A Sole proprietorship is a business which is owned, managed and controlled by a single person. It is one of the most common form of business in India, utilized by small businesses operating in the unorganized sectors.
Proprietorship is recognized by other registrations, such as a service or sales tax registration. It has too many shortcomings, such as unlimited liability of proprietor, and it does not have continuous existence. For these reasons it is considered by small merchants and traders as a business structure. Sole Proprietorship Registration is done through DTC Consultants.
Documents Required for Proprietorship Registration
PAN Card copy of proprietor
Electricity/ Water bill (Business Place)
Copy of Aadhaar Card/Voter identity card
Compare Your Options
|Private Limited||Limited Liability Partnership||One Person Company||Partnership Firm||Sole Proprietorship|
|Recommended For||Start-ups and growing||Professional services firms||Sole promoters||Home businesses||Small traders|
|Ease of Accommodating||Very easy to accommodate||Possible, but unlikely||Possible, but severely||Almost impossible||Impossible|
|Limited Liability Protection||Yes||Yes||Yes||No||No|
|Tax Advantages||Few benefits||Most efficient||Few benefits||Minimal||Minimal|
Why Proprietorship Registration?
- Easy to Start
- Minimal Compliances
- Audit not required