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Your Sole Proprietorship

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What is Sole Proprietorship?


All you need to know

Sole Proprietorship in simple words is a one-man business organisation. It is the type of entity that is fully owned and managed by one natural person (not a legal person/entity) known as the sole proprietor. The business and the man are the same, it does not have a separate legal entity.

 

A sole proprietorship usually does not have to be incorporated or registered. It is the simplest form of business organisations and the ideal choice to run a small or medium scale business. Let us look at some important features of a proprietorship.

 

Promptadvisory.com is a group of highly qualified, experienced and dedicated professionals like Chartered Accountants, Lawyers, Company secretaries and IT professionals who facilitates and make sure to provide the best end to end incorporation services for all types of business organisations. We, at Prompt Advisory also provide all kinds of legal, professional, management and advisory services to our clients in India and abroad. At Prompt Advisory, all the services are very quick, easy and affordable. For more information, you may get in touch with our compliance manager on +91 6352119045 or email info@promptadvisory.com for free consultation.

Registration Fees

Choose Your Package
ESSENTIAL
Rs.1499/-
(All Inclusive)
  • SSI/MSME Registration

ENHANCED
Rs.2999/-
(All Inclusive)
  • SSI/MSME Registration
  • GST Registration

ULTIMATE
Rs.8899/-
(All Inclusive)
  • SSI/MSME Registration
  • GST Registration
  • Trademark (1 application 1 class) (start ups, proprietorship & small business)

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63523 73340
Call Us
info@promptadvisory.com
Email us your query..

Key features of Sole Proprietorship Firm

Points to make your decision easy
Quick Decision Making
A proprietor will have complete control of the entire business, this will facilitate quick decisions and freedom to do business according to their wishes.
Inexpensive
Law does not require a proprietorship to publish its financial accounts or any other such documents to any members of the public. This allows the business a great deal of confidentiality which is sometimes important in the business world.
Tax Benefits
The owner derives maximum incentive from the business. He does not have to share any of his profits. So the work he puts into the business is completely reciprocated in incentives.

Document Required For Your Sole Proprietorship

  • Photograph
  • PAN Card
  • Aadhar Card
  • Electricity Bill or any other utility bill for the address proof

How to start Sole Proprietorship?

5 Easy Steps
 

1

Complete a Checklist

2

Submit documents

3

Verification of Documents

4

Obtain Registration Certificate

5

Obtain PAN and TAN

 
Application
All you need is Aadhar and PAN card to get started. You can choose any name of your choice. However, this should not be an existing name in the Trademark Registry. Based on your documents and discussion with you, our experts will guide you as to what registrations to obtain.
SSI/MSME/Udhyog Aadhar Registration
Udyog Aadhaar is a registration for all micro, small and medium-sized businesses. Udyog Aadhaar registration along with a tax registration may be used for the opening of bank account.
GST Registration
Depending on your nature of business and requirement, Our team will process for GST registration in the name of your sole proprietorship firm. This certificate will help you open a current bank account easily.

FAQs On Sole Proprietorship

Get answers to all your queries
  Who can start a Sole Proprietorship?
Any Indian citizen can start a sole proprietorship firm.
  What are businesses commonly run as Sole Proprietorship?
Most local businesses are run as a Sole Proprietorship, from your grocery store to a fast food vendor, and even small traders and manufacturers. This is not to say that larger businesses do not operate as sole proprietors.
  Is registration online or I have to submit any documents to the government office?
Thanks to Government of India’s digital initiatives, all registrations are completely paperless and online. We provide all services online so that you don’t need to move an inch from your office or home.
About us

We facilitates and make sure to provide the best end to end incorporation services for all types of business. We, at Prompt Advisory also provide all kinds of legal, professional,management and advisory services to our client in India and Abroad, At prompt Advisory all the services are very quick,easy and affordable.

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