PRORIETORSHIP

A proprietorship firm is a type of business structure where a single individual owns and manages the entire business. The proprietor is personally liable for all the debts and obligations of the firm. Operating as a sole proprietor provides flexibility in branding, allowing business owners to use a trade name or business name different from their legal name.

Benefits Of Proprietorship:

  • Simplicity and Ease of Formation
  • Minimal Compliance
  • Complete control
  • Easy Management
  • Privacy
  • Minimal startup costs
  • Ease of Closure
  • Healthy relationship with client

The documents required for Proprietorship:

  • PAN card and Adhar Card of the sole proprietor
  • Electricity bill/ Sale deed if owned premises
  • Rent agreement and NOC, if rented premises
  • Bank account details

POST REGISTRATION COMPLIANCES:

  • TAX Audit
  • GST return filing
  • TDS Returns
  • Comply with Labor Laws

REGISTRATION REQUIRED FOR SOLE PROPRIETOR

  • GST Registration
  • Import export code Registration
  • FSSAI Registration
  • BRN Registration
  • Udhyam registration