How to File Income Tax Return for Small Business in India (2025 Guide)
.jpg)
Running a small business in India comes with several regulatory responsibilities—one of the most important being filing income tax returns . Whether you're a sole proprietor, a partnership, or an MSME registered under the Udyam Registration, timely and accurate filing of your returns ensures financial compliance and opens doors to growth opportunities, such as loans, subsidies, and government schemes. Before we dive into the ITR process, let’s highlight something crucial: Having a professionally prepared Project Report for Bank Loan is not just useful for loans but also for maintaining transparency in financial records required for ITR filing, especially under schemes like PMEGP, CMEGP, and Mudra Loan. Step-by-Step Guide to Filing an Income Tax Return for Small Businesses 1. Understand Your Business Structure Your business structure determines the applicable ITR form: ITR-3 : Proprietorship with business income ITR-5 : Partnership Firms and LLPs ITR-6 : Companies other than tho...