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Sole Proprietorship

  1. Services
  2. Sole Proprietorship

This is the simplest form of business which is usually recommended for traders, small manufacturers and service providers and is the most popular form in the small and unorganised sector. You can simply choose a trade name, get the applicable government registration, open a bank account and you are good to go.


We help you in deciding right registrations and handhold you through the process.

  • It can be PAN and GST at the simplest level.
  • Depending on nature of business and transactions you may also need TAN, Shops & Establishment and Professional Tax.
  • Further you may also want an Import Export Code or want to register under MSME


The process is simple. We call you back and discuss/understand what your needs are. Once that is done we send you a formal proposal mentioning the documents we need (we will discuss options for the same before sending proposal) and fees for the service. You pay us online and send us the documents. We complete the filing process and you are ready to start


  • We can maintain your accounts and give you periodic progress reports at end of every month
  • We can file your TDS & GST returns
  • We can compile and file your income-tax returns


Identity Proof:

  • PAN card for Indian nationals (we can do it for you in case you do not have it or need any corrections)
  • Notarised copy of passport for foreign national

Address Proof (Any One):

  • Passport
  • Driving license
  • Aadhaar card
  • Bank statement (less than 2 months old)


Nature & Ownership:

  • Sole proprietorships are unregistered business entities owned, managed and controlled by one person. They are the most popular format for micro and small businesses operating in the unorganised sector.

Environment & Regulation:

  • They are very easy to start. Regulatory compliance requirement for started and operating them are minimal.
  • There is no mechanism provided by the Government of India for the registration of a Proprietorship. Registration of proprietorships is established through tax and other business registrations that a business must have as per the applicable laws. This could be GST, Shops & Establishments, Professional Tax etc.
  • All the registrations for a proprietorship would be in the name of the Proprietor, making the Proprietor personally liable for all the liabilities of the Proprietorship
  • Proprietorship will have to file their annual tax return with the Income Tax Department and GST. However, annual report or accounts need not be filed with the Ministry or Corporate Affairs like Limited Liability Partnerships and Companies.
  • Audit is not required unless the turnover exceed 40lakh (for income tax) or 2 crores (for GST)

 Banking & Operations

  • To open a bank account for a Proprietorship, RBI KYC (know you customer) requires that the proprietor provide two forms of registration for the Proprietorship along with the PAN Card, identity proof and address proof of the Proprietor. These could be GST registration, MSME registration, Shop & establishment Act registration, Professional license, Chartered Accountant certificate etc.


  • Promoter do not have benefits such as limited liability, separate legal entity, independent existence, transferability, perpetual existence – which are desirable features for any business. Therefore, proprietorship registration is suited only for unorganised, small businesses that will remain small and/or have a limited period of existence.


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