53%

Original price was: ₹12,999.00.Current price is: ₹5,999.00.

Deliverables *

a) Detailed discussion with the Lawyer to understand your JV related transaction.

b) Experienced business law expert Lawyer will draft the JV agreement.

c) Final discussion call to add suggestion you may have.

  • Choose your required Document & pay

Category:

Documents Required For A Sole Proprietorship

KYC Documents
Aadhar Card and PAN Card of the Individual
Address Proof- Owned
Electricity Bill for the Owned Property
Address Proof- Not Owned
Rent Agreement for the Rented Property NOC for the Family Owned Property
Bank Account information
Bank Statement or Canceled Cheque of the Individual

Advantages of One Person Company

Minimum Compliances
Less Compliances than other forms of entities
Easy to establish
The easiest and fastest registration process
Economical
Less Compliances ensure less costs to maintain the proprietorship firm
Complete control
Complete control Absolute control over the affairs of the firm

Register Sole Proprietorship in India

LegalAspire.com is a legal services platform that provides a comprehensive suite of services related to business formation, including the formation of a Sole Proprietorship in India. Here’s how Legal Aspire can help you:

Consultation: You can schedule a consultation with a business formation expert who can answer your questions about the process and requirements for forming a Sole Proprietorship  in India.

Obtaining PAN for Card for Sole Proprietorship Firm: A sole proprietor and the business are not considered as separate, and therefore, there is no procedure to obtain a different Sole Proprietorship PAN Card and the PAN Card of the Sole Proprietor is required. LegalAspire.com can help you in obtaining the PAN Card of the Sole Proprietor and to start your business with just an Aadhar Card. 

Documentation Preparation: LegalAspire.com can help you prepare the necessary documents, such as the Rent Agreement or NOC, that are required to register a Sole Proprietorship in India.

Udyam Registration: Under the Ministry of MSME, a sole owner can apply for an Udyog Aadhaar and take advantage of benefits available just to the MSME sector. The business is given a special identification number that gives it a distinct identity. LegalAspire.com can assist you in obtaining the Udyam Registration. 

SHOP & ESTABLISHMENT ACT REGISTRATION: Any location where clients get services, including wholesalers, retailers, office buildings, warehouses, and storage areas utilised in conjunction with the business, is referred to as a “shop and establishment.” It is best to register under the act if your firm operates in the aforementioned locations to ensure correct legal compliance. LegalAspire.com will help you in obtaining your Shop & Establishment Act registration.

GST Registration: LegalAspire.com can help you file the necessary paperwork with the Registrar of Companies to register your Sole Proprietorship Company.

Obtaining IEC: LegalAspire.com can assist you in obtaining an IEC for your Proprietorship to start your export business.

Obtaining FSSAI: LegalAspire.com can help you obtain a FSSAI Registration/ State License/ Central License to start your Sole Proprietorship in food industry.


In summary, LegalAspire.com provides a comprehensive and streamlined solution for entrepreneurs looking to form a Sole Proprietorship in India. With their expertise and experience, LegalAspire.com can help you navigate the complexities of the process and ensure that your Proprietorship is formed smoothly and efficiently.

What is a Sole Proprietorship?

One of the easiest and simplest ways to start a business is as a sole proprietorship or individual entrepreneur. A sole proprietorship is a type of business that is managed and controlled by one person, i.e. the owner of the business (proprietor). There is no distinction between the proprietor and the entity in the eyes of the law. Due to the same reason, it is very easy to commence the business with the sole proprietorship registration and there are very minimal compliance requirements.

Who is a sole proprietor?

A sole proprietor is the sole owner, manager and controller of the proprietorship business. 

Who is a sole proprietor in the opinion of the government? There is no legal separation between the sole proprietor and the business, and therefore,  a sole proprietor is seen as the same legal entity as the business. 

Compliances for Proprietorship

What are the Compliances for Sole Proprietorship?

The following are some of the compliances that are applicable for a sole proprietorship:

Income Tax Filing: The sole proprietor will have to file a personal income tax return using form ITR-3 or ITR-4.

Business Income: Income tax forms ITR-3 and ITR-4 are required to be filed to declare your business income. Hence, all sole proprietorships need to file form ITR-3 or ITR-4 to stay compliant with the income tax regulations.

GST Return Filing: If a sole proprietorship has a GST registration, it needs to file a GST return every month and quarter as per the requirement  under which the GST for business is registered.

TDS Returns: In case the sole proprietorship is having employees beyond a certain threshold or purchasing goods/services beyond a certain threshold – tax must be deducted at source and it needs to file the returns every quarter. 

In addition to the above compliances, there are certain other compliance requirements that may be applicable to the proprietorship based on industry, location and other factors. 

 

Legal Aspire will provide you consultation and assist you in explaining all your compliances under one roof. 

Schedule a free consultation with our expert and skilled professionals of Legal Aspire by connecting with our team at (+91) 8742880000 or support@legalaspire.com. 

Procedure For Sole Proprietorship Incorporation

How Legal Aspire can help you in registering your Sole Proprietorship?

 

Step 1: Select Sole Proprietorship Registration plan and pay, or Schedule a call with one of our Professionals by clicking on the Talk to Advisor button

Step 2: Professional from Legal Aspire will connect with you within 24 hours 

Step 3: Provide the required information and documents 

Step 4: Legal Aspire Professional will complete the filing 

Step 5: We will provide your Registration certificate once the firm is registered  

 

Get your Sole Proprietorship related Registrations done in a few clicks!

Frequently Asked Question

What does an Indian sole proprietorship firm mean?
In India, a sole proprietorship is a company with a single owner. A sole proprietorship refers to a single person who owns the business and is personally responsible for its debts; it is not a formal body.
When would a sole proprietor need to register for GST?
The sole proprietorship business would only need to register for GST if it falls under Section 22 or Section 24 of the CGST Act or any notification provided under the said Act.
Is a sole proprietor allowed to employ people?
Yes. Major work is accomplished by employees and laborers for small businesses and MSMEs. The number of employees that can be engaged by an MSME is unrestricted.
Can the name of a sole proprietorship business be changed?
The answer is yes. Public and governmental notices must be used to inform the public of the name change. In addition, each relevant party must be notified of the name change.
How Can My Proprietorship Be Transferred?
Selling tangible and intangible products, services, and goods to a new owner will allow you to transfer your GST Registration for Sole Proprietorship. The proprietorship cannot be sold to another owner; only the commodities and products may be.
How long does it take to register a Sole Proprietorship in India?
It takes around 8 to 10 days to get sole proprietorship registered in India.

Reviews

There are no reviews yet.

Be the first to review “Sole Proprietorship”

Your email address will not be published. Required fields are marked *

A JV is a very lucrative arrangement as it offers an enormous amount of benefits by which the parties to the JV could gain. The JV could be a beneficial arrangement in the following ways:

  • Leveraging of strength & resources available with both the parties;
  • Creating a platform to attain the business goals which are otherwise difficult or uneconomical to achieve independently;
  • Access to newer markets or segments;
  • Strengthen position in the existing markets;
  • Diversify into new businesses;
  • Gives competitive advantages;
  • Shares the risk or initial losses associated with a new business;
  • Allows the business to expand with a smaller amount of capital.

A JV can be structed in the following ways:-

1. Company

2. Partnership Firm

3. LLP

4. Strategic Alliance

No. This is not mandatory.

 

The parties to the J.V can contribute in the form of monetary capital, Plant & Machinery, technology, customers, know-how and experience, etc.


Related products