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Get online registration of proprietorship concern, without any visit to CAs office. Just Connect with EAdvisors Expert

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Our expert will coordinate and you need not to visit consultant office for your filing and registration.

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Proprietorship Concern

A business that legally has no separate existence from its owner. Income and losses are taxed on the individual’s personal income tax return. The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity.

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.

Why should choose proprietorship concern (Benefits)?

Decision Maker

As a single person is at the helm of affairs, it is easier to operate as the particular person will be the sole decision maker and he need not consider a plethora of opinions. 

Compliance

Since sole proprietorship are an unregistered form of entity, there is less compliance and filing with different acts as compared to other forms.

No Profit Sharing

No other business, other than that of a sole proprietorship and one person company, entitles the owner as the sole beneficiary of profits.

Tax Benefit

While there are many tax benefits to sole proprietorship, a main drawback is that the owner must pay self-employment taxes. 

Documents Required for Proprietorship Concern

Sole Proprietor Identity Proof (Any one of the following)

  • Pan card in the name of the Proprietor (Mandatory)
  • Passport
  • Voter Identity Card
  • Driving License
  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Senior Citizen Card issued by State/Central Govt
  • Fisherman Identity card issued by State/Central Government
  • Arms License

Sole Proprietor Address Proof (Any one of the following)

  • Passport
  • Voter Identity Card
  • Driving License
  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Senior Citizen Card issued by State/Central Govt
  • Fisherman Identity card issued by State/Central Government
  • Arms License
  • Utility bills (Electricity bill,Telephone bill) not older than 3 months
  • Water tax bill along with receipt not older than 6 months
  • Property Tax bill less than one year old along with Tax payment receipts
  • Latest Three months Bank Statement from scheduled commercial bank with account opening cheque/Bank passbook/Original letter from existing banker with account opening cheque
  • Consumer gas connection card/Passbook along with the receipt of gas supply not older than 3 months
  • Registered Lease & Licence Agreement along with utility bill not older than 3 months in the name of the landlord

Procedure


Buy EAdvisors Proprietorship Concern  Registration plan


Session with EAdvisors Expert on registration of Proprietorship Concern  for detail discussion on nature of business entity, activity and other requirements.


Submit all the documents required for Proprietorship Concern  Registration, Preparation and submission of application for Proprietorship Concern  Registration with department.


Issuance of Proprietorship Concern  Registration certificate by email.

Pricing

We work round-the-clock to ensure the taxpayer’s problem is resolved. Check out the price table below
and choose a plan the most suitable for you.

Basic
199900
Proprietorship Concern Registration with TAN Registration

 

Online Support

Gold
499900
Proprietorship Concern Registration with TAN Registration,

3 month GST Return filing

Online Support

Platinum
999900
Proprietorship registration with TAN Registration & GST Registration,

1 year GST Return filing or Trademark filing

Online Support

Proprietorship Updates

GST Application

In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states).

GST Return

Return is a document containing detail of income which a taxpayer is required to file with the tax administrative authorities.

Cancellation of GST

If you have a my IR account, you can cancel your GST Registration online.

GST Invoice

An invoice or a bill is a list of goods sent or services provided, along with the amount due for payment.

E-Way Bill

E-Way Bill is an electronic waybill for movement of goods to be generated on the E-Way Bill Portal.

GST Registration

In the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states).

From the Blog

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What Clients Say

I am very satisfied with your service for GST registration. I have good experience with you.

Accounting was always challenge for us before we met EAdvisors. Now compliance and accounting is smooth for us.

I got my ESI and EPF registration in just 3 days, coordination with customer care is impressive.

FAQ’s

What is a Proprietorship Deed?

No written deed is necessary for the Sole Proprietorship Business as the DEED is required only in cases like Partnership firms & in this case there is only one person involved in whose sole ownership the business will be operated, hence no written deed will be required as the purpose of written deed of partnership firm.

How do I register a Proprietorship Firm?

Registration For Sole Proprietorship Business in India. You don’t need to register your sole proprietorship in India. But in order to receive payments in the name of the business, you need to open a current account in a bank. For this, you will need proof of existence of the firm, and the address proof.

What is Proprietorship Firm India?

Majority of the businesses in India are unregistered with many being operated as a sole proprietorship firm business. A sole proprietorship is one of the easiest and simplest form of business entity to register and maintain in India.

How do I start a sole proprietorship?
It is important to consider doing the following once you have established your sole proprietorship:
  1. Open a business bank account. Using your fictitious business name and EIN, you should set up a bank account to keep your business and personal finances separate.
  2. Obtain general liability insurance. …
  3. Report and pay taxes.
What is the difference between one person company and sole proprietorship?

Difference between One Person Company and a sole proprietorship. One Person Company (OPC) a separate legal entity with just one member. Unlike a private limited company which requires minimum 2 shareholders and 2 directors, an OPC can be formed with only one shareholder.

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