Subscribe to Newsletter
Subscribe to Newsletter to get updated Government notifications
Proprietorship
It is also known as Sole Trading Concern. It is popular not only in India, but in foreign countries also. A Sole Trading concern is a form of private sector enterprise that is owned, managed and controlled by an individual businessman. It is also called one man business or Individual Entrepreneurship and owner of the business is commonly called the Sole Proprietor or Sole Trader. Sole Trading concern is a form of organization having only one owner. It is the oldest and simplest form of organization.
Documents required
- Pan card
- Aadhar card
- Business Address proof
FilingUp: Where You Get More Bang for Your Buck! Enjoy these Extra Perks at No Additional Cost!”
Our package includes
We at FilingUp make sure that you do not waste your precious time and resources behind all tedious and time consuming legal registration works with the repective government departments hence we have legal experts to make your business/startuup journey hasselfree and smooth with just 4 step process
FilingUp easy process
Pricing Summary:
Market Price
₹2999
Our Price
₹2499
Quick Contact !
Sole Trader invests his own capital into the business and manages all the business. The full control of business rests in him. He bears the entire risk and derives the total benefits. He may engage in any business he chooses without much legal formalities, unless he wishes to engage in certain types of business requiring licenses e.g. if a man wishes to open General stores, he may do so, if he can find good location and have sufficient money for that business. On other hand, to open a medical store, he will have to obtain a license from Government authorities.
Merits
- Easy formation
- Benefit of Secrecy.
- Direct Motivation
- Quick Decisions
- Lower Costs
- Development
- Flexibility in operation
- Credit standing
- Efficiency
FAQS
What is Sole proprietorship
A Sole Trading concern is a form of private sector enterprise that is owned, managed and controlled by an individual businessman. It is also called one man business or Individual Entrepreneurship and owner of the business is commonly called the Sole Proprietor or Sole Trader. Sole Trading concern is a form of organization having only one owner. It is the oldest and simplest form of organization.
What are the compliances for the sole proprietorship?
Income tax return annually and GST return is required to be filed on monthly/ Quarterly basis for sole proprietor.
What is duration of proprietorship?
It depends upon the life of owner and his intention to continue his business.
Is the owner of the sole proprietorship and sole proprietorship are same?
Yes, both are same
What are the licenses required for proprietorship registration?
It depends upon state to state. In general GST registration and Udyam registration are required for proprietorship.