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Proprietorship Registration Service

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Overview of Proprietorship Registration

  • Proprietorship registration is a Single person firm registration. It is also called as sole proprietorship firm registration.
  • Most of the people can choose proprietorship firm in India because it is the easiest way to start the business as compare as other company registration.
  • A Proprietorship firm can have any name but it does not have already registered trademark name.
  • A Proprietorship Registration has less than Rs. 2.5 lakhs of income per annum is not required to pay any income tax.
  • Sole Proprietorship firm registration & Private limited company registration was mainly register to open a bank account in the name of their company name.
  • In a proprietorship firm, the owner of the person was called Proprietor. The proprietor manages the entire company and also he/she is the responsible of each and every transaction made in his/her company.
  • Proprietorship firm is not separate legal entity as compared as other company registration.

Sole Proprietorship Firm registration service can be done in 5 ways in India

proprietorship firm, Shop and Establishment Act License, Shop and Establishment

Register under Shop and Establishment Act License

proprietorship firm, trade license, trade license registration

Register under Trade License

Documents required for Proprietorship Firm registration

2991108

Proprietor Aadhaar card

2991108

Proprietor Pan card

2991108

Proprietor Passport size photo

2991108

Latest company located rental or lease agreement and eb bill (For rental place), or Eb bill and property tax receipt (For own place)

2991108

Proprietor's saving account passbook front page or cancelled cheque or bank statement

Sole Proprietorship Firm Registration Process

proprietorship firm

Get the proper details and documents for particular registration

proprietorship firm
proprietorship firm

Verify all the details and documents and filing to the Govt side

proprietorship firm
proprietorship firm

Get the certificate and send to Whatsapp and mail

Advantages of Proprietorship Firm

company formation 1

Formation

Proprietorship firm can handle only single person who operates and manages the whole business, so 100% of the profits belong to the proprietor.

time period

Time Period

It will take very less time to register as compared to other company registration.

accounting

Income Tax

The income tax rate for sole proprietorship firm is the same as that of the income tax rate of individuals.

indian cost

Low Cost Registration

As comparison to other business form, cost of registering proprietorship firm is very low.

decision making

Decision Making

The proprietor does not have to consult anyone for taking his decision. So this helps him to make quick decisions.

certificate

Life Time Certificate

It is the life time certificate when you register under MSME/Udyam or GST. You can’t renew that certificate.

Different types of Company Business Structures

Proprietorship Firm
Number of Members/Shareholders
Only 1
Number of Directors/Partners
-
Act
No specified Act
Registration
MSME/Udyam, GST, FSSAI, Shop and Establishment Act License, Trade License
Liability Protection
No
Capital Amount
Not specific amount
Foreigners
Not Allowed
Ownership Transferability
Not Allowed
Incometax Filing Forms
ITR-3 or ITR-4
Compliance
Less
Partnership Firm
Number of Members/Shareholders
2-50
Number of Directors/Partners
2-50
Act
Indian Partnership Act, 1932
Registration
Get the Notarized sign or registered in Sub-Registered office
Liability Protection
No
Capital Amount
Not specific amount
Foreigners
Not Allowed
Ownership Transferability
Allowed
Incometax Filing Forms
ITR-5
Compliance
Less
Limited Liability Partnership (LLP)
Number of Members/Shareholders
2-Unlimited
Number of Directors/Partners
2-Unlimited
Act
Limited Liability Partnership Act, 2008
Registration
Register under MCA
Liability Protection
Yes
Capital Amount
Minimum 1 lakh
Foreigners
Allowed
Ownership Transferability
Allowed
Incometax Filing Forms
ITR-5
Compliance
Moderate
One Person Company (OPC)
Number of Members/Shareholders
Only 1
Number of Directors/Partners
Only 1
Act
Companies Act, 2013
Registration
Register under MCA
Liability Protection
Yes
Capital Amount
Minimum 1 lakh
Foreigners
Not Allowed
Ownership Transferability
Allowed
Incometax Filing Forms
ITR-6
Compliance
Moderate
Private Limited Company
Number of Members/Shareholders
2-200
Number of Directors/Partners
2-15
Act
Companies Act, 2013
Registration
Register under MCA
Liability Protection
Yes
Capital Amount
Minimum 1 lakh
Foreigners
Allowed
Ownership Transferability
Allowed
Incometax Filing Forms
ITR-6
Compliance
High
Public Limited Company
Number of Members/Shareholders
7-unlimited
Number of Directors/Partners
3-15
Act
Companies Act, 2013
Registration
Register under MCA
Liability Protection
Yes
Capital Amount
Minimum 5 lakh
Foreigners
Allowed
Ownership Transferability
Allowed
Incometax Filing Forms
ITR-6
Compliance
High

Frequently Asked Questions

01. Who can start a proprietorship firm?

Any Indian citizen who have valid proof of document can start a proprietorship firm.

02. What is the minimum and maximum amount to start a sole proprietorship firm?

There is no minimum and maximum capital amount for starting a Proprietorship firm. In proprietorship firm registratin, we can start a business without investment amount.

03. Is that proprietorship Firm having Certificate of Incorporation?

No, proprietorship firm do not have a Certificate of Incorporation.

04. Can other people invest in a Proprietorship firm?

Proprietorship firms are business entity that are owned and managed by single person. So Proprietorship firm cannot issue shares or have investors.

05.How to register proprietorship firm?

In india we can register proprietorship firm for following ways.

1) Register under MSME/Udyam
2) Register under GST
3) Register under FSSAI
4) Register under Shop and Establishment Act License
5) Register under Trade License

 

 

06.Is that we can take separate pan card for proprietorship firm?

We can’t take seperate pan card for proprietorship firm, proprietor pan card was enough for it.

Proprietorship Firm registration fees

*Amount should be vary on depends upon your business activity and annual turnover.

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