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Registration of Proprietorship Business

Register your Proprietorship business with the help of our Taxteam. We Taxteam leading eminent service  providers through  Online / Offline registration of your business anywhere in India in one Call / Mail / Message.

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Registration of your Proprietorship business

The Sole proprietorship is owned, managed and controlled by an individual. Proprietor is the only person who has control over the responsibility for running the business, arrangement of capital and management of the business.

No deed or agreement is required to register your business. Proprietor of the firm is entitled to bear all the profits and losses of the business. Liability of the Proprietor is unlimited.

Proprietorship Firm Registration

Advantages of starting a Proprietorship business

Easy Formation

Sole proprietorship is the most popular form of business organisation due to the ease of formation. This helps to increase young entrepreneurs for the development of their business and startup ideas.

Inexpensive Management

The formalities are less and inexpensive in setting up sole proprietorship firms. The Sole Proprietorship does not appoint any specialist for various functions.

Decision Making Power

The power of Decision making will be in the hands of the proprietor. Since the business is managed by one person, the management becomes simple and easy.

Less Legal Compliances

The legal compliances under proprietorship is much lower than other form of business registrations.

Documents required for Registration of Proprietorship Firm

The following documents and requirements to register your Proprietorship Firm,

Aadhar / Voter ID / Driving licence / Passport

The Address proof of the proprietor along with the  Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.

The photos of the respective proprietor should submit for the clarification and proof.

The PAN card of  the respective proprietor of the firm.

Digital signature is the electronic signature format of the proprietor for the purpose of  e-filing.

No objection certificate by the owner / landlord must be enclosed.

Modes of Registration of Proprietorship business

Frequently Asked Questions

As the name suggests, only one person is required to start the sole proprietorship business.

There is no minimum capital requirement in sole proprietorship business.

The liability of the proprietor is unlimited is one of the major disadvantages of a proprietorship concern.

No , registration is mandatory to sue to third party.

No, registration is not compulsory but registration provide you legal rights.

If you have any further queries, get  our experts’ opinion. For free consultation Contact our Taxteam to resolve all your queries.

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