Proprietorship firms are required to maintain compliance like LLPs and Companies registered in India. Proprietorship firm compliance mainly includes filing of income tax return, while corporate entities like LLP and Company require both income tax return filing with the Income Tax Department and annual return filing with the Ministry of Corporate Affairs. In addition to the basic compliance, proprietorship firms may also be required to comply with TDS regulations, GST regulations, VAT / CST regulations, Service Tax regulations, ESI regulations and others. The compliance requirement for a business would vary based on the type of entity, industry, state of incorporation, number of employees and sales turnover.
Abidix is the largest business services platform in India, offering a variety of services like proprietorship compliance, LLP registration, trademark filing, GST registration, income tax filing and more. Abidix can help you maintain compliance of your proprietorship. Get a free consultation for proprietorship compliance maintenance through Abidix by scheduling an appointment with an Abidix Advisor.