Sole Proprietorship is the most popular and simplest business structure under which one person can operate a business. There is no separate registration formality for proprietorship business.
But our firm suggests you to take a license under shop & establishment act to comply with labour laws and need to take additionally food license under FSSAI in case of carrying food related business.
Get to know more of Proprietorship?
- Sole proprietorship is registered in the name of owner and he is solely responsible for the carrying the business.
- Sole proprietorship is easy to setup and compliance cost is also nominal.
- They need to file Income tax return every year and also have to file GST returns if GST is applicable to them. These are the only 2 compliances that must be followed by sole proprietor.
- Sole proprietorship is not a separate legal entity hence owner is personally liable for all the liabilities of business it means creditors can sue against the owner for their dues.
What is included in the package?
- MSME registration
- GST Registration (free)
- PAN & TAN
- Assistance in opening bank Current A/c in ICICI and Kotak.
Steps we follow
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1
Registration of proprietorship
Registration depends on the potential of business you carry. Our experts will understand your business potential and accordingly will suggest you the best suitable registration for your business.
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2
Documents required
Our firm will send you the checklist of documents required like passport size photograph and identity proof etc.
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3
Approval
once the registration is approved, our firm will send you the certificate of registration of proprietorship.