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A Sole proprietorship is a business which is owned, managed and controlled by a single person. It is one of the most common form of business in India, utilized by small businesses operating in the unorganized sectors.
Sole Proprietorship doesn’t allow outsiders to intervene in the business proceeding or any other aspects unless the owner wishes them to do so.
There is no need to undergo a registration process. Only a license/registration to run a business legally as a Sole Proprietor is required.
The sole proprietors serve as the sole owner of their business and rejoice in uncompromised control over their profit.
Sole Proprietorship offers complete authority to the owner to take any decision regarding business affairs without the intervention of anyone else.
Tax authority doesn't treat Sole Proprietorship and Sole proprietor differently. Therefore, they do not need to address separate tax liabilities.
Business structures like a Private Limited company, OPC seeks high expenditure in terms of capital, which is nil in the case of the Sole Proprietorship.
The Sole Proprietorship business model doesn't come under the ambit of any specific law. Hence, it is free to operate without tedious compliances.
As a sole proprietorship, you can make and accept business payments straight from your own personal bank accounts.
In Sole Proprietorship, components included in an LLC or corporation do not have any significance. Owner is solely responsible for every decision.
We understand your urgency about getting legal. Therefore, we provide a hassle-free legal process. Complete any Registration in just 4 steps.
We encourage you to come up with any sort of questions related to legal documentation or any of our service, methodology implemented, quality assurance etc.
We give our best in providing consultation and give a quality output. Here are set of few questions which our beloved clients ask frequently, have a look at them.
- Pan Card copy of proprietor
- Electricity/ Water bill of Business
- Copy of Aadhaar Card/Voter identity card
It takes 14 days at max.
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