Visha is your One-Stop Destination and Solution for Online ITR Filing

  • Sole Proprietors – Presumptive
  • Sole Proprietor – Non-Presumptive with Books


Now, pay your income tax online in just 3 easy steps!

What is Income Tax?

Income tax is a type of tax that the central government charges on the income earned during a financial year by individuals and businesses. Taxes are the source of revenue for the government. The government uses this revenue to develop infrastructure, provide healthcare, education, subsidy to the farmer/agriculture sector, and other government welfare schemes.

Taxes are mainly of two types, direct taxes, and indirect forms taxes. The term “income tax” refers to a type of tax that governments impose on income. Income is generated through businesses and individuals within their jurisdiction.

The natural form of Taxes: A tax directly on the income earned is called a direct tax, for example, Income tax is a direct tax. The tax calculation is based on the income slab rates applicable during that financial year.

Indirect form of Taxes: Indirect tax is applied on tax that can be passed on to another individual or entity. An indirect form of tax is generally imposed on suppliers or manufacturers who pass it on to the final consumer. For example Excise duty, Customs Duty, and Value-Added Tax (VAT).

Documents Required for Income Tax Return Filing ( ITR)

As a sole proprietor, the following documents are required for ITR filing:

  • PAN card
  • Aadhar card
  • Bank account details
  • Form 16, 16A and 26AS
  • Advance tax payment challan

Due Date for ITR of Proprietorship Firm

Make sure to pay your income tax return before the deadline.

  • Income tax return filing wherein the audit is not necessary 31 July of every year
  • Income tax return filing wherein the audit is necessary on 31 October of every year.

How to Complete Proprietorship Tax Return Filing?

Depending on the type of proprietorship you own you will have to submit two different forms. Initially, you will have to submit all the required documents including your PAN card to our experts

  • ITR 3 Form: If the proprietorship is run by a Hindu undivided family or any other owner.
  • ITR 4 Form: This one is used by proprietorships that are subject to presumptive tax schemes. 

Why Jagneel Associates?

We complete the ITR filing process carefully and provide you with the complete report by an aware team of experts. If you are filing it for the first time our team of expert consultants will guide you through the process and help you make the right steps.