Best Business structure for One Person with easy Investment and expenses on compliances. Suitable for small traders and manufacturers
INR 4,499 2,499/-including Govt. Expenses
The package includes:
- Business Activity discussion
- Proprietorship name finalization
- GST & MSME Registration Certificate
- Annual Tax Returns
REQUEST A CALL BACK
Overview
Sole Proprietorship is the simplest form of business entity where one can have their business up and running within just 5 days with minimum compliances. A sole proprietorship, also known as the sole trader, individual entrepreneurship is a type of enterprise that is owned and run by one person and in which there is no distinction between the proprietor and the business entity legally. Proprietor is in direct control of all elements of business and is accountable for the profits or losses of business and which may include debts, loans, loss, etc.
It is a type of unregistered business entity that is owned, managed and controlled by one person. Sole proprietorship’s are one of the most common forms of business in India, used by most micro and small businesses operating in the unorganized sectors. This type of entity is easy to start and carry minimal regulatory compliance requirement operating. However, after the startup phase, proprietorship’s do not offer the promoter a host of benefits such as limited liability proprietorship, corporate status, separate legal entity, independent existence, transferability, perpetual existence – which are desirable features for any business. Thus, proprietorship Business is suited for unorganized, small businesses owners looking limited period of existence or less compliances.
Technically, it does not even need a registration but is recognized by other registrations such as GST, VAT etc. This is the most popular form of business in the unorganized sector, especially for micro and small businesses, but it is not devoid of certain demerits. Since its existence is validated by its proprietor or owner, it is also implied that it also does not enjoy the benefit of perpetual existence in the event of death or incapacity of the owner.
Compliancekart is the Industry leader and trusted Company in Registration and managing hundreds of Companies across India. With a team of expert professionals, we offer exceptional services in minimum time. Get a free consultation for Proprietorship Registration and business setup in India by scheduling an appointment with our expert professionals.
Advantages
Minimum Compliances
As a Proprietorship firm is an unregistered non-legal entity, it has to maintain very few compliances to be followed.
Ease of Establishment
It takes only as less as 5 days to commence a business as a Sole Proprietorship, with minimum documents like identity and address proofs and only a couple of registrations.
Control over Business
Since the proprietorship is registered in the name of one person, all the decisions are taken by proprietor and proprietor enjoys the control over business.
Inexpensive
The simple procedure of commencement makes it inexpensive in the short term and minimal compliances lower the expenses in the long-term.
No Audit Required
A Proprietorship Firm does not attract Audit provisions unless the sales turnover exceeds 1 Cr and if the proprietor is a professional then turnover exceeds 40 Lakhs.
Registration Procedure
Information Exchange and Document Submission
With the business information you provide us, we will guide you on the registration requirements regarding Taxes, Shop and Establishment etc. and the specific documents required for the same.
Filing of Applications
All the required applications for registrations such as Shop and Establishment, GST, IEC, FSSAI etc. will be filed as applicable and we will fully take care of their individual procedures.
Commencement of Business
You will have the business up and running within 5-10 days, depending on the time taken in processing by the various registration authorities.
Documents Required for Registration
Self-Attested PAN Card of Proprietor
Identity Proof of the Proprietor
Address Proof of Proprietor
Address Proof of Business
Sales Deed/ Rental Agreement copy in case of commercial Shop/Establishment.
Passport-sized photographs
Detail of Bank Statement
Copy of Aadhar of Proprietor
How ComplianceKart helps in this Entire Process
Consulting
Our Company Incorporation experts will provide you best consultancy on Registration procedure and the required documents to be provided.
Help in preparing Relevant Documents
We help our clients in preparation of application and necessary documents to be presented to Registrar for Registration.
Filing of Document with Registrar
We will fill the e-Form INC 32, MOA & AOA along with necessary documents required for getting the approval which is obtained within 10 -12 days.
Follow-Up
Our experts continuously follow up with the development with the Authorities and ensure speedy registration process.
Frequently asked Questions for the registration
What is the period of validation of a trademark?
Two days after the submission of the application makes you eligible to use TM with the trademark. The trademark number is assigned to the company within the same period of time..
What is meant by classes in a trademark?
Two days after the submission of the application makes you eligible to use TM with the trademark. The trademark number is assigned to the company within the same period of time.
When is a company eligible to use TM with its trademark?
Two days after the submission of the application makes you eligible to use TM with the trademark. The trademark number is assigned to the company within the same period of time.
Compare Your Options
Private Limited
Ideal For
Venture Capital Fundind
Limited Liability Protection
Existence of Business
Tax Advantage
Compliances
Time taken in Incorporation
Cedibility
Limited Liability Partnership
Ideal For
Venture Capital Fundind
Limited Liability Protection
Existence of Business
Tax Advantage
Compliances
Time taken in Incorporation
Cedibility
Partnership Firm
Ideal For
Venture Capital Fundind
Limited Liability Protection
Existence of Business
Tax Advantage
Compliances
Time taken in Incorporation
Cedibility
One Person Company
Ideal For
Venture Capital Fundind
Limited Liability Protection
Existence of Business
Tax Advantage
Compliances
Time taken in Incorporation
Cedibility
Proprietorshup Firm
Ideal For
Venture Capital Fundind
Limited Liability Protection
Existence of Business
Tax Advantage
Compliances
Time taken in Incorporation
Cedibility
GST Consultation
Get free consultation on GST Registration and Returns from a Compliancekart Professional. Let's talk!Learning Center
Hello world!
Welcome to WordPress. This is your first post. Edit or delete it, then start writing!
ABOUT US
ComplianceKart is a professionally managed company to provide virtual compliance support to startups and business. Our main agenda is to avoid the non-compliance cost and provide with quality services virtually.
FOLLOW US
Privacy Policy | Terms & Conditions | Cookies © 2022 All rights reserved.