Register your Sole Proprietorship easily in 5-7 working days anywhere in India.
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Sole Proprietorship means one man ownership in which single person get all profits and make decisions on his /her own different to One person company ,limited liability partnership and private limited company where you need to take other partner or shareholder consent In major situations
Sole proprietor examples are small businesses, such as a, a local kirana store Contractor,Freelancer,Home based Business,Computer Service Provider, or an IT consultation service. When you start offering goods and services to others, you form a Sole Proprietorship.
To start a sole proprietorship in India
You need to Register a sole Proprietorship,firm in case of opening a bank account in Name of business made mandatory by reserve bank of india by providing two forms of registration along with theProprietor PAN Card, identity proof and address proof of the Proprietor.
Two forms of registration can be-: service tax registration, MSME registration, VAT/TIN/CST registration, shop & establishment Act registration, Professional license, Chartered Accountant certificate or others as provided in the RBI Know Your Customer norms.
Manufacturing or Trading
Goods and products
Tan using pan card
Store or factory
Selling day to day life products
Micro , small and medium
Basic Requirement To Register Sole Proprietorship
A Sole Proprietorship can be registered in India by just one person.
Minimum compliance is required to get it up and running.
It is relatively lesser expensive to start this type of business
A person name can be used for business, in case Proper name since the name is not registered
Documents Required to register Sole Proprietorship
Self attested copy of Pan card
Self attested copy of Aadhaar
Self attested copy of Address Proof
Address Of Office.
If Parental property:-No objection certificate(NOC) signed by owner.
If Parental property:Electricity bill or any other address proof.
Rented Property:Rent agreement and NOC from a landlord.
As a sole proprietor, you must file Income Tax Return annually.
Also, you need to file your GST Return if you are registered under GST.
A sole proprietor should also deduct TDS and file TDS return if liable for Tax Audit
Easy to form:-
For Registering sole proprietorship there is no complex requirement to fulfil , only need business name , Proprietor pan card , aadhar card to register while additional services trademark can take time
Easier to Operate:-
Sole Proprietorship can be operated by a single person without building complex structure for functioning .
Ease in Tax Compliance:-
Proprietor would only have to file income tax returns if the firm has taxable income of more than Rs 2.5 lakhs per annum.
Lower cost to manage:-
Sole Proprietorship is low on cost for managing and operating over short as well long term compared to a One Person Company (OPC)
Sole proprietorship businesses typically require less paperwork and are easier to maintain than partnerships or corporations. The business owner is responsible for the debts and liabilities, and the accounting and record keeping methods are usually simple and straightforward.
Sole Beneficiary of Profits
In sole proprietorship proprietor gets all profit made from business
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No, the Proprietorship firm and the Proprietor are one and the same. The PAN Card of the Proprietor will be the PAN Card of the Proprietorship business.Therefore, there will be no separate legal identity for the business. The assets and liabilities of the Proprietorship business and the Proprietor will also be one and the same.
Proprietorship firms do not have a Certificate of Incorporation or Certificate of Registration. The identity and legitimacy of a Proprietorship firm is established by registering with the relevant or applicable Government authorities.