Register Sole Proprietorship
✓ Sole Proprietorship
✓ Lower Taxes
✓ Single Promoter
Setup Sole Proprietorship
Great option for the individual entrepreneurs to start their business easily & quickly. Services Include:
➦ Udyog Aadhaar
We will help you to get Udyog Aadhaar Number.
➦ PAN & TAN Registration
File the application of PAN & TAN with NSDL.
Note down the Required Documents
✍ PAN Card of the Proprietor
✍ Aadhaar Card/Voter’s ID/Driving License/Passport
✍ Latest Bank Statement/Telephone or Mobile Bill/Electricity Bill or Gas Bill
✍ Notarised Rental Agreement in case of rented property or Sale/Property Deed in case of own property
✍ No-objection certificate from Land Owner in case of rented property
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Know about Sole Proprietorship Firm
A sole proprietorship is a business that is owned and managed by a single person. Easy to set up is the most important ingredient of this form of Business. There is no such thing as registration; proprietorships are recognised by other registrations, such as a GST registration, Udyog Aadhaar Registration. As you would imagine with a business that’s so easy to set up, though, its shortcomings are severe 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.
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FAQs on Sole Proprietorship Firm
1. Who can start a sole proprietorship?
Any Indian citizen with a current account in the name of their business can start a sole proprietorship. Registration may or may not be required, depending on what business you are planning to establish.
2. How long does it take to establish a business with Sole Proprietorship?
A sole proprietorship business does not take more than 15 days to open up and get running. This simplicity makes it popular among the small traders and merchants. It’s also much cheaper, of course. This is the other reason why it’s the most widely used business structure.
3. What businesses are commonly run as sole proprietorship?
Most local businesses are run as 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. Even some jewellery shops are sole proprietors, but this is not recommended.
4. What if I wish to convert from sole proprietorship to private limited company or partnership?
You can always choose to do so. The procedure is a little tedious, but it is possible. It is very common for sole proprietors to convert into partnerships and private limited companies at a later stage.
5. Does its required the commercial property or office for the Registration?
No, you can register on your residential property also, whether it’s a rented or own property. you need just utility bills copy with permission from your landlord or owner of the premise.
6. Can i keep any name of the Firm?
Yes, you can keep any name of the Firm. If it is not related to the any Trademark, Private Limited Company, LLP or OPC etc. you have to keep name without any extension.
7. Can i register the firm on my family member name?
Yes, you can register your firm on your family member name. It requires the same docs which mentioned above.
8. Do I have to be available in person to register Sole Proprietorship Firm?
TaxRodo provides the virtual services, which means there is no compulsion for you to be present at our office physically. A scanned copy of documents can be uploaded or sent via mail, and we will handle the rest.