Easily Register a Proprietorship
Proprietorship is an alias for the Proprietor to do business. Proprietorships are ideal for very small businesses in the unorganised sector. RandL offers proprietorship registration from Rs.3500/-
A sole proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person. Sole proprietorship’s are one of the most common forms of business in India, used by most micro and small businesses operating in the unorganised sectors. Proprietorships are very easy to start and have very minimal regulatory compliance requirement for started and operating. However, after the startup phase, proprietorship’s do not offer the promoter a host of benefits such as limited liability proprietorship, corporate status, separate legal entity, independent existence, transferability, perpetual existence – which are desirable features for any business. Therefore, proprietorship registration is suited only for unorganised, small businesses that will remain small and/or have a limited period of existence.
There is no mechanism provided by the Government of India for the registration of a Proprietorship. Therefore, the existence of a proprietorship must be established through tax registrations and other business registrations that a business is required to have as per the rules and regulations. For instance, VAT or Service Tax or GST Registration can be obtained in the name of the Proprietor to establish that the Proprietor is operating a business as a sole proprietorship.
SIMPLE & TRANSPARENT PRICING
- Business Bank Account Opening
- MSME registration
LEDGERS GST Software
3 Months Outsourced GST Filing
LEDGERS GST Software
6 Months Outsourced GST Filing
Benefits of a Sole Proprietorship
Sole Proprietorships have minimum compliance requirements as they are identified by government and tax registrations. Therefore, their agreements are confined to yearly filings of service, sales, or professional taxes.
Simple To Begin
A Sole Proprietorship is simple to begin. One needs to simply have a GST Registration in place. This business can be set up in 15 days with the help of a PAN card.
When compared to an OPC or One Person Company, a Sole Proprietorship is economical due to its minimum compliance requirements, including no need to hire an auditor. One of the main reasons why small merchants and traders choose this type of companies.