The Sole Proprietorship is a type of Business that is owned, managed by a single person. The person responsible controls all activities. It can be set up by anyone who needs to start a business without being subject to some legal protocol. But, the sole proprietor must be a citizen of India.
Sole Proprietorship ( Basic )
Sole Proprietorship ( Standard )
MSME and GST Registration
Sole Proprietorship ( Premium )
MSME, GST Registration and Trademark Application
Benefits Of Sole Ownership
The proprietor has full control and claims possession
No base capital investment is obliged
Profits belong only to their owners
Tax supervision prevents double tax collection
The proprietor is only liable for annual expense figures
There is no different tax for organizations
Proof of residence (lease agreement or title deed)
Registration of MSME
Registering MSMEs (Small and Medium Enterprises) is not mandatory, but it increases the company’s chances of getting credit and helping with other legal issues.
License to Shop and establishment Act
A shop and Establishment Act license is not required for all individual ownership, but most companies must obtain this license by local laws in the area of business.
Goods and Services Tax (GST) Registration
To set up and start a trading business in India with estimated sales of more than Rs 40 lakh and Rs 20 lakh, GST registration must be completed.
Proof of office address
Proof of a registered office address is required for some procedures essential to business operations.