Proprietorship

A sole proprietorship is a business that is owned, managed and controlled by one person. It is one of the most common forms of business in India, used by small businesses operating in the unorganized sectors.

Proprietorship is a Self-Owned Business that can be register with any business name, provided its legal. There is nothing as proprietorship registration on paper; but it can be recognised as an unorganised business structure under the various departments such as Service Tax, VAT etc. based on the business set-up and category.

Procedure For Proprietorship

What you do

Just fill our Simple Questionnaire so that we can understand your business requirements and provide your KYC.

What We do

We will understand your business and according to that we will help you to register under the suitable department such as Service Tax, VAT etc.

What you get

You will get the registration Certificate from the Department depending upon the nature of your business

Packages

Basic
₹2,999

Select this plan

(Proprietorship registration with TAN registration & MSME under Udyog Aadhaar)

Standard Pack
₹7,999

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(Basic Pack + Service tax registration + Tax Consultancy for one year)

Premium Pack
₹14,999

Select this Plan

(Standard Pack + ITR Filing +Accounting of the Proprietorship Firm for one year)

Advantages Of Sole Proprietorship

  • A sole proprietor has complete control and decision-making power over the business.
  • Sale or transfer can take place at the discretion of the sole proprietor.
  • No corporate tax payments.
  • Minimal legal costs for forming a sole proprietorship.
  • Few formal business requirements.

Frequently Asked Questions

Who can start a sole proprietorship?

Any Indian citizen with a current account in the name of their business can start a sole proprietorship. Registration may or may not be required, depending on what business you are planning to establish. However, to open a current account, banks typically require a Shops & Establishments Registration.

How long does it take to establish a business with Sole Proprietorship?

sole proprietorship business does not take more than 15 days to open-up and get running. This simplicity makes it popular among the small traders and merchants. It’s also much cheaper, of course. This is the other reason why it’s the most widely used business structure.

Am I personally liable for my business under a sole proprietorship?

Yes. Unlike other forms of incorporation, you are personally liable for any of your sole proprietorship’s debts or legal judgments against your business.

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