Description
Proprietorship Registration India
The sole proprietorship is one of the oldest and easiest business structures to start in India. It is a type of business owned, managed, and controlled by one person, who is the proprietor. Because the proprietorship and proprietor are the same, it is very easy to start, with minimal compliance requirements.
Proprietorship Registration India
As the proprietorship cannot have other partners or shareholders, and there is no limited liability protection for the proprietor, this type of business entity is best suited for very small businesses with no more than 5 employees.
We can help in registering a sole proprietorship, a simple and efficient business structure ideal for solo entrepreneurs. With expert guidance and a streamlined process, you can start your proprietorship firm registration online quickly and hassle-free. Start your Sole Proprietorship registration with us and unlock the potential of your business ideas.
Proprietorship Registration India
In India, registering a proprietorship follows a unique approach because there isn’t a dedicated government-established registration process for this business structure. Instead, a proprietorship firm gains recognition through tax registrations mandated by relevant laws and regulations. One important tax registration is the GST (Goods and Services Tax) Registration, which must be obtained under the proprietor’s name to formalize the business’s proprietorship status. This registration signifies that the proprietor is conducting business within the framework of a proprietorship.
Essential Licenses and Registrations for Proprietorships
To run a proprietorship in India, you need important licenses and registrations, including:
Advantages of Sole Proprietorship: Proprietorship Registration India
1. Easy registration: Sole proprietorships do not have a formal incorporation or dissolution process since the proprietor and the business are considered the same. However, the proprietor may need to obtain certain registrations and licenses to comply with Indian laws and regulations.
2. Lower compliance: Since most proprietorships are only registered with government departments like Income Tax & GST, the compliance burden is lower compared to entities like LLP or Company, which must file various statutory returns and undergo annual audits by a Chartered Accountant.
3. Simplicity: Due to the absence of partners, shareholders, or directors, the proprietor can operate the business with minimal documentation and consent requirements. Therefore, this business structure is suitable for very small businesses.
4. Business decision-making: In a proprietorship, the business owner makes all decisions without requiring consent or approval from others. This allows the proprietor to make quick decisions regarding business affairs.
5. Complete control: As the sole owner of a proprietorship, the proprietor has full control over assets, revenue, expenses, and all business operations.
Disadvantages of Sole Proprietorship: Proprietorship Registration India
Funding: This business structure relies solely on one person’s savings, borrowings, and credit history. Since there are no other individuals involved, obtaining funds from banks can be challenging. Raising equity funds is not possible as this type of business entity does not allow for-profit sharing or shareholding.
Personal liability: If a proprietor is unable to pay business loans or taxes, their assets can be attached or encumbered. Therefore, the proprietor will be held personally liable until all the liabilities are settled.
Business continuity: In the event of the business owner’s death or disability, the sole proprietorship will be automatically dissolved, resulting in no business continuity.
Growth: Proprietorships face various restrictions in terms of fundraising, liability, and business continuity. As a result, only very small businesses in the unorganized sector operate as proprietorships.
Unincorporated business: Sole proprietorships are unincorporated, meaning there is no centralized database to check if a sole proprietorship is active or inactive. Consequently, sole proprietorship entities are mostly classified as unorganized businesses.
Proprietorship Registration India
Obtaining Shops & Establishment Act License for Proprietorship
From state to state, the process for acquiring a Shop and Establishment registration certificate changes. It is available both online and offline. In most states, Shop and Establishment Act registration can be obtained within 2-3 weeks.
Timelines for Sole Proprietorship Registration
A sole proprietorship registration can normally be done in India through EYC International in less than 10 days. However, the timelines for registration will vary from case to case depending on the government and bank processing timelines.
Proprietorship Business Activities
A proprietorship can undertake any type of business activity that an Indian person can undertake across most sectors and industries. However, there are some activities like banking, insurance, financial services, lending, defense, and telecommunication that require specialized approval. In such cases, a company is mandatorily required to obtain various approvals from the Government. Hence, proprietorship business structure only works for business activities that are small-scale in nature.
Compliances for Proprietorship
Income Tax Filing: The business owner of a proprietorship will have to file a personal income tax return using the form ITR-3 or ITR-4.
Business Income:Â Only income tax forms ITR-3 and ITR-4 allow for declaring business income. Hence, all proprietorships will have to file form ITR-3 or ITR-4 to be compliant with the income tax regulations.
GST Return Filing:Â If a proprietorship has GST registration, GST return must be filed every month and quarter as per the scheme under which the business is registered.
TDS Returns:Â In case the proprietorship is having employees or purchasing goods/services beyond a certain threshold – tax must be deducted at source and TDS returns must be filed every quarter.
In addition to the above, various other compliance requirements may be applicable to the proprietorship based on industry and location.
Our Services: Proprietorship Registration India
Startup India Registration | |
GST Registration | |
APEDA Registration | |
12A and 80G Registration | |
PT (Professional Tax) Registration | |
GEM (Government e-Marketplace) Registration | |
Udyam (MSME) Registration | |
NSIC (National Small Industries Corporation) Registration | |
IEM (Industrial Entrepreneurs Memorandum) Registration | |
IEC (Import Export Code) Registration | |
Preparation and filing of GST returns | |
PF (Provident Fund) & ESIC (Employees’ State Insurance Corporation) Registration | |
Food License ( FSSAI Registration) | |
Trade Marks Registration | |
MOA and AOA Amendments | |
Adding or Removal of Directors | |
GST (Letter of Undertaking) LUT Registration | |
e-Anudaan (Grants-In-Aids To NGOS) | |
CSR-01 Form (To get CSR funding). | |
NGO DARPAN Registration (maintained by NITI Aayog) | |
Digital Signature (Class-3) For 2 Years. | |
ISO 9001:2015 Quality management systems | For Three Years |
CE REGISTRATION (Conformite Europeenne, conformity with European health, safety, and environmental protection standards on commercial products). |
Other Services: Proprietorship Registration India
Private Limited Company Registration | |
Limited Liability Partnership – (LLP) | |
Annual Compliances Filing with ROCÂ | |
Startup India Registration | |
Certificate and other Licenses | |
ISO Certification | |
Trade Mark Registration | |
Patent Filling | |
Copyright | |
Search Engine Optimization | |
Content Marketing | |
Link Building | |
Social Media Marketing  The per month package starts from – Basic ₹11,999/-/- Advanced for ₹29,999/-/- and Enterprise for ₹39,999/- | |
Brand Strategy | |
Pay Per Click – The per month package starts from – Basic ₹10,000/- Advanced for ₹20,000/- and Enterprise for ₹30,000/- |
Patent Filling
- Novelty search: ₹12,000–₹15,000
- Patent drafting: ₹30,000–₹35,000
- Professional services: ₹1,000–₹5,000
Content Marketing
- Content strategy: ₹10,000–₹25,000 (one time)
- Content creation: ₹15,000–₹50,000 per month
- Graphic design: ₹5,000–₹20,000 per month
- Tools like plagiarism checkers and Grammarly: ₹2,000–₹10,000 per month
- Promotion on social media and PPC: ₹10,000–₹30,000 per month
- A basic social media management package might cost ₹15,000–₹30,000, while a full-fledged SEO and content marketing strategy could cost ₹30,000–₹50,000 per month.
Social media marketing
- Platforms managed
- Frequency of posting
- Additional services
- Scope of the project
- Level of expertise required
- Services included
strategy development, content creation, community management, social media advertising, analytics tracking, and reporting.Â
- INR 12,000 per month for small businesses, INR 24,000 per month for advanced businesses, and INR 35,000 per month for enterprise businesses.Â
Business Branding
Link Building
Average prices per link range from ₹99/- to ₹999/- for the low end ₹1,999–₹49,999/- for the medium end, and ₹59,999/- to ₹1,99,999/- for the high end.
Pay per click
Details
- Price Only ₹999
- Slogan Exceeding Your Expectations!
- Brand color
- Color Green
-
We Require
- Franchise Manager
- Branch Manager
- Marketing Executives
- Back Office Staff
- Accountant
- Tele Callers Females
- Listing categories Service / Legal Services
- Location / Region Maharashtra/ PEN CITY/ Raigad District
Location
Contact
- Person Asim Patel
- Phone 7891007892
- E-mail eycintl@gmail.com
- Address Suite #1, 33/9 Patel House Near Govt. Rest House Pen Raigad 402107
Office Details
- Inquiry 7066033555
- Website https://www.eycinternational.in
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