Proprietorship Firm Registration
4 Working Days
Proprietorship Firm Registration
Proprietorship Firm Registration is the most common form of the business. A Proprietorship Firm is a One Person Firm which is owned, managed and controlled by one person who has the full responsibility and authority with respect to the business. Sole Proprietorship Firm Registration is an unregistered firm which means this firm is not registered on MCA. Online Sole Proprietorship Firm Registration main aim is to Open a Current Bank Account on the Name of Firm (business). Basically, it is a simply firm which is easy to operate as well as very cost effective. To Open a Sole Proprietorship Firm in India requires minimum 2 Legal Entity Proof for open a Current Bank Account on the name of Business..
Documents Required for Proprietorship Firm Registration
Aadhaar Card (Proprietor / Partner / Director)
PAN Card (Proprietor / Partnership Firm / Company)
Electricity Bill / GAS Bill / Telephone Bill / Sell Deed
Rent Agreement (If Office is Rented)
Bank Statement / Cancelled Cheque
Detail Required For Proprietorship Firm Registration
Firm address with pin code
Top 5 products / Top 5 services name
Number of employ
Investment of Machinery
Procedure for Proprietorship Firm Registration
- After receiving the documents from you, we will do the following procedure.
- Preparation of Documents
- Apply proprietorship registration on government portal on the behalf of you.
- Waiting for approval
- After registering your Proprietorship Firm we will send you Proprietorship Firm Certificate
How can we help with Sole proprietorship Firm Registration Online
Udyogaadhaargov.in can help you to register a Proprietorship firm Online in 3 to 4 days.
If you have any questions or queries regarding Proprietorship Firm. Request a call from an Udyogaadhaargov.in an advisor or email us.
Proprietorships business does not have a particular process for the register. Hence, our Business consultant can advise you on the way the best way for incorporation the identity of the Proprietorship Firm and opening a bank account on the name of business.
The Proprietorship Business can be registered through Tax Registrations like TAN or VAT registration or Service Tax registration of GST registration in the name of the proprietor. Hence, established on the type of business, the relevant tax registration is acquired for the business.
Udyog Aadhaar Registration is for all micro, small and medium-sized businesses enterprises. Udyog Aadhaar Registration or MSME Registration along with a tax registration can be used for the opening of the current bank account in the name of the firm. Hence, Udyog Aadhaar registration is required for the business.
Advantages of Online Sole Proprietorship Firm Registration
Ease of formation
Starting a Sole Proprietorship Firm is very less complicated and cheaper than starting another form of business entity. Some states permit sole proprietorships to be registered without the double taxation standards applicable to most corporations. The proprietorship firm can be named after the owner, or a fictitious name can be used to enhance the business’ marketing.
Easy to Start
Proprietorship Firm Requires only a few registrations. Hence, it is one of the simplest forms of the business entity to start. A Sole Proprietorship Registration could take maximum 15days to start if all they need is a Service Tax Registration, but this would stretch to even 45 days if you need Sales Tax Registration.
As we know the name of a proprietorship is not registered in an MCA portal, so a proprietorship can choose to have any name – till such time as it does not contravene on a registered trademark. Conversely, since the name of Business is not registered, so other people can also use the same business name unless the Trademark Registration is obtained.
A proprietorship business with less than Rs. 5 lakh of income is not needed to pay any income tax, as the proprietorship’s are taxed at the individual owing the business. Whether in a like company or LLP, a proprietorship cannot have some of the tax deductions, which may possibly increase the tax liability.
A Proprietorship Firm is the only type of business form which can be registered and be operated by only one person. All one required to register a one person company, is a nominee and Director, while for all other types of business entities like a company or LLP or a partnership firm, two or more promoters are mandatory.
Easy to close
In a Proprietorship Firm Registration only one person owned and managed the whole business for all the legal requirement and purpose because in a Proprietorship Firm the proprietor and the proprietorship are one and the same person. Hence, there is no formality required for closing or in winding up a Proprietorship Firm. To close a proprietorship, there is only a requirement for the cancellation of the tax registrations which is obtained in the name of the proprietor.