Get assistance for establishing a Sole Proprietorship in India with convenient online registration services.
We have a team of professionals who can help you in setting up Start Sole Proprietorship in India. Just provide the documents & we'll do all the formalities so that you could concentrate on your business.
What is Sole Proprietorship?
A sole proprietorship is a business structure where a single individual owns and operates the business. In India, this form of business is not considered a separate legal entity from its owner. As the sole proprietor, you have full control and responsibility for all aspects of the business, including its profits, liabilities, and management decisions.
Benefits of Sole Proprietorship?
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Ease of Formation: Setting up a sole proprietorship is relatively simple and involves minimal formalities. There is no requirement for registration with government authorities, making it a preferred choice for small businesses and startups.
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Unlimited Liability: One significant aspect of sole proprietorship is that the owner bears unlimited personal liability for the debts and obligations of the business. This means personal assets may be at risk to satisfy business debts in the event of business insolvency or legal issues.
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Taxation: Income generated by the sole proprietorship is typically treated as the individual owner's income and is subject to personal income tax rates. However, certain tax benefits and deductions may be available depending on the nature of the business and applicable tax regulations.
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Decision-Making Autonomy: As the sole proprietor, you have complete autonomy and control over business operations, including decision-making processes, without the need to consult with partners or shareholders.
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Flexibility: Sole proprietorships offer flexibility in terms of management, operations, and business strategies. The owner can adapt quickly to changing market conditions and make decisions based on individual preferences and goals.
ABOUT SOLE PROPRIETORSHIP
Easy incorporation
Sole Proprietorship is the easiest form of business entity in the terms of procedure of establishment.
Minimal cost
The cost involved in the formation of a sole proprietary firm is very less as compared to other forms of business.
Lesser compliances
As compared to other business forms, there are fewer legal compliances with respect to incorporation, operation and taxation.
Independent control
As Sole Proprietor is the single owner of his business, he surely has independent control over his operations.
Single Promoter
This is the only form of business entity that can be promoted by a single individual.
No corporate tax liability
As per the direct tax laws of India, the sole proprietary entities are not liable to pay flat corporate profit tax.
PROCESS OF FORMATION
Upload the required documents & information to our web portal
Choose Package and Pay online with different payments modes available
On placing the order, your application will be assigned to one of our dedicated professionals.
One of our professional will prepare the required form for the formation of the entity.
Obtain government registration certificate for your business entity.
Registration certificate shall be provided to you over the mail.
DOCUMENTS REQUIRED
Identity Proof
Nature of Business
Address of Business
Passport size Photograph
PACKAGES
Standard
₹ 3999
Plus taxes
Shop Establishment Registration
MSME Registration
eGuide on MSME
Current Bank Account*
Basic Business Website
Premium
₹ 4999
Plus taxes
Shop Establishment Registration
MSME Registration
eGuide on MSME
GST Registration
Current Bank Account*
Basic Business Website
Basic
₹ 3499
Plus taxes
Shop Establishment Registration
Current Bank Account*
Basic Business Website
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