Annual Compliances for Proprietorship
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Who are the Individual/Proprietor
Taxpayer other than the Pvt.Ltd Companies, Opc Companies, LLp , Partnership , Ltd companies are to be called as Individual/Proprietor.
Why is an individual or proprietor required to comply with these requirements?
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An individual is required to file an income tax return if their income exceeds the basic exempted limit; if their income stays below this threshold, filing the return is optional.
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Monthly GST returns must be submitted by any person registered under the GST Act.
Deadlines for completing Compliance forms
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The deadline for filing income tax returns is July 31st, following the conclusion of the fiscal year.
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If you are filing for GST, the deadline is the 20th of the subsequent month.
