how to register a proprietorship company in india
A sole
proprietorship has been the simplest and common form of business for any
traders and merchants in India. An individual proprietor owns and manages the
business and is responsible for all business transactions. The sole
proprietorship firm does not create a legal entity separate from its proprietor
or owner. It simply refers to a person who owns & manages the business and
is personally responsible for all business transactions. A sole proprietorship
can operate under the name of its owner/proprietor or it can do business under
a separate Trade name. A Sole Proprietorship Firm require minimum 2 Legal
Entity Proof to open Current Bank Account.
Option 1 as GST
Registration :
Considering the
business nature one may require the GST Registration either on mandatory or
voluntary bases.
Option 2 as MSME
license :
Go with this
option when you just starting your very small business and not required the GST
Registration in any condition.
What are the
documents required for proprietorship firm?
Aadhar Card
PAN Card
Registered
office proof
Features of
Proprietorship Firm :
Single Owner of
the Business
Easy to Start
and Easy to Close
Complete Control
Lower Cost of
Formation and Compliance
What are the
advantages of a Sole Proprietorship firm ?
Minimal
compliance
Suitable for
small to medium scale businesses
Easy to register
as compared to a Pvt. Ltd. and a limited liability partnership
Greater
flexibility and ease of operations
Basically
Proprietorship Firm Registration is a simple firm registration it’s also called
Sole Proprietorship Firm in that Single owner of the business and Liability is
also the unlimited.
Get Started with
Proprietorship Registration
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ReplyDeleteThanks for sharing the post! Did you know it is super easy to get proprietorship registration done online? It is also super affordable!
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