When single person runs a business then such kind of business is called as Proprietorship Business, and the owner of the business is called as Proprietor. Proprietorship is the most common form of the business which is used in India. You can start and operate the business with minimum regulatory compliance. Incorporation of the Sole Proprietorship Firm is very easy. You do not require any business registration certificate and the taxation charged are same as that on an individual. So you have to pay the taxes on the slab basis which saves your taxes on the net profit of business. Maintenance cost of this business is very low. These advantages account for the widespread adoption of the sole proprietorship in the India. Any person who wants to set up shop and begin dealing with customers can get right to it, in most cases without the intervention of government bureaucrats or lawyers.
Following registrations can be used to show the existence of your Proprietorship Business:
Shop & Establishment Registration
Documents & Details Required for above Registration:
- Name of Business:
- PAN Card
- Aadhar card
- Voter ID/ Driving Licence / Passport and other Address Proof
- Email ID
- Phone No.
- Rent Agreement (Business Place)
- Electricity bill (Business Place)
- List of Item