Proprietorship Firm Registration

Basic Package

3000 3000+Govt Expenses
  • Name finalization for your proprietorship
  • GST Registration
  • Assistance in bank account opening

Gold Package

3800 3800+Govt Expenses
  • All services of basic package
  • MSME Certificate
  • Inclusive of 10% discount on Services of Basic Package
 

Platinum Package

9650 9650+Govt Expenses
  • All services of Gold package
  • Trademark Registration
  • Inclusive of 10% discount on Services of Gold Package
 

What is a Proprietorship Firm

 

You've jumped into the business world for yourself. You don't have excess paperwork to start a sole proprietorship. But there are some important things you need to know before starting your journey in entrepreneur’s world.

 

Is a sole proprietorship right for you to start?

If you're into business and haven't created a formal business structure, then probably you're already working as a sole proprietor– Next step is to understand various implications.

 

Steps to Apply for Sole Proprietorship

  • Create order on our Website
  • We'll collect all your documents and file them directly with the authority
  • You'll receive your completed Sole Proprietorship Company package by mail

Documents Required, Benefits & Taxes

Documents Required 

  • Voter's ID/Passport/Driver's License
  • Passport-sized photographs
  • PAN Card
  • Latest Bank Statement/Telephone or Mobile Bill
  • Rental agreement or sale deed (in case of Shops & Establishment Act Registration).

Benefits: 

  • Low tax liabilities
  • Easy to control as managed by single promoter
  • Freedom to choose any business name but not registered by a company
  • Easy to start with the minimal registration process
  • Easy to shut down the company with very less compliances

Taxes

All business profits are personal income for a proprietor and pay self-employment tax on those profits.

Good to know information

If above conditions satisfy your requirement, then Sole proprietorship best suits your business needs. Now in order to run a proprietorship business, a little more preparation will definitely go a long way.     

Business Licenses


There are different registrations, licenses and permits to start your business. For example, to start your food business as a proprietorship, you might need to register with FSSAI or get FSSAI License.

Tax Advice 

To Prepare & file business taxes can be complicated. Our expert CA/CS will help you to prepare and file tax forms correctly with the minimal fee and on time. 

 

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faq FAQ`s

questionLegal requirements to start Sole Proprietorship

answer
  • Indian citizen

questionDocuments required to open a current account in the name of business

answer
  • Proof of business (Shops & Establishments Registration)
  • PAN card
  • Address proof
  • Identity proof

questionTime required to establish a Sole Proprietorship business

answer

As per industry standards, it’s up to 15 business days but being expert in the industry, we complete the process within 7-10 business days, unless some objection is raised by the authority. 

questionDo I need GST register number to run my business?

answer
  • There are multiple scenarios. For example, if you are running a departmental store and your annual turnover is greater than 5 Lakhs, then you need to register for GST.

  • In case of AC restaurant its mandatory to get GST registration

questionBusinesses commonly registering under Sole Proprietorship business

answer
  • Local businesses like Grocery store, fast food, small traders / manufacturers etc.
  • Jewelry shops are not recommended to register under this category.

questionCan I change my sole proprietorship into a private limited or LLP?

answer
  • You can always choose to restructure your business at any point of time. Whenever you decide your business might be outgrowing its status as a sole proprietorship

  • whether you're looking to take on partners or investors, or you want the benefit of different tax options and liability protection

  • we have expert resources to help you find the business structure that's right for you.

Legal Guide

Download free legal guide on how to successfully start and manage business in India & achieve 100% compliance.

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