Proprietorship Firm Registration
Proprietorship firm registration service provided by TaxHills.We have made Startup incorporation services online,simple and easy for India.Click here to avail our Proprietorship / Individual firm formation service online !
TAN Number Allotment
Bank A/c Opening Support
GST Return for Six Month
TDS Return for Six Month
List of Documents for Proprietorship Registration
Two Colour Photograph
Self Attested Copy of Pan Card
Valid Identity Proof of Proprietor
Latest Address Proof of Proprietor
Proof of Registered Address
NOC from the Owner of Premises
Ease of setup
The entrepreneur can start operations and receive payments from clients as no registrations are required to start a proprietorship.
Ease of compliance
The other advantage of a Proprietorship is that it requires no additional compliance in most cases. The PAN of the proprietor and proprietorship are one and the same. Hence in most cases, only income tax return in Form ITR-3 must be filed every year.
Ease of dissolution
The proprietor does not have to particularly wind up the company incase he wants to cease operations. This saves a lot of time and effort.
A sole proprietorship does not provide the proprietor with limited liability protection. So the proprietor would be held personally liable in case of any loss or liability.
Any license or registration obtained in the name of the proprietorship cannot be transferred to any other person or entity.
The existence of the sole proprietorship is tied to the proprietor hence it would cease to exist with the proprietor.
A proprietorship cannot raise equity funds from angel investors, venture capital firms or PE funds. Banks also tend to restrictions on the amount of credit they can lend.
Due to the disadvantages mentioned above, this registration will be suitable only for small businesses and the unorganised sector with a limited period of existence.
- Proprietorship Firm / Individual ₹2,499.00 – ₹8,999.00 GST