Proprietorship


Proprietorship firm is such a type of business entity that is owned, controlled and managed by a single person. The owner of the Business is called Sole Proprietor of the Firm. There is no mechanism provided by the Government of India for Registration of a Proprietorship Concern. The Sole Proprietorship firm enjoys some benefits like no registration or agreement is required to start and easy to close. On the other hand sole proprietorship does not provide some other benefits such as independent existence, transferability, separate legal entity, limited liability etc.

  • Basic
     1099 /-
  • MSME Registration
  • --
  • --
  • --
  • --
  • --
  • Standard
     3999 /-
  • MSME Registration
  • GST registration
  • --
  • --
  • --
  • --
  • Premium
     7999 /-
  • MSME Registration
  • GST registration
  • GST Return Filing for 3 Months
  • --
  • --
  • --

Process

Buzz Session

In Buzz session you will discuss with our team on Proprietorship concerns and they will help you with your queries.

Applying PAN

We will apply for the Permanent Account Number of Proprietor. There is no separate PAN of Proprietorship. It's same as PAN of Proprietor.

Udyog Adhar

Udyog adhar is registration for Micro,Small and Medium Enterprise and this certificate helps you to open Bank Account of Proprietorship.

GST Registration

Depending on the type of business and nature of activity we will consult whether you need GST Registration for your Proprietorship.


FAQ'S

+
proprietorship Concern can have only one promotor. So only one person is required to start a proprietory concern.
+
Reserve Bank of India mandates that the proprietor should provide proof of existence of a Proprietorship Concern alongwith PAN Card, identity proof and address proof of the Proprietor. The proof of existence of Proprietorship Concern can be any of these : Service Tax Registration, MSME Registration, VAT-TIN Registration, Shop & Establishment Certificate Chartered Accountant's certificate or any other documents as provided in Reserve Bank of India's KYC norms.
+
No, proprietorship concern is a type of business which is owned by a single individual, it is controlled and managed by the proprietor only. You cannot add partners to a Proprietorship concern.
+
There are not many compliances of a Proprietorship Concern. The proprietor has to lodge his income tax return with the Income Tax authority every year. Other compliances such as Service Tax return filing or VAT return filing etc may be necessary depending upon the nature and size of business.
+
Yes, there is a procedure prescribed to convert a Proprietorship Concern to a Private Limited Company or a Limited Liability Partnership.
+
Audit is not compulsory for every Proprietorship concern. Audit is necessary only for those Proprietorship concerns which fall under the audit criterion under different laws.