Proprietorship Registration

Sole Proprietorship is a form of Business Organisation which is owned, managed and controlled by an Individual who is the recipient of all profits and bearer of all risks and it is most suitable for Small Businesses especially in their initial years of Incorporation. Following are some of the important attributes of Sole Proprietorship:

Formation and closure: There is no separate law that governs the sole Proprietorship. Hardly any legal formalities are required to start a sole proprietorship, though in some cases it requires a license. Closure of the business can also be done easily.
Liability: Sole Proprietor have unlimited liability, which implies that sole owner is responsible for the payment of debts in case the assets of the Business are not sufficient to meet all the debts.
Sole Risk Bearer and profit recipient: The risk of failure of business is borne all alone by the sole Proprietor. However, if the Business is successful, the sole owner enjoys all the benefits.
Control: The right to run the Business and make all the decisions lies absolutely in the hands of Sole owner.
No Separate Entity: In the eyes of law, there is no distinction made between the sole trader and his business as business does not have an identity separate from the owner.
Lack of Business Continuity: Since sole proprietorship business is owned, managed and control by one person, therefore death, insanity, imprisonment or bankruptcy of sole owner will have direct and detrimental effect on the Business and may cause closure of the Business.

Advantages of Sole Proprietorship

Decision making is prompt as there is no need to consult others.
Sole decision making allows the owner to maintain confidentiality and secrecy.
Sole proprietor directly reaps the benefits of his/her efforts as he/she is the sole recipient of all the profits.
There is personal satisfaction involved in working for oneself which gives the sense of accomplishment and confidence in one’s abilities.
Sole Proprietorship is the least regulated form of Business, as it is easy to start and close the Business as per the wish of the owner.

Documents required to register Sole Proprietorship Firm

Scanned Copy of Aadhar Card of the Proprietor (self attested)
Scanned Copy of PAN Card of the Proprietor (self attested)
Copy of the Utility Bill for address proof. If the registered office premise is rented, then copy of the Rent agreement along with the Utility Bill. If the registered office premise is owned, then property papers are required along with the Utility Bill.
Scanned copy of the NOC (No objection certificate) for using the premise as the registered office.

Procedure for Sole Proprietorship Firm Registration

There is no specific registration process or procedure prescribed by the Government for the sole proprietorship registration in India.

However any individual can start their business under sole proprietorship form by taking one or more registration/ license which are as follows:

MSME Registration
GST Registration
Trademark (In Case You Want No One Can Use Your Business Name)
Shop and Establishment License
FSSAI Registration (In Case Proprietor Is Doing Business Of Food And Related Articles)
Import and Export Code (In Case Proprietor Is Doing Business Of Import Or Export)
Copyright (In Case You Want To Work Of Writing, Artistic, Literature).

Taxindiafiling with its specialised team of experts helps you to take the sole proprietorship registration by these 3 simple steps:

Verification of Documents – Our Business expert will call you for verification of documents submitted by you.
Registration Completed – Get your Certificate of Registration.
Delivery – We will deliver all the printed documents at your doorstep.

Pricing Tables

Pricing of Proprietorship Firm

Silver

^Rs.2199.00all inclusive fees

PAN & TAN
GST Registration
Business Management Guidance
One Bank Current Account Opening
GST Invoicing Software
3 months GST Return filing
Import and Export Code
ESI & PF REGISTRATION
Udhyam Registration

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Gold

^Rs.4999.00all inclusive fees

PAN & TAN
GST Registration
Business Management Guidance
One Bank Current Account Opening
GST Invoicing Software
12 months GST Return filing
Import and Export Code
ESI & PF REGISTRATION
Udhyam Registration

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Signup/Signin To Upload Relevant Documents

Diamond

^Rs.9999.00all inclusive fees

PAN & TAN
GST Registration
Business Management Guidance
One Bank Current Account Opening
GST Invoicing Software
12 months GST Return filing
Import and Export Code
ESI & PF REGISTRATION
Udhyam Registration
Income Tax Filing

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Signup/Signin To Upload Relevant Documents