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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 Hurry Up!!! Get it now or never in this price.

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Package Inclusions:

  1.  Business Activity discussion

  2.  Proprietorship name finalization

  3. GST & MSME Registration Certificate

  4.  Annual Tax Returns

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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.

Complykart 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.

Procedure

  • 1

    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.

  • 2

    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.

  • 3

    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

  • 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 Complykart helps in this Entire Process

    Consulting

    Our Proprietorship Registration 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 of Firms.

    Filing of Document with Authorities

    We will fill required application with the Registrar along with necessary documents required for getting the approval which is obtained within 5-10 days.

    Follow-Up

    Our experts continuously follow up with the development with the Authorities and ensure speedy registration process.

    Compare Your Options

    Private Limited Limited Liability Partnership Partnership Firm One Person Company Proprietorshup Firm
    Ideal For entrepreneurs with Vision Profesionals & small Traders Small Businesses Firms Indivisual Promoter Small Business
    Venture Capital Fundind Available Available Not Available Not Available Not Available
    Limited Liability Protection Limited on Promoters Limited on Promoters Unlimited Liability Limited on Promoter Unlimited Liability
    Existence of Business Perpetual Existence Perpetual Existence No Perpetual Existence Perpetual Existence No Perpetual Existence
    Tax Advantage Fewer Benefits Maximum Benefits No Benefits Fewer Benefits No Benefits
    Compliances High Low Minimum High Minimum
    Time taken in Incorporation 7-8 Days 20-25 Days 5 Days 7-8 Days 5 Days
    Cedibility High High Low Low Minimum
    Know More » Know More » Know More » Know More » Know More »

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