Proprietorship

From Rs.2,999 /- all inclusive fees

About the Proprietorship

A sole Proprietorship firm is the oldest form of doing the business. The Proprietorship owner is the single person who manages, operate and run the business activity is his name. Sole Proprietorship is very easy to start the business and vary minimal statutory or legal requirements for running the business. However, some advantages not having in the proprietorship like limited liability, separate legal entity, perpetual existence, transferability, and corporate existence. In the proprietorship business, the single individual runs the business and in which there is no legal distinction between owner and business. The individual is retail all profit and unlimited responsibility for losses.

In India, there are no specific rules and regulations for registration and run the Sole Proprietorship business. The existence of Proprietorship is depending on the tax law applicable to run the business like GST. The proprietor obtained the GST registration in his personal name and establishes the proprietorship business.

If you want to start your business with Proprietorship, then you must get it registered. You can contact startup Banao for Proprietorship Firm Registration in India or you can register your business as Partnership Firm.

 

Five Simple Steps for making the Proprietorship

  • 1

    Fill our form with all relevant documents.

  • 2

    We will apply for Registration

  • 3

    We will assist you for open Current Account and other legal papers.

  • 4

    Getting Registration Certificate

  • 5

    Start Business

Benefits of Proprietorship

Sole Promoter

In the form of proprietorship business the individual is the single owner. He retains all the profits generating from the proprietorship business.

Easy to Start

Minimal registration is required for starting the proprietorship business.

Firm name

Proprietor can be chosen any name for his business because the proprietorship business name not registered in anywhere.

Lower of Tax Rate

All income earned by proprietorship business is taxable in the hand of the individual. Individual Income Tax slab are applicable and the income tax threshold limits also applicable for calculating the Tax.

Easy Close

At any point of time the proprietorship can be wind up without any difficulty. Only the tax registration obtain from GST should be closed.

Documents Required for Proprietorship registration

  • Self attested Pan Card Copy

  • Self attested Aadhar Card Copy

    • A. 3. One Latest Colour Passport photo

    • B. Cancel Cheque

    • C. Desired Firm Name

  • Office Address proof

  • Office Utility Bill

FAQS (Frequently Asked Questions)

A sole proprietorship is a business entity with only one owner. He did not registered like limited liability Partnership, Private Limited Ccompany etc. For Starting a sole proprietorship did not requires much paperwork.
A sole proprietorship differs from other forms of business in several ways.
  • a. • Sole proprietorships are the least complex and cheapest form of start the business
  • b. • Sole proprietorships require minimal formal paperwork to start the business.
  • c. • Sole proprietorships do not shield individuals from liability for their business debts or we can say individuals having unlimited liabilities
  • d. • Sole proprietorships are treated as simple income for tax purposes, and do not need to have separate taxes prepared.
The Sale proprietor Pan and address proof along with Registration certificate of firm name required for open a current bank account.
Yes. Unlike other forms of incorporation, the proprietor are personally liable for any loss, debts or legal claims against the business.
Yes it can be possible, when at a point of time the Individual need conversation from proprietorship to private, LLP or OPC can be do.