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Sole Proprietorship

Overview

A sole proprietorship firm is such a kind of business entity that’s owned, controlled, and managed by one person. The owner of the Business is named Sole Proprietor of the Firm.  it’s very easy to begin as there are fewer legal formalities and lesser formation costs involved.

Book My Consultant is a renowned business platform, which helps in incorporation, compliance, advisory, and management consultancy services to clients in India. Incorporating a Proprietorship Firm is simple, seamless, cheapest, and quickest with bookmyconsultants.com! You shall get in touch with us for a free consultation.

Our Process

Estimated time to complete the process – 3-4 working days

Step 1

Initial Discussion & Consultation

Step 2

Collection of Basic Information

Step 3

Collection & Compilation of Documents

Step 4

Preparation & Submission of Online Application

Step 5

Obtain Registration Certificate

Step 6

Dispatch of all Certificates and other deliverables.

Choose Your Package

  • Basic
  • Premium
    • ₹ 3500
      • GST REGISTRATION
      • MSME REGISTRATION
      • BANK ACCOUNT OPENING SUPPORT
      • E WAY BILL PORTAL REGISTRATION
      • 3 MONTHS GST RETURN FILLING
    • Purchase Now
  • Ultimate
    • ₹ 10000
      • GST REGISTRATION
      • MSME REGISTRATION
      • BANK ACCOUNT OPENING SUPPORT
      • E WAY BILL PORTAL REGISTRATION
      • 1 YEAR GST RETURN FILLING
      • 1 YEAR INCOME TAX RETURN FILING
    • Purchase Now

Benefits

Quick decision making

Control over all business decisions remains within the hands of the owner. This makes sure quicker business deciding and faster execution. Owners have direct control over all decisions.

Easy to begin

The registration process for starting a sole proprietorship firm is extremely easy compared to other business structures. One can get a Registration Certificate within 1 working day. Obtaining a GST registration is additionally very quick and straightforward.

Tax benefits

The owner of a sole proprietorship isn't required to file a separate business tax report. The business is going to be taxed at the rates applied to non-public income, and not corporate tax rates. this means huge tax savings.

Inexpensive

A Sole Proprietorship is inexpensive as compared to all or any other sorts of organizations. Also on account of the minimum compliance requirements, it's inexpensive even at end of the day. There are minimal compliance filings and lots of concessions in various laws.

Documents Required

To start a Sole Proprietorship, the following documents are required

Address and identity proof

PAN card, KYC documents

Passport size Photograph

Rental agreement or sale deed (in case of Shops & Establishment Act Registration).

To open a current account, the following documents are required

Proof of the existence of your business

Shops & Establishments Act Registration

PAN card

Address and Identity proof

GST Registration Certificate.

Although sole proprietor doesn’t require any specific registrations, it is advised to obtain a few registrations to make his business function smoothly.

Registering as SME

Shops & Establishments Act Registration

GST Registration

Clear All Your Doubts !

Any Indian citizen can start a sole proprietorship firm.

You can always prefer to do so. The procedure is extremely simple. It's quite common for sole proprietors to convert into partnerships and private limited companies at a later stage.

Let’s start your business journey with Book My Consultant.

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