Sole Proprietorship Registration

Register your firm as Sole Proprietorship and avoid following any legal compliances. Have your complete control over the business with Sole Proprietorship Registration.

To avail our services, we charge 499/- as an advance or security payment.

Sole Proprietorship

SOLE PROPRIETORSHIP FIRM REGISTRATION

Sole proprietorship

A Sole Proprietorship is a type of business organisation in which a single person manages the company. In general, there is no need for registration. This type of business form is suitable for anyone who wants to start a business with a low initial investment.

The single proprietor/owner has complete control over the business. A single person who wants to start a business from home or on a premise with a small investment can choose this type of business.

The sole proprietor will invest in the sole proprietorship business. He bears all of the company’s losses and reaps all of its profits. He both controls and manages the company. He can appoint people to run the business, but he will retain sole ownership.

Many local businesses can be formed as sole proprietorships, such as grocery stores, salons, boutiques, and retail stores. Even small traders and manufacturers can establish a sole proprietorship firm.

BENEFITS OF THE SOLE PROPRIETORSHIP FIRM

Listed below are benefit Sole Proprietorship Firm:

    1. There is no Mandatory rule to register a Sole Proprietorship firm.
    2. Every easy to establish without much formalities to follow. Any individual can start it very easily. 
    3. Another important benefit that is attached to the theory of sole proprietorship firm is the minimum compliance requirement.
    4. Sole Proprietorship firm doesn’t need to get its books of account audited with the MCA (Ministry of Corporate Affairs) each year.
    5. Any Sole Proprietor’s income falls under the rate of 2lakhs is realized from paying the income tax.
    6. It’s very easy to start a Sole Proprietorship Firm by any single individual.
    7. To get your Sole Proprietorship Firm Registered, there is no minimum limit directed for the capital requirement as it depends upon the sole owner and his will. 

REQUIRED DOCUMENTS FOR THE REGISTRATION OF SOLE PROPRIETORSHIP.

The given below list of documents are required for Sole Proprietorship Registration:

      • Aadhar Card
      • PAN (Permanent Account Number) Card
      • Bank Account
      • Registered Address Proof

Moreover, there is no particular registration required for sole proprietorship registration in India. But, the owner needs to get the mentioned below registration to run a business smoothly and with ease. 

Some Other Documents needed For The Registration Of a Sole Proprietorship Firm :

      •  Municipal Authorities issued License or the Certificate
      •  Certificate of CST (Central Sales Tax) or VAT (Value Added Tax)
      • All ITR (Income Tax Returns) documents
      • Certificate granted by the Sales Tax or Service Tax or Professional Tax authorities.
      • Certificate granted by the Food and Drug Control Authorities, IMC (Indian Medical Council)
      • IEC (Import Export Code) assigned to the Sole Proprietor by the office of DGFT (Director General of Foreign Trade)
      • Utility bills in the form of the Water Tax Bill, Electricity Bill, and the Landline Telephone Bills were declared in the name of the concerned Sole Proprietor.

Procedure for Sole Proprietorship Registration

Make Enquiry

Get a call back from us

Make a partial payment (Rs.499)

Submit your document

Work Complete

Note: After completing the process, you have to make the whole payment of the amount. 

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Our Packages

Small

2998
  • All expenses and Government fee
  • Registration of Proprietorship firm
  • TAN Number
  • Firm seal

Medium

3699
  • Includes all from Small Package, plus
  • Business Folder
  • 10% Discount on service charges on next order

Large

9099
  • Includes all from Small Package, plus
  • Business Folder
  • 15% Discount on service charges on next order
  • 100 Letterheads & Envelopes
  • 100 Visiting Cards
  • 1 year free TDS Returns

Why Legaltoast?

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FAQs for Sole Proprietorship Firm

No, for a Sole Proprietorship Firm getting registration is not necessary. It is optional and changeable on whether a person wants to register his sole proprietorship or not. But, banks insist on getting a sole proprietorship registered if the owner of the company wants to get a bank account.
Yes, getting Tax Registration is necessary for a Sole Proprietorship Firm particularly in the following listed conditions:
  • If the annual turnover of your business surpasses the limit. 
  • Agents and ISD (Input Service Distributors). 
  • Persons held liable to pay tax under the Reverse Charge Mechanism.
  • The person who provides by way of e-Commerce aggregator
  • E-Commerce aggregator.
  • Producing online data and the information entrance or the retrieval services from any place not in India to a person residing in India, other than a registered taxable person.
The Registration of business that is owned, managed and controlled by a single person. Sole Proprietorship Registration means registering an unregistered business that is owned, controlled, and managed by a single person.
Yes, a Sole Proprietor has the authority to hire an employee. Further, there is no such limitation shown on the maximum number of employees that he or she can hire.
Yes, the Sole Proprietor is regarded as the owner of the company.
Sole Proprietorship Firm as a business structure is preferred by small businesses like the Grocery stores, Photo Studios, Barbershop, and IT consultation services etc.
In the case of a Sole Proprietorship, the concerned Sole proprietor has total control and authority over the business operations and is also entitled to receive all profits.
The compliances that require to be followed once the Sole Proprietorship Firm Registration is done are:
  • File TDS Return 
  • ITR (Income Tax Return) filing 
  • Tax compliances
  • Financial statements drafting 
  • Online tax audit
  • Invoice Documentation of sale and purchase
The benefits attached to the idea of Sole Proprietorship Firm Registration are as follows:
  • Individual’s investment
  • Complete Ownership
  • No sharing of profit or loss 
  • Fewer compliances and formalities
  • Control power
In India, a person can possess many numbers of sole proprietorship firm registered under his or her name. There is no specific restriction or limitations prescribed under Indian Law. Despite, authorized sole proprietor is needed to present valid documents like a valid office address, PAN card, and TAN No for every business he starts.
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