Proprietorship

Starting from INR 1,499

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Proprietorship Registration

Proprietorship Firm is common & most cost effective procedure to start business in India. A sole proprietor become single owner of business and it is easy to start and close. In this business legally has no separate existence from its owner. Income and losses are taxed on the individual’s personal income tax return.

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of enterprise that is owned and run by one natural person and in which there is no legal distinction between the owner and the business entity. The owner is in direct control of all elements and is legally accountable for the finances of such business and this may include debts, loans, loss, etc. The sole proprietorship is a popular business form due to its simplicity, ease of setup, and nominal cost.

The sole trader receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor’s.

A sole proprietor may use a trade name or business name other than his, her, or its legal name. They may have to legally trademark their business name if it differs from their own legal name, the process varying depending upon country of residence.

Features

Proprietorship in India is a popular business form due to its simplicity, ease of setup, and nominal cost.

Complete Control of Proprietor on business.

Tax Advantage- Slab wise tax rates in there instead of flat tax as in other legal structure.

Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. ; i.e. unlimited liability is there.

Fund Raising is difficult activity in proprietorship setup.

Neither shares can be transferred nor partner can be added.

For Opening a current bank account on the Firm Name or Business Name which is required , legal registration are required which can be GST, MSME registration, Shops Act etc. based on business.

Need of GST Registration
  • Silver

  • 1,499
    • TAN
    • PAN( If Not Done)
    • MSME Registration under Udyog Aadhar
    • Shop Act License
  • Gold

  • 3,799
    • TAN
    • PAN( If Not Done)
    • MSME Registration under Udyog Aadhar
    • Shop Act License
    • GSTIN
  • Platinum

  • 10,299
    • TAN
    • PAN( If Not Done)
    • MSME Registration under Udyog Aadhar
    • Shop Act License
    • GSTIN
    • Trademark Filing
Process One

ComplyPartner Team would understand business

Process Two

Day 1-Client To Share Documents With ComplyPartner Team

Process Three

Day 1- Apply for GST, MSME, Trademark and Shop Act License

Process Six

Congratulations, now you can start your business

Process Five

Day 7-GST Registration Done For The Business

Process Four

Day 2- MSME License,Trademark and Shop Act License Done

Documents Required for Proprietorship Registration

PAN Card of Proprietor

Aadhar Card of Proprietor

Bank Statement of Proprietor

2 Photograph

Address Proof of business

Utility Bills of address proof of business