Proprietorship Registration

A Sole proprietorship is a type of business which is owned, managed and controlled by a single person. It is one of the most common form of business in India, utilized by small businesses operating in the unorganized sectors.

One of the advantage in Proprietorship firm is that there is no such specific registration requirement under Proprietorship firm subject to other local laws & tax laws requirement like Shop establishment, trade license & GST registration. If we compare it with other type of constitutions like Partnership firm, Company etc. it has too many shortcomings, such as unlimited liability of proprietor, less scope of expansion, less capital contribution etc. For these reasons it is normally considered by small merchants and traders. Startupkaro offer variety of services in this field as per requirement & suitability of clients.

Proprietorship Registration can be done through Startupkaro in Bhilai, Durg, Raipur, Rajanandgaon and all other Chhattisgarh State cities.

Startupkaro – We are the group of professionals having expertise in registration of Proprietorship firm and always keen to help entrepreneurs in decision making and skill analyzing as regards choosing constitution of business.

If you want to know more about Proprietoship Registration Services or seek any advice from our experts, then just call the below given number

Advantages & BenefitsWhy to register Proprietorship

Easy to Start

  • The easiest form of Business
  • Less Legal Formalities with minimum cost
  • Use any business name unless it is a registered trademark

Easy to Manage

  • Single Promoter
  • Full control over Business
  • Easy to wind up- No legal formalities required

Lower Taxes

  • Tax rate structure same as like for Individual person
  • Less tax compliance as compare to another form of business.

Documents and Information Required for Proprietorship Registration

Identity Proof of Proprietor

Copy of PAN Card of Proprietor

Copy of Voter ID of Proprietor

Address Proof of Proprietor

Passport , Driving License , Aadhar , Electricity Bill

Address Proof of Registered Office

Rent Agreement, Sale Deed, Electricity Bill and Property Tax Receipt

Pricing

*
Basic Plan
2999 /-

-Gumasta and Trade License*

– Udyog Aadhar Registration

 

 

Inclusive of all government fee and taxes)

**
Standard Plan
5499 /-

-Gumasta and Trade License*

-Udyog Aadhar Registration

-GST Registration with GST Starter Guide 

 

(Inclusive of all government fee and taxes)

***
Premium Plan
13449 /-

-Gumasta and Trade License*

– Udyog Aadhar Registration

-GST Registration with GST Starter Guide

Trademark Registration

(Inclusive of all government fee and taxes)

*****
-Free and Supports-

– Free Business Startup Guidance 

– Current Account Opening Support 

– Your First Income Tax Return fees are free if you opt our premium plan 

Procedure For Proprietorship Registration

Complete our simple form

You are required to fill your details in our simple questionnaire and submit documents.

Verification of Documents

For further procedures, details provided by you will be verified by our experts.

Submission of Documents

We will create all the required documents and file them with appropriate authority.

Your Work is Completed

Once your proprietorship is incorporated, we will intimate you about the same.

Congratulations

Sample of Documents

Proprietorship Registration FAQs

How many people are required to start a Proprietorship?

Only one person is required to start a Proprietorship and a Proprietorship can have only one promoter.

What are the requirements to be a Proprietor?

The Proprietor must be an Indian citizen and a Resident of India. Non-Resident Indians and Persons of Indian Origin can only invest in a Proprietorship with prior approval of the Government of India.

What are the documents required to start a Proprietorship?

PAN Card for the Proprietor along with identity and address proof is sufficient to start a Proprietorship and obtain other registration, as applicable or required.

What is the capital required to start a Proprietorship?

There is no limit on the minimum capital for starting a Proprietorship. Therefore, a Proprietorship can be started with any amount of minimum capital.

How will Startupkaro help me start a Proprietorship?

A Startupkaro Associates will understand your business requirements and help you start a Proprietorship for obtaining the relevant registrations. Startupkaro will help obtain the necessary registrations to help the Proprietor open a bank account in the name of the business, thereby proving an identity for the business.

How to open a bank account for a Proprietorship?

To open a bank account for a Proprietorship, Reserve Bank of India mandates that the proprietor provide two forms of registration for the Proprietorship along with the PAN Card, identity proof and address proof of the Proprietor. The two forms of registration can be any two of the following: GST registration, MSME registration, shop & establishment Act registration, Professional license, Chartered Accountant certificate or others as provided in the RBI Know Your Customer norms.

Will my Proprietorship firm have a separate legal identity?

No, the Proprietorship firm and the Proprietor are one and the same. The PAN Card of the Proprietor will be the PAN Card of the Proprietorship business.Therefore, there will be no separate legal identity for the business. The assets and liabilities of the Proprietorship business and the Proprietor will also be one and the same.

Will my Proprietorship firm have a Certificate or Registration?

Proprietorship firms do not have a Certificate of Incorporation or Certificate of Registration. The identity and legitimacy of a Proprietorship firm is established by registration with the relevant Local laws & Tax laws of India.

How to register the name of a Proprietorship?

There is no registry or regulation for the registering the name of a Proprietorship. Therefore, proprietorship firms can adopt any name that do not infringe on registered trademarks. Since there are no registry or regulation for registering the name of a Proprietorship, the only way to ensure exclusive use of the business name is to obtain a trademark registration of the business name.

How can I transfer my Proprietorship?

A business operated by proprietorship firm cannot be transferred to another person, unlike a Limited Liability Partnership or a Private Limited Company. Only the assets in the Proprietorship can be transferred to another person through sale. Intangible assets like Government approvals, registrations, etc., cannot be transferred to another person.

Can other people invest in a Proprietorship?

Proprietorship firms are business entity that are owned, managed and controlled by one person. So Proprietorship firms cannot issue shares or have investors.

What are the annual compliance requirements for a Proprietorship?

Proprietorship will have to file their annual tax return with the Income Tax Department. Other tax filings like GST filings may be necessary from time to time, based on the sales volume, gross receipts & business activity performed. However, annual report or accounts need not be filed with the Ministry or Corporate Affairs, which is required for Limited Liability Partnerships and Companies.

Can I later convert my Proprietorship into a Company or LLP?

Yes, there are procedures for converting your Proprietorship business into a Company or a LLP at a later date. However, the procedures to convert a proprietorship business into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Proprietorship.

Is audit required for a Proprietorship?

It is not necessary for Proprietorships to prepare audited financial statements each year. However, a tax audit may be necessary based on turnover and other criterion.

Why Choose Startupkaro

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We have wide range of expert level service and our experts are very well capable to perform these, here you will find wide variety of services in the areas like Legal, Taxation, Finance, Management, Budgets etc.

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