Online Company Registration in India
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Proprietorship Firm Registration

Proprietorship Firm registration is undertaken by entrepreneurs who want to solely manage their commercial activities. A Proprietorship or Sole- Proprietorship Firm can be set up almost instantly and does not require registration formalities. Therefore, it is more well received in India, and more specifically, in the trading community. However, it does not share the advantages enjoyed by other business entities. The major drawback of setting up a Sole-Proprietor business is that it poses unlimited liability on the owner.

Procedure for Proprietorship Firm Registration (3-5 Days)

As a proprietorship does not require formal registration; we consult you regarding the establishment in accordance with the regulations.

Consulting Process

Service tax registration is the only proof of the existence of a proprietorship company. Registering service tax takes about ten to fifteen days.

Registering Service Tax

Registration process completed

Done

  • Address proof (Passport) / Driver’s License / Voter's ID)
  • Identity proof (PAN card), and in case of a foreign national (passport)
  • Passport Size Photograph
  • Bank Statement / Telephone or Electricity Bill
  • Identity proof (PAN card), and in case of a foreign national (passport)
  • Conveyance Deed/Lease Deed/Rent Agreement/Sale Deed
  • Notarized rent agreement
  • Certificate of No-Objection from Landlord
  • Consulting for the right business structure
  • Connecting with appropriate authorities and personnel

Advantages of Setting Up a Proprietorship Firm Registration :

  • Less paperwork and compliances
  • Easy to set-up
  • No annual filings required
  • Less expensive than OPC
  • Not taxed if the turnover is less than two lakhs
  • Does not require registration

A sole proprietorship is not a distinct entity from that of the proprietor. The structure does not pay the tax. However, the proper reports his losses and profits on his income tax return.

Personal liability is one of the major setbacks of sole-proprietorship. This implies that in the case of a debt occurred; the collector has the power to take over your personal assets.

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