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Setting a Proprietorship Business in India is extremely easy, simple and cost effective with our all-inclusive package for Proprietorship Registration. Our goal is to help small businesses get established in India without any hindrance or hassle.
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(All you need to know)
A proprietorship firm is a single owner business, where the owner is not only entitled to hold the ownership, but is also responsible for the complete management and administration of the business. The proprietor is thus 100% liable towards the business, and shall be required to pay off the liability from his personal pocket. The existence of a proprietorship cannot extend beyond the life of its proprietor.
Owned by a single person
Most common form of business in India
Minimum Regulatory compliances
Ideal for small traders and merchants.
Proprietorship Business Registration in India is not required under any specified law, it does require several other tax and legal registrations like any other form of business would. These include opening a bank account, finalising a registered office address, GST registration, Professional tax registration (if applicable), Shops and Establishment Registration, and MSME registration.
Following Documents are required for Proprietorship Registration:-
Taxtorium can help you in obtaining proprietorship firm registration within one day. All you need to do is place an online order with us and we shall help you start your proprietorship firm in no time. Your order shall be processed by our highly qualified team who shall ensure that the best quality services are provided to you. As mentioned earlier, our process of proprietorship firm registration is completely online so there is no need for you to visit our office. Please do contact us for any clarifications you need.
The process of registering for a Proprietorship in India is completely online. There is no need to submit the documents manually. Once we receive a request, our expert gets in touch with you and briefs you on the whole process. The expert will also guide you about the documents that are required to be submitted.
For opening a business bank account, you need two mandatory documents in the name of your proprietorship. The first one is the Udyog Aadhar card and the second is MSME or Udyam Registration Certificate. These documents enable an entrepreneur to seek online MSME services Read More
GST has replaced the majority of indirect taxes such as Service tax, VAT, Central sales tax, Excise duties, etc. You cannot supply goods or services throughout India, unless your proprietorship firm obtains GST. GST registration for a proprietorship will be obtained by Taxtorium as a part of the service Read More
The Shop and establishment license covers all the business entities to get the business registered. The local municipal corporation issues this license and it depends on the number of employees in an establishment. From state to state, the process for acquiring a Shop and Establishment registration certificate changes Read More
The process of registering for a Proprietorship in India is completely online. There is no need to submit the documents manually. A complete list of the documents required have been mentioned Above. You shall have to ensure that the documents are authentic and updated. Once we receive a request, our expert gets in touch with you and briefs you on the whole process. The expert will also guide you about the documents that are required to be submitted.
The first step for proprietorship registration is to select a unique name for it. The name must be valid and must not infringe the IP rights of any registered trademark. You can begin the process by searching the availability of the names proposed in the public database of trademarks present on the IP India portal. Also make sure that after selecting the name of your proprietorship business, you register it as a trademark to prevent it from being misused or plagiarized in the future.
For opening a business bank account, you need two mandatory documents in the name of your proprietorship. The first one is the Udyog Aadhar card and the second is the MSME or Udyam Registration Certificate. These documents enable an entrepreneur to seek online MSME services and benefits offered by various Government Departments, in addition to the benefits offered under the MSME Act.
For opening a business bank account, you need two mandatory documents in the name of your proprietorship. The first one is the Udyog Aadhar card and the second is the MSME or Udyam Registration Certificate. These documents enable an entrepreneur to seek online MSME services and benefits offered by various Government Departments, in addition to the benefits offered under the MSME Act.
For opening a business bank account, you need two mandatory documents in the name of your proprietorship. The first one is the Udyog Aadhar card and the second is the MSME or Udyam Registration Certificate. These documents enable an entrepreneur to seek online MSME services and benefits offered by various Government Departments, in addition to the benefits offered under the MSME Act.
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Email us: info@taxtorium.com
What is a Sole Proprietorship?
A sole proprietorship firm is the simplest form of business owned and controlled by a single individual. The owner of the proprietorship firm is known as the proprietor. The proprietor alone invests the entire capital and is thus entitled to all the income of the sole proprietorship. The liability of the sole proprietor is unlimited to its business, meaning that the proprietor is liable to pay all its losses and debts from his personal pocket, if such a need arises.
What is the difference between a Partnership Firm and Proprietorship Firm?
A sole proprietorship is an unincorporated entity that does not exist apart from its sole owner. A partnership is two or more people agreeing to operate a business for profit. The Partnership Act governs the Partnership firm, and any specific statutory body does not govern a Sole Proprietorship.
Who can be a Sole Proprietor?
A sole proprietor is the only owner of a Sole Proprietorship business. Any person who is above 18 years of age and who is otherwise capable of entering into a lawful contract is eligible to start a business as a proprietorship. The option to create a proprietorship is available to Indian Citizens only. However, NRIs and OCIs are permitted to establish proprietorship firms and invest only on a non-repatriation basis, otherwise seek a prior approval of the Central Government.
How to register a Sole Proprietorship Firm?
Setting up a sole proprietorship firm is extremely easy and simple as there is no requirement for its registration under any law. No agreement, deed, or documents are required to be prepared for starting a proprietorship business in India.
How to open a bank account for a Proprietorship Firm?
The opening of bank accounts of proprietorship businesses is regulated by the Reserve Bank of India. It has prescribed the submission of at least two identity proofs of the proprietorship in order to open its bank account.
Can I later convert my Proprietorship into a Company or LLP?
Yes, the proprietorship businesses can be converted to LLPs or Private Limited Companies. However, the conversion process is complicated, and unless it is not necessary, we do not recommend conversion of your proprietorship business into any other form.
Will Proprietorship firm have Certificate of Incorporation?
Proprietorship firms do not have a Certificate of Incorporation.
We have packages starting Rs. 1499/-
