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Proprietorship Registration

Proprietorship is usually a Micro or a Small Business that is solely owned and run by a single person. It is the most common form of running business and part of the unorganized sectors. For Start-ups, this is the most appealing way of beginning starting business with the least compliance involved.

 

ADVANTAGES OF PROPRIETORSHIP FIRM

Following are the benefits of Proprietorship business that Look4Expert lists for you:

  • It is the easiest way of starting any business by a single without completing any formalities as it is not necessary to Register a Proprietorship business.

  • The Proprietor can choose any name for the business since it is not registered. However, the name should not infringe on any registered trademark violating the law.

  • All decisions about finance and investment are taken solely by the Proprietor or the owner of the business.

  • As the Proprietorship is the same as the Proprietor, there is no need for the formal dissolution of the business. As the sole owner, the Proprietor can close the business any time she or he wants to.

  • Any Proprietorship business that has a turnover less than 2 lakhs does not have to pay income tax.

Why You Should Register The Proprietorship Firm

The legal existence of a Proprietorship business is established by way of a set of tax and business registrations. Look4Expert professionals carry out all types of Company Registration in Bangalore helping business owners validate their Start-ups, Small and Medium-sized Businesses.

These are the areas where we can help Register a Proprietorship Firm for the giving your business the legal entity that it needs:

  • We begin with a Start-up consultation where our experts will advise you on the different types of Government Registrations.

  • Initiate the proprietary registration India with TAN Registration inclusive of all Government Fee and Service Tax.

  • Obtain the VAT / Service Tax or the GST Registration in the name of the Proprietor as applicable according to the type of business to be conducted. All such tax registrations are subject to Government processing time and usually completed within 10 to 15 days.

  • Establish the business identity with MSME Registration under the Udyog Aadhaar with the iCFO Compliance tracking. MSME Registration subject to Government processing time is completed within 10 to 15 days.

  • Help open Current Bank Account for the Proprietorship with the Udyog Aadhaar Registration.