A sole proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person. Sole proprietorship's are one of the most common forms of business in India, used by most micro and small businesses operating in the unorganised sectors. Proprietorships are very easy to start and have very minimal regulatory compliance requirement for started and operating.
Submit your documents to us.
Tax me representative will cordinate with you for further information, if required
Documents will be verified by Taxme expert
We will apply for GST & MSME regisrtration
After obtaining of GST & MSME certificate then you will apply for opening of current a/c
Sole Proprietorship is the best business form to choose if you want to begin your startup with limited funds and resources. Besides, it is the most feasible form of business if you want to execute your business plan with least legal compliances and minimum operational outlay.
The process of registration of a Sole Proprietorship firm can be completed in 2 to 20 business days, depending upon the type of registration. This takes further time in case there is any delay in government approval.
The major benefit in a Sole Proprietorship business is that the trader is given concession in taxes. He is liable to pay tax at the individual tax rate, which is 10% and exempted from the corporate tax, i.e. 25%.
In case you have to open a new Current account in the business name, you need to furnish the Shop Establishment certificate. Current account details are mandatorily required for setting up Sole Proprietorship.
The task of Sole Proprietorship registration is performed by the Registrar of Establishments.
Yes E-StartupIndia is an online platform serving all over India no matters wherever you are doing business all you need is internet connection on your mobile or desktop and we are ready to get your job done