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PROPRIETORSHIP REGISTRATION

Sole proprietorship is the quickest way to start and carryout the business. A person needs just Permanent Account Number (PAN) to start the process for obtaining other registrations and any number of business can be done under a Single PAN.

One of the main pitfall of sole proprietorship is that even though it gives lot of flexibility for the business, proprietor is fully liable for any loans, loss, debts, damages or any taxes and puts his personal assets at risk in case any payments needs to be made for the business.

Documents Required

Copy of PAN and Aadhar card of Applicant
Address Proof of Applicant (Voter ID, Passport, Aadhar, Driving License)
Cancelled Cheque of Bank Account
Registered Office Address Proof Electricity Bill along with Rent Agreement plus NOC (if Rented)/ Ownership proof (if Owned)
Passport size photographs of Applicant

Package Includes

Consultancy for setup
Digital Signature
GST registration Certificate

Frequently Asked Questions

What are the requirements to be a Proprietor

Is there any capital requirement to register a Proprietorship?

Is my Proprietorship a Saperate Legal Entity

No, the Proprietorship firm and the Proprietor are one and the same. The PAN Card of the Proprietor will be the PAN Card of the Proprietorship business and There will be no separate legal identity for the business. The assets and liabilities of the Proprietorship business and the Proprietor will also be one and the same.

Can i transfer my Proprietorship firm

A business operated by proprietorship firm cannot be transferred to another person, Intangible assets like Government approvals, registrations, etc., cannot be transferred to another person because PAN can not be changed

Can i have Partners in Proprietorship firm

Proprietorship firms are business entity that are owned, managed and controlled by one person. So Partners cannot be inducted into a Proprietorship firm.

Is Audit Required for Proprietorship

It is not necessary for Proprietorships to prepare audited financial statements each year. However, a tax audit may be necessary based on turnover and other criterion.

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