No registration is required to start a sole proprietorship (so yes, “sole proprietorship registration” is a wrong thing to say) and is therefore an inexpensive manner of commencing business. A sole proprietorship is a business that is owned, run and controlled by one person only. It is one of the most common forms of business in India, mostly used by small businesses operating in the unorganized sectors and local markets.
Proprietorships are very easy to start and have very minimal regulatory compliance requirement for getting started. However, after the start-up phase, proprietorship's do not offer the promoter a host of other benefits such as limited liability, separate legal entity, independent existence, transferability, etc., which are desirable features for any business. Therefore, proprietorship's are suited for unorganized, small businesses that will have a limited existence. There is no mechanism provided by the Government of India for the registration or incorporation of a Proprietorship. Therefore, the existence of a proprietorship is established only by tax registrations like service tax Registration or VAT/CST registration and other business registrations like Shops & Establishment License, Employee Provident Fund Registration, Importer Exporter Code and Professional Tax that a Proprietorship is required to have as per the rules and regulations. At taxadvizer.com, we can help you establish an identity for your Proprietorship by obtaining the relevant registrations. Get in touch with our team at TaxAdviszer for any kind of legal help online by filling up the form on above of the page.
|Proprietorship Start-up||Start-up Consultation||Service Tax / VAT Registration||MSME Registration|
|TaxAdvizer will help you to start-up a Proprietorship in 7 working days. (Subject to Government processing time.)||Proprietorships do not required any registration. Therefore, our team will guide you on the way the identity of the Proprietorship business can be established through other Government registrations.||The identity of a Proprietorship can be established through Service Tax / VAT Registration (whichever applicable) mentioning the business name.||The identity of a Proprietorship can be established by MSME Registration (if applicable) mentioning the business name.|