Sole Proprietorship Registration
Register Sole Proprietorship with INR 1499/- only and provide maximum privacy to own business.
Step 1
Complete the checklist and submit the documents
What is Sole Proprietorship?
Sole Proprietorship is a firm, which is owned by a single person. Sole Proprietorship can be incorporated in 15 days and hence makes it one of the most popular types of business to begin in the unsystematic sector, specifically among merchants and small traders. The government of India has not prescribed any sole proprietorship firm rules and regulations in India or there is no registration mechanism for Sole Proprietorship Firm registration Thus, the registration of a proprietorship can only be recognized through tax registrations that the business is required to have as per the rules and regulations. These tax registrations may include GST Registration and/or SSI/MSME Registration that should be obtained in the name of the Proprietor to establish that the Proprietor is operating a business as a sole proprietorship.
Benefits of a Sole Proprietorship:
• Minimum Compliance
• Simple to begin
• Economical
Checklist Items for a Sole Proprietorship Registration
• A certificate/license issued by Municipal authorities under the Shop & Establishment Act.
• The license issued by Registering authorities like the Certificate of Practice is issued by the Institute of Chartered Accountants of India.
• The registration/licensing document is issued in the name of the proprietary concern by the Central Government or the State Government Authority/ Department, etc,
• The banks may also accept the IEC (Importer Exporter Code) issued to the proprietary concern by the office of the DGFT as an identity document for opening of the bank account etc,
• Complete Income Tax return (not just the acknowledgment) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated and acknowledged by the Income Tax Authorities,
• The utility bills such as electricity, water, and the landline telephone bills in the name of the proprietary concern,
• Issue of GST Registration/Certificate.
Senixa Legal helps you to handle all the paperwork and ensure a seamless interactive process with the government. We provide clarity on the incorporation process to set realistic expectations. We provide the access to reliable professionals. To know the progress of work you can write us a mail at info@senixalegal.com or call us on +91-9999347181.
Choose Your Package
Premium
₹ 8899/-
Transparent Pricing
Easy EMI's
SSI/MSME Registration
GST Registration
Trademark (1 application 1 class) (start ups, proprietorship & small business)
Steps to register Sole Proprietorship?
Fill Simple Checklist
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
Name Approval
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently the approval of name for your Private Limited Company. You may suggest up to three names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your Private Limited Company in Part A of SPICe Plus form.
Registration
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
FAQs On Sole Proprietorship
Who can start a Sole Proprietorship?
Any Indian citizen can start a sole proprietorship firm.
What are businesses commonly run as Sole Proprietorship?
Most local businesses are run as a Sole Proprietorship, from your grocery store to a fast-food vendor, and even small traders and manufacturers. This is not to say that larger businesses do not operate as sole proprietors.
Is registration online or I have to submit any documents to the government office?
Thanks to the Government of India’s digital initiatives, all registrations are completely paperless and online. We provide all services online so that you don’t need to move an inch from your office or home.
What documents are needed for opening a current account in the name of my Sole Proprietorship?
To open a current account, you need proof of the existence of your business. Many banks will ask for MSME registration and/or GST Registration. In addition, you will need a PAN card and address and identity proofs.
What if I wish to convert from Sole Proprietorship to a Private Limited Company or Limited Liability Partnership?
You can always choose to do so. The procedure is very simple. It is very common for sole proprietors to convert into partnerships and private limited companies at a later stage.
What compliance do I need to do once I register my firm as Sole Proprietorship?
1. As a sole proprietor, you must file Income Tax Return annually.
2. Also, you need to file your GST Return if you are registered under GST.
3. A sole proprietor should also deduct TDS and file a TDS return if liable for Tax Audit.
Still, have confusion?
Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@esenixalegal.com or call us @+91 9999347181.
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