What are business compliances in India?

Business compliances are mandatory statutory filings and regulatory obligations prescribed by authorities such as MCA, Income Tax Department, GST authorities, and labour departments.

Is ROC compliance mandatory for all companies?

Yes, all registered companies including Private Limited, OPC, LLPs, and Public Limited Companies must file periodic ROC compliances to remain legally active.

What happens if business compliances are missed?

Missing compliances can result in heavy penalties, late fees, director disqualification, legal notices, and business restrictions.

Are compliances different for LLP and Private Limited Company?

Yes, LLPs and Private Limited Companies have different compliance structures, forms, and filing timelines as per MCA regulations.

Does TRAX provide ongoing compliance management?

Yes, TRAX offers end-to-end ongoing compliance management including tracking, reminders, filings, and expert support.

Proprietorship Compliance Services

A Proprietorship requires regular tax and regulatory compliances to remain legally active. TRAX helps sole proprietors manage GST, income tax, and other mandatory obligations smoothly and on time.

✓ GST compliance ✓ Income tax filing ✓ Simple & affordable

What Are Proprietorship Compliances?

Proprietorship compliances include periodic GST filings (if applicable), income tax returns, TDS obligations, and other local registrations. Though simpler than companies, timely compliance is essential to avoid penalties.

Key Proprietorship Compliances

Income Tax Return (ITR)

Annual income tax filing of the proprietor.

GST Returns

Monthly or quarterly GST return filing, if registered.

TDS Returns

TDS filing if tax is deducted at source.

GST Annual Return

Annual summary return, where applicable.

Local Licences

Shop Act or trade licence renewals.

Accounting Records

Basic bookkeeping and record maintenance.

How TRAX Manages Proprietorship Compliances

Understand your business & registrations

Create compliance calendar

Timely return filing

Ongoing support & reminders

Manage Your Proprietorship Compliances with TRAX

Share your details and our experts will help you stay compliant without hassle.