What is a Sole Proprietorship?
A sole proprietorship is the simplest and most common business structure where an individual operates a business in their personal capacity. The owner has complete control but also bears unlimited liability for all business debts and obligations.
Our comprehensive proprietorship services include:
- Business name registration (optional)
- GST registration (if applicable)
- MSME/Udyam registration
- Trade license or shop establishment registration
- Current account opening assistance
- Tax and compliance advisory
Advantages of Sole Proprietorship
Quick Setup
Can be established within 1-2 days with minimal formalities.
Low Cost
Most economical business structure with minimal registration costs.
Single Ownership
Complete control over business decisions and profits.
Simple Compliance
Minimal regulatory filings compared to companies.
Documents Required for Registration
Identity Proof
PAN Card + Aadhaar Card/Passport/Voter ID
Address Proof
Electricity bill/Rent agreement/Property tax receipt
Photographs
2 passport size photos
Business Details
Nature of business, expected turnover
Business Address
Proof of business premises (if different from home)
Bank Account
Cancelled cheque (for current account opening)
Our Proprietorship Registration Process
1. Business Consultation
Understanding your business activities and requirements.
2. Document Collection
Guidance on preparing all necessary documents.
3. Name Registration
Registering your business name (optional but recommended).
4. License Applications
Filing for GST, MSME, trade license as applicable.
5. Bank Account Setup
Assistance with current account opening.
6. Compliance Kit Delivery
Providing all registration certificates and guidance.
Ongoing Compliance Requirements
| Compliance | Frequency | Applicability |
|---|---|---|
| Income Tax Return | Annual | Mandatory if income exceeds basic exemption limit |
| GST Returns | Monthly/Quarterly | If registered under GST |
| MSME Renewal | Every 5 years | Optional but beneficial |
| Trade License Renewal | Annual | If local license obtained |
Our Compliance Management Services
- Annual GST return filing assistance
- Tax planning and advisory services
- License renewal reminders and support
- Bookkeeping and accounting support
Transparent Pricing Packages
Basic Package
₹999
- Business Name Registration
- MSME/Udyam Registration
- Current Account Guidance
- Excludes GST Registration
Premium Package
₹2,999
- Includes Basic Package
- GST Registration
- Trade License Support
- 3 Months Compliance Support
Frequently Asked Questions
No, but certain registrations like GST (if turnover exceeds ₹40L), MSME, and trade license may be required based on your business activities.
Yes, many businesses start as proprietorships and convert to formal structures when they grow.
While not legally mandatory, it's highly recommended to maintain separate business finances.
All proprietors are self-employed, but not all self-employed individuals necessarily operate as proprietorships (some may be freelancers without formal registration).
Ready to start your proprietorship business?