A proprietorship refers to a pseudonym for the Proprietor for doing business. Proprietorships are quite suitable for very small businesses in the sector that is unorganised. Unfolding tax offers proprietorship registration that starts from Rs.999/-
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Registration of Proprietorship
A solo proprietorship refers to a type of business entity that is unregistered but is owned, controlled and managed by one person. Sole proprietorships are amongst the most common forms of business in India, that are utilized by most small or micro businesses that operate in the unorganised sectors. Proprietorships are quite fuss-free to start and have very minimum regulatory compliance terms and minimal operating. Nevertheless, after the startup phase, proprietorship’s failing to offer the promoter an array of benefits like limited liability proprietorship, separate legal entity, corporate status, separate existence, transferability, continued existence – which are profitable features for any business. Thus, proprietorship registration is suited solely for small businesses that are unorganised will stay small and/or have a very limited time of existence.
There is no tool given by the Government of India for registering a Proprietorship. Therefore, the presence of proprietorship needs to be established via tax registrations and other business registrations that is required by a business must be according to the rules and regulations. For example, VAT or Service Tax or GST Registration can be done in the name of the Proprietor for establishing that the Proprietor is operating a business as a sole proprietorship. Thus, all the registrations for a proprietorship would be in Proprietor’s name, which makes the Proprietor personally accountable for the liabilities of the Proprietorship.
Unfolding tax is the pioneer in company registration services in India, that offers a great variety of company registration services like private limited company registration, Producer Company Registration and Indian Subsidiary registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration. The normal time taken for completing a proprietorship registration is 3 – 5 working days, which is subject to processing time and document submission by the client. Get a complimentary consultation for proprietorship registration and setup of your business in India by registering an appointment with an Unfolding Tax Advisor.
Reasons for registering a proprietorship company
Easy to begin
Easy for closing
Documents needed for proprietorship registration
Easy and transparent pricing
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