Sole Proprietorship Registration
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Overview
Sole proprietorship is one of the most popular business structures in India. Unlike other companies, it adheres to minimum followings that make business travel more seamless. It is a type of business structure where one person is responsible for handling the entire business transaction. Sole proprietorship does not allow outsiders to interfere in the business process or any other factors unless the owner wishes to do so.
How it works
Register
Fill all the required information requested in the registration form.
Expect a call from us
Once we receive quote request, our experts will get in touch with you immediately.
Service Delivery
After the discussion and submission of required documents, service will delivered. Time of delivery may differ based on the service.
Benefits
Easiest form of business
Easier to start
Lesser investment
No sharing of Profits earned
Lesser legal compliances
Lesser income tax
Information is not made public
Self decision making
Documents Required
Address Proof copy of the Proprietor Aadhaar copy or Driving license copy or Passport copy or Bank statement.
Copy of rental agreement and no objection certificate from the owner of the property
PAN card copy
Frequently Asked Questions
Yes, provided the income of the sole proprietor is above the prescribed threshold limit as mentioned in GST law
Commencing a sole prop business is not that tedious. To commence a sole proprietorship, all you need to do is:
- Opt for a legally suitable business name.
- Procure an apt location for your business.
- File for business or state-specific licences that are in effect for the time being.
A sole proprietorship (aka sole trader, individual entrepreneurship, or simply Proprietorship) refers to a type of unincorporated establishment that is owned by a single person only. It is a simple business form that is quite popular in India
The sole proprietorship model defies the concept of salary being transacted within the business. Whatever the owner earned as a sole proprietor is deemed his/her profit, not pay. However, you have the right to employ individuals and pay them a sole, but you cannot pay yourself that way.
Yes, a sole proprietor can be considered as self-employed because they operate business individually & do not work as an employee. Owing & operating your business affairs legally termed you as a self-employed business owner
A sole proprietor lacks the adequate option for funding and third-party credit. Partnerships enable the business owner to share the operational and financial liabilities, thereby ensuring seamless growth for the business.
Most local establishments function as sole proprietorships, from grocery outlets to food vendors & even small manufacturers & traders. That doesn’t mean that larger businesses cannot function as sole proprietorships. However, it is not advisable from a growth standpoint
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