Sole Proprietorship Registration

Register a Sole Proprietorship

A sole proprietorship company is owned and run by just one person. This form of business is one of the most popular ones to start in the unsystematic sector, especially among merchants and small dealers, because it can be established in just fifteen days. A sole proprietorship firm does not need to register because it is recognized by other registrations, such as GST and much more. However, it does not have perpetual existence and its obligation is unbounded.

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Odoo
Razorpay
Tally
Petpooja
Amazon Web service
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Shopify
Zoho
Odoo
Razorpay
Tally
Petpooja
Amazon Web service
Flyingcolour
Shopify

Overview

An Overview of Sole Proprietorship

Reduced Compliance

Even though a sole proprietorship is registered under an Act, no separate tax returns for the business need to be filed. The sole proprietor is only required to file his tax return and includes information about the profit or loss of his business. The entities must submit a separate return for the business in other circumstances, such as partnerships and corporations. However, the sole proprietor must file the returns for GST compliances if they have registered for GST. Apart from this no separate return filing is necessary for income tax reasons

Simple to begin

To begin a sole proprietorship, no necessary registration is needed. A sole proprietorship business can be started by an individual under any name in just 15 days through DreamFirm

Saves money

Starting a firm as a sole proprietorship is practically free. The only possible cost is the licensing fee for the company if one is necessary. Even that money is avoided because the compliance requirements are minimal

Company Name

If a sole proprietorship does not violate any trademarks, it may be founded under any name. The sole proprietor can initially launch the business under a distinctive name, and once it built up a strong reputation, one can apply to have his name registered as a trademark.

Complete Authority

Because there is only one owner in a sole proprietorship, that individual always has authority over the company. For all other commercial entities, such as partnerships and private companies, the minimum number of founders is two.

Easy to Close

In a sole proprietorship business, the business and the owner are considered to be one and not a separate entity, hence there is no special winding up procedure as there is in the case of other companies. The only prerequisite for closing down a firm is to cancel any applicable tax registrations, such as a GST registration.

Why DreamFirm

Why Choose DreamFirm For Sole Proprietorship Registration in India?

1000+

Sole Proprietorship Registered

100%

Timely Completion Of the Registration

Documents needed

Sole proprietorship registration online in India is now a super fast process. Thanks to DreamFirm!

✔️PAN cards

✔️KYC paperwork

✔️A rental agreement or selling deed

✔️Evidence of address and identification

✔️Proof of your company’s existence

✔️Registering under the Shops & Establishments Act

✔️Address and ID verification

Benefits Of Sole Proprietorship

Here’s the whole process

Registering a Proprietorship Online through DreamFirm

01

Step 1: Applying for a PAN card

Applying for a PAN card is the first step in forming a single proprietorship business. Experts absolved can help you with the paperwork. and apply for a pan card on your behalf.

02

Step 2: Choose an appropriate name for your company

The next step is to maintain a name for the sole proprietorship business after getting a PAN card, or if the proprietor already has one.

03

Step 3: Choose the perfect service

Experts involved will help you to pick a proper Government registration unit to complete the process.

04

Step 4: Connect with the vendor

Subsequently, our team will connect you with an established vendor to book your application and update the status

05

Step 5: Receive the receipt for registration

Throughout the procedure, our team will keep you updated in most cases the procedure will be completed within 15 business days.

FAQ’s

Proprietorship FAQ's

A proprietorship firm is a type of business structure where a single individual owns and manages the entire business. The proprietor is personally liable for all the debts and obligations of the firm. Proprietorship firms are easy to set up and operate, making them a popular choice for small businesses and startups in India.

There are mainly four types of proprietorship in India:

Sole Proprietorship
One Person Company (OPC)
Registered Proprietorship
Unregistered Proprietorship

Each type of proprietorship has its advantages and disadvantages, and the choice of business structure depends on the proprietor’s needs, goals, and resources.

Proprietorship and firm are often used interchangeably, but there is a subtle difference between the two. Proprietorship refers to a type of business structure where a single individual owns and manages the entire business, while a firm refers to a group of individuals who come together to carry out a business activity. In a firm, the ownership is shared among the partners, and the profits and losses are also shared among them. In contrast, in proprietorship, the proprietor has complete control over the business, and all the profits and losses belong to the proprietor alone.

No, there is no certificate of Incorporation given

As the sole proprietorship and the proprietor are the same the individual has to just file the Income-tax returns and GST returns filing for the proprietorship firm.

No, there is no minimum requirement to start a sole proprietorship in India.

The sole proprietorships exist as long as the proprietor is alive and is desiring to run the business.

It generally differs from state to state as in Maharashtra a Shop and Act license is required and for West Bengal, the trade license is required.

Register a Sole Proprietorship

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