The Income Tax Department has categorized the taxpayers into the group to ease the tax compliances this categorization is done based on the income and the sources of the income. ITR 1 Return filing in India is for people with an income of up to Rs.50 lakh.This article is a comprehensive guide to understand the ITR 1 Sahaj Form. Each category of the taxpayer has to compute the taxable income as it is laid down in the Income Tax Act,1961. Post computation it is necessary for the taxpayer to file the Income Tax Returns.
Advantages of sole proprietorship.
Less complaince and complexity – There is very less compliance in proprietorship business as compared to other types of business and minimal amount of complexity
Sole Ownership – There is single ownership of entire busniss and all the assets and liability belongs to proprietorship.
Easy to Establish with less Formalities:
Access to Mudra Laon Scheme of Government:
Privileged to choose any Name
Renit Advisors Proprietorship Firm Package
✅ MSME Udyam Registration
✅ CA Certificate
✅ TAN
✅ GST Registration