Registration for proprietorships, including:-
1. UDYAM registration
2. GST registration.
|Ady & Co. Chartered Accountant||: ₹2899 All Inclusive|
|₹2457 + ₹442 GST|
|You Save||: ₹2000 (41%)|
|Government Fee||: Included|
Documents Required For Proprietorship
PAN Card of the ProprietorshipAadhaar Card
Aadhaar card of the Proprietor.
One of the earliest and simplest business structures to establish in India is the sole proprietorship. A proprietorship is a form of business where the owner owns, runs, and controls the whole enterprise. There are extremely few compliance requirements because the proprietorship and proprietor are identical, making it simple to start. A proprietorship cannot have additional partners or shareholders because the proprietor and the business are one and the same. Furthermore, the proprietor’s minimal liability from the business operations carried out under the sole proprietorship is unprotected. Therefore, small firms with no more than 5 employees are best served by this type of corporate entity.
Who is a sole proprietor?
How to check proprietorship status?
Proprietorship legal entity status and recognition
Sole Proprietorship Registrations & Licenses
Advantages of Proprietorship
Disadvantages of Sole Proprietorship
Registering a Proprietorship Online through IndiaFilings
Proprietorship vs Limited Liability Partnership (LLP) vs Company
|Definition||Unregistered type of business entity managed by one single person||A formal agreement between two or more parties to manage and operate a business||A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company.||Registered type of entity with limited liability to the owners and shareholders|
|Ownership||Sole Ownership||Min 2 Partners|
Max 50 Partners
|Designated Partners||Min 2 Directors
Min 2 Shareholders
Max 15 Directors
Max 200 Shareholders
For One Person Company
1 Nominee Director
|Registration Time||7-9 working days|
|Promoter Liability||Unlimited Liability||Limited Liability|
|Partnership Deed||LLP Deed|
|Governance||-||Under Partnership Act||LLP Act, 2008||Under Companies Act,2013|
|Transferability||Non Transferable||Transferable if registered under ROF||Transferable|
|Compliance Requirements||Income tax filing if turnover is more than Rs.2.5 lakhs||ITR 5||Form 11|