You can easily complete proprietorship firm registration online through Compliance Gurukul. For a sole proprietorship registration, only the PAN & Aadhaar card of the business owner is required. We can help you obtain the following registrations in less than 15 days:
Once, you have registered for the proprietorship firm registration online on Compliance Gurukul, please follow the steps below and upload the following documents by logging into Compliance Gurukul Software.
Sole proprietorship is one of the oldest and easiest Business Structure to start in India. A proprietorship is a type of business that is owned, managed, and controlled by one person - who is the proprietor. As the proprietorship and proprietor are one and the same, it is very easy to start and there are very minimal compliance requirements.
As the proprietor and the business are one and the same, a proprietorship cannot have other partners or shareholders. Further, there is no limited liability protection for the proprietor from the business activities conducted in the sole proprietorship. Hence, this type of business entity is best suited for every small businesses with no more than 5 employees.
Compliance Gurukul can assist you to register proprietorship firm online, a simple and efficient business structure that is ideal for solo entrepreneurs. With our expert guidance and streamlined process, you can start your proprietorship firm registration online quickly and hassle-free. Start your Sole Proprietorship registration online with us and unlock the potential of your business ideas.
Sole Proprietorship registration in India follows a unique approach, as there isn't a dedicated government-established registration process for this business structure. Instead, a proprietorship firm registration online gains recognition through tax registrations mandated by relevant laws and regulations. One pivotal tax registration is the GST (Goods and Services Tax) Registration, which must be secured under the proprietor's name to formalize the business's proprietorship status. This sole proprietorship registration online signifies that the proprietor is conducting business within the framework of a proprietorship. Compliance Gurukul helps you to register proprietorship firm online easily and effortlessly.
Below are the main advantages of sole proprietorship registration in India:
Sole proprietorship registration does not have any formal incorporation or dissolution process - as its the same as the Proprietor. However, to operate a business, the proprietor may have to obtain certain registrations and licenses to be compliant with the laws and regulations of India.
When compared to other business entities, establishing a sole proprietorship is much easier. It requires very little paperwork from the government end and can be set up easily. Post-registration compliance is also much simpler when compared to other business entities.
As there are no partners, shareholders, or directors, the proprietor can easily operate this business with minimal documents and consent requirements. Hence, this type of business structure is best suited for very small businesses.
In a proprietorship, the business owner takes all business decisions. There is no consent or approval required from any other person. Hence, a proprietor can normally take quick decisions regarding his business affairs.
The income generated by the firm directly passes through a single layer of income tax. In some cases, it is also eligible for up to a 20% tax deduction. These deductions can help the owners save a lot of money.
In a sole proprietorship, the individual has better opportunities to directly interact with their clients.As sole proprietorship is owned only by the proprietor. He/she has complete control over the assets, revenue, expenses and all business operations.