Tax Unbound

Sole Proprietorship Registration

What it means?

Its type of business entity managed & controlled by a single person/owner who is called the Sole Proprietor of the Firm. The registration of a proprietorship can only be recognized through tax registrations that the business is required to have as per the rules and regulations.

Service Price options:

Beginner

From ₹1,090

✅ Free Consultation

GST Registration & Certificate

✅ 3-7 Days Delivery time

Standard

From ₹2,090

✅ Free Consultation

GST Registration & Certificate

✅ MSME Registration

✅ 3-7 Days Delivery time

All inclusive

From ₹3,090

✅ Free Consultation

GST Registration & Certificate

✅ MSME Registration

Shop & Establishment Act License

✅ 3-7 Days Delivery time

Preliminary Documents Checklist

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Passport Size Photograph
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PAN & AADHAR Card
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Proof of Place of Business

Electricity Bill, Municipal Tax Receipt, Rent Agreement or Lease Agreement

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Bank Account Details

Cancelled Cheque Copy

Document Checklist Image for Company Incorporation
Sole Proprietorship process brief

Process Brief

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Submit Documents as per Checklist
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Documents are checked & Verified
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Online Application forms are filled & Submitted

AADHAR-Mobile KYC verification required

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Registration Certificate Is obtained

Key Benefits

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Easy to start as compared to other businesses
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Quick decision & control with single owner
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No separate Corporate Tax payments.
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Overall very Inexpensive
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Minimum Compliance is required

Compliances of Proprietorship firm

GST Returns compliance for Sole Prop.

GST Returns

Monthly, Quarterly & Annual GST Returns are required to be filed for those who have opted for GST Registration and who crosses required thresholds.

Bookkeeping & Accounting

Bookkeeping records are required to be prepare in order calculate the exact profit and loss of the business. However not mandatory, but beneficial.

Income tax compliance for Sole Prop.

Income Tax Returns

Income tax returns needs to filed every year over taxable income. This may also require preparing Profit & Loss with Balance sheet for business.

Didn't answer your question?

Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Call us @+91 9870114333

Any Indian citizen can start a sole proprietorship firm.

Thanks to Government of India’s digital initiatives, all registrations are completely paperless and online. We provide all services online so that you don’t need to move an inch from your office or home.

Most local businesses are run as a Sole Proprietorship, from your grocery store to a fast food vendor, and even small traders and manufacturers. This is not to say that larger businesses do not operate as sole proprietors.

You can always choose to do so. The procedure is very simple. It is very common for sole proprietors to convert into partnerships and private limited companies at a later stage.

To open a current account, you need proof of the existence of your business. Many banks will ask for MSME registration and/or GST Registration. In addition, you will need a PAN card and address and identity proofs.

Request your free quote

To ensure that we’re the right company for your services required even before you spend a single rupee, and to make working with us as easy as possible, we offer free quotes for your requirements. The form on the other side allows you to request a free quote from us for your specific requirements, no matter how big or small it is.

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