filing

Sole Proprietorship is the most known business framework in India as it is quite simple to start and requires minimum legal formalities. The proprietors exercising business activities in India are obliged to file tax return annually according to their slab rates, depending on their annual income as prescribed in the Income Tax Act:

  • Proprietors below 60 years of age are bound to pay taxes on their annual income exceeding over INR 2.5 Lacs;
  • Proprietors between 60 to 80 years of age are instructed to file tax returns on their annual income exceeding over INR 3 Lacs;
  • Proprietors above 80 years of age need to file tax returns on their annual income exceeding over INR 5 Lacs.

Mandates for Filing Income Tax Returns (ITR) where Tax Audit is Required:

  • Proprietorship firm with total sales exceeding over INR 1 Crore in a financial year
  • Professionals (CA, Lawyers. Doctors) with gross receipts exceeding over INR 50 Lacs in a financial year
  • Other proprietorship firm under any presumptive taxation scheme, irrespective of its turnover, where-in the claimed income is lesser than the estimated earnings or gains specified under the scheme

All the above cases require Tax Audits and are bound to file ITR by 30th September. Whereas in case of proprietorship firms / professionals that do not require tax auditing need to file ITR by 30th July.

Moreover, Proprietorship firms need to file their respective ITRs in prescribed ITR Forms – Form ITR3 and Form ITR-4 Sugam:

  • ITR through Form ITR-3, can be filed by a proprietor or a Hindu Undivided Family (HUF) who is carrying out a proprietary business or profession
  • ITR through Form ITR-4 Sugam, can be filed by proprietors willing to opt for presumptive taxation scheme under which a profit margin is assumed and helps in simplifying compliance burden.

Key-Elements of MSME Registration

Filing GST*

Filing ITR

Filing TDS*

Managing Accounts

Filing ITR

An ITR file is prepared in accordance to the nature of business and compliance manager will assist the entity in gathering required documents to file the annual ITR.

Filing GST*

Businesses with Goods and Service Tax (GST) Registration number need to file GST return and an expert @ Digital Filings can assist the firms in paying their GST.

Managing Accounts

In order to file annual returns on income, it is obligatory to maintain accounts and manage financial statements to compute the total taxable amount to be paid.

Filing TDS*

Proprietors or professionals with a registered Tax Deduction and Collection Account Number (TAN) are obligatory to file and pay Tax Deducted at Source (TDS).

Assisting on Matters

A dedicated compliance expert will manage all the queries regarding tax return filing of a proprietorship firm or professionals and will assist them as per their convenience. The firms can contact their designated compliance manager anytime to have assured assistance on crucial matters.

*Dedicated and Professional Assistance by Compliance Manager is Available from the Digital Filings at an Additional Charge, which will be Based on the Volume.

We are Glad to Help!

Filing annual ITRs can be a tedious task and lead to penalties if the taxed proprietor or professional is not updated with the ITR processes and legalities, like taxable slabs, and others.

Do Not Worry!

Trained Experts @ Digital Filings can effectively assist proprietors or professional in filing their annual ITR, enabling them to focus on their business related matters.

Pocket-Friendly Options

How we Do It…

Partner @ Digital Filings can help you in maintaining your annual compliances and save you from penalties.


Studying Financial Performance

The ITR process to be followed primarily depends on sole proprietorship’s needs. An expert @ Digital Filings will go through the proprietor’s financial performance and will accordingly suggest that whether to file ITR through Form ITR-3 or Form ITR-4 Sugam.


Arranging Requisite Formats

After finalizing the appropriate filing format, team @ Digital Filings will identify and compile required documents and fill up the essential forms. Post arranging the relevant documents in a requisite format, proprietor’s digital signature certificate (DSC) will be affixed to take the process forward.


Filing ITR

After compiling all the required documents, the ITR will be filed at Income Tax Department along with necessary attachments.

Our Patrons’ Speak

team-3“Heartfelt thank you for proficiently taking care of all the registration related tasks and letting me focus on my business operation without any stress.”


team-3“Highly impressed by the personal attention of the professional staff in getting the GST registration done and arranging the MSME certification for my business.”


team-3“Thank you Digital Filings for all your professional and timely support in getting my company registered.”

Sachin Gupta

team-3“I never thought it would be so easy to get my proprietorship firm registered. Thank you team Digital Filings. I will refer your proficient services to my friends too.”


team-3“Thank you for simplifying the so complicated filing and documentation and getting my business smoothly registered.”


Mission Statement

Every Partner at Digital Filings is Focused... Provide a Comprehensive Legal Assistance Mechanism...
...Diligently Customized for Emerging Entrepreneurs!

We at a Glance...

Digital Filings is a leading business and legal services provider in India, assisting entrepreneurs in effectively and economically setting-up and managing their venture. Digital Filings consistently ensures that your venture is always compliant, so you can efficiently focus on making your business ascend.

Our strong network of proficient partners thoroughly understands the business specific regulatory/legal requirements and is focused to assist business owners at every stage of their venture.

Our panel of competent professionals, including Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Chartered Engineers, Financial Gurus, and Business Experts are just a call away to gladly serve you.


Book your appointment Today!

Media Talks

Knowledge Arena

Be our guest to browse the Knowledge Arena by Digital Filings and widen your knowledge-base. 

Digital Filings always strive to enhance the understanding of our patrons on the Nation's consistently modifying compliance environment. Our well-informed team of partners has diligently compiled numerous articles, guides, videos, and much more that you can browse anytime at your ease.

Why DigitalFilings

Easy Registration

Experts at Digital Filings can proficiently help in registering your sole proprietorship firm, either by getting you a GST / VAT Number, Service / Professional Tax Registration, a Shops & Establishments Act Registration, a Micro, Small & Medium Enterprises (MSME) Registration, or an Import-Export Code.

Supportive Team

The team of well-informed professionals at Digital Filings is just a phone call away to address every concern / query about the registration of your sole proprietorship venture. We will, however, put our best to make sure that all your questions are well-answered even before they strike in your mind.

Expert Support

Experts at Digital Filings precisely understand all of your requirements and strive to ensure that all the desired documents are in place so that you can effectively align yourself with every legal / administrative interaction. We will also provide you complete clarity on the process to set genuine expectations.