Under Income Tax Act, all proprietors below the age of 60 years are required to file income tax return if total income exceeds Rs. 2.5 lakhs. In the case of proprietors over the age of 60 years but below 80 years, income tax filing is mandatory if total income exceeds Rs.3 lakhs. Proprietors over the age of 80 years and above are required to file income tax return if the total income exceeds Rs.5 lakhs.
Propreitorship companies need to file income tax return like llp’s and companies registered in india.As proprietorship companies are considered to be one and same as the proprietor, the income tax return filing of the proprietorship firm is the same that of the proprietor.
A Partnership Firm is a popular form of business constitution for businesses that are owned, managed and controlled by an Association of People for profit. Partnership firms are relatively easy to start are is prevalent amongst small and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence due to the added advantages offered by a Limited Liability Partnership.
To file the income tax return of a partnership firm, book of accounts must be maintained and tax audit may have to be obtained based on various criterias. Sujata Associates offers you partnership tax return with minimum rate.
An excellent Audit service is necessary for any company to be financially sound. Our Audit & Assurance services ensure that there is no mistake or wrongdoing in your company undetected. Some companies have the mistaken idea that audits are only necessary when malicious wrongdoings occur in the data. Thus any company that is large enough needs to have outside audit and assurance done:
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