For proprietorships
A proprietorship is you. Simplest to run, easiest to neglect.
Most proprietors run the business from one bank account and one phone, and the accounts get made in March, if at all. You and the business are one taxpayer. Your business income goes into your own income tax return, and there is nothing to file with the Registrar of Companies. What you do owe is GST once you cross the limit, TDS once your turnover makes you liable, and advance tax through the year. The presumptive scheme, a fixed-share way of declaring income, can make the tax side much simpler. We keep your books every month, keep them separate from your personal spending, and tell you every amount before its date.
- Every filing is checked before you approve it
- A reply the same working day
- One fixed fee a month
What is different for you
The rules that apply because of how you are registered.
One taxpayer, one return.
Your business income is part of your personal income tax return, filed with everything else you earn.
Your filing dates.
GST where it applies, TDS where it applies, advance tax through the year, and your income tax return once a year.
The presumptive scheme may fit you.
Under the presumptive scheme you declare a fixed share of your turnover as income and skip detailed books. The business version is called 44AD and the version for professionals is 44ADA. For many small proprietors it means less tax and far less paperwork. Leave the business scheme after using it and you are locked out for five years. A tax audit is required in that time. Check with us before you choose.
GST once you cross the limit.
For services, the turnover limit usually protects you even with clients in other states. For goods, registration is needed from the first sale once you sell to other states or on an online marketplace. Tell us what you sell and how, and we will tell you which applies.
TDS only above a turnover limit.
An individual has to deduct TDS only once last year's turnover crossed the limit. Below it you do not deduct at all. This surprises people in both directions.
Advance tax through the year.
How many payments and when depends on whether you use the presumptive scheme. Skipping one costs interest. It is the most common small penalty a proprietor pays.
What we do for you
Every month, this is what we take over.
- Books every month. Kept properly and kept separate from your personal spending. That one habit saves more tax trouble than anything else.
- GST returns. Prepared and filed each period. We check that the GST you paid on purchases comes back to you.
- Your income tax return. Business income included and worked out correctly, with the presumptive option compared against the regular one.
- Advance tax before each date. We send you the amount on WhatsApp.
- A notice on WhatsApp becomes our problem. Routine notices are inside the fee.
The simplest business in India is also the one where business money and personal money most often become one pile. Keeping them apart is half our job as your finance team.
Software does the routine work. Our team reviews every return. You approve, then we file. How it works
Read more
The filings that matter most for you.
Questions
Things people in your position ask.
Do I need to file a separate return for my business?
No. Business income goes into your personal income tax return, in the business income section. One filing covers both.
Should I use the presumptive scheme?
Often yes, if you qualify and your real profit margin is above the scheme's fixed share. If you run a business, that is 44AD. If you are a professional, it is 44ADA. You declare a fixed share of turnover as income, and the detailed books and audit rules ease off. If your real margin is lower than that share, you would be paying tax on profit you never made. So it is a calculation, not a default. We run both and show you the difference.
Do I have to register for GST?
For most services, the turnover limit protects you even with clients in other states. Sell goods to other states, or on an online marketplace, and registration is needed from the first sale whatever your turnover. Tell us what you sell and how.
Should I convert to a Private Limited company?
Convert when there is a clear reason: an investor, liability, or a customer who needs it. A company adds an audit, ROC filings and the late fee with no cap, so it should buy you something specific. We will show you the difference before you decide.
By business type