A sole proprietorship is not taxed differently the business owner has to file the tax of the business-like individual returns. A proprietor has to file the proprietorship tax returns in Ludhiana as per the prevailing income tax rules. The income tax rates are however dependent on the slab rates that are applicable over his income.
Who is eligible for proprietorship tax return filing in Ludhiana?
Is it necessary to carry audit while proprietorship tax returns filing in Ludhiana?
Based on the annual turnover of the proprietorships must be audited. An audit is required for the proprietorship firms in the following three conditions:
If the turnover of the proprietorship firm carrying business is exceeding Rs.1 crore during the given financial year.
In the case of professional auditing is required if the total gross receipts are exceeding Rs.50 lakh.
In case if the proprietorship has opted for a presumptive taxation scheme, irrespective of the turnover an audit should be carried.
The audit of the proprietorship firms needs to be carried out by a certified chartered accountant. The CA has to ensure that all the books of accounts are maintained and complied with.
What is the due date for filing the income tax return for a sole proprietorship firm in Ludhiana?
|Income tax return filing wherein the audit is required||31st July|
|Income tax return filing where the audit is required||31st October|
To file income tax returns for Proprietorships in Ludhiana contact our Compliance team or visit us at www.indiafilings.com
IndiaFilings has over 1 lakh customers and we have completed over 7 lakh services through our platform. At IndiaFilings, we take pride in the services delivered by us and guarantee your satisfaction with our services and support. We constantly improve and strive to deliver the best accounting, financial or secretarial services through the internet.
One Person Company | Nidhi Company | Company Registration | Tax Notice | Indian Subsidiary | HSN Code | Section 8 Company | Trademark Search | USA Company Registration | FSSAI Registration | Import Export Code | ESI Registration | Proprietorship | GST Return Filing | Patta Chitta | PF Registration | Payroll | Business Tax Return Filing | PF Return Filing | Eway Bill | GST Registration | TDS Filing | Udyam Registration | Trademark Registration | Startup India Registration | Professional Tax | Personal Tax Filing | Check Company or LLP name Availability
Partnership | Limited Liability Partnership | Digital Signature | Copyright Registration | Unified Portal | PAN Card Download | Nadakacheri | Flipkart Seller | Caste Certificate | IAY | EPFO Passbook | Domicile Certificate | Udyog Aadhaar | PF Withdrawal | Karnataka One | Encumbrance Certificate | Bonafide Certificate | Instant PAN Card | E PAN Card | Income Certificate | Marriage Certificate | Passport Renewal | Nivesh Mitra | MSME Registration | Experience Certificate | Trademark Status | Trade License | Domicile | eMitra | UAN | PICME | Resignation Letter Format | Ration Card | TNREGINET | RAJSSP | LLP Compliance | Form 16 | Police Clearance Certificate | OBC Certificate | Jamabandi | Mee Bhoomi | SC Certificate | UAN Login | eAadhaar Download | Linking Aadhaar To Bank Accounts | mAadhaar | Aadhaar Enrollment Centre | UAN Passbook | Amazon How to Sell | PAN Card Apply | EPFO Unified Portal
We are available