Any individual who has business income is said to be operating a proprietorship firm. Proprietorships operating in India are required to file income tax return each year. Capital Gains Tax advise Since proprietorships are considered to be one and same as the proprietor, the income tax return filing procedure for a proprietorship is similar to individual income tax return filing. Wherever you conduct commercial activity, there is probably an obligation to report your revenues, expenses and profits to the local tax authority. Every country has its own rules that determine what you report and declare. You may even have to file returns of corporate taxable income at a state, cantonal or municipal level too. We have dedicated teams of tax compliance specialists who can assist in completing corporate income tax returns and filing them with the local tax authority.
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