Sole Proprietorship
ValueTax- Take your business beyond the four walls
Ideal For Professionals Small Traders
Overview
- Single Ownership: This is the only form of business entity that can be promoted by a single individual.
- Management And Control: Control of the business is in the hand of single owner, therefore it’s easy to run the business
- Easy Formation: Any sole proprietorship is simple to begin. One needs to simply have a GST Registration in place. The sole proprietorship business can be set up in 7 days with the help of a PAN card for identity and proof of address.
- Minimum Compliance: Sole Proprietorships have minimum compliance as this firm is identified by its government and tax registrations.
- Economical: When compared to an OPC or One Person Company, a Sole Proprietorship is economical due to its minimum compliance requisites. It works out much cheaper because one would not need to hire an auditor. One of the main reasons why small merchants and traders choose it.
- No corporate tax liability: As per the direct tax laws of India, the sole proprietary entities are not liable to pay flat corporate profit tax, unlike other business forms.
Packages
Choose the package that suits you and let us know.
Why Sole Proprietorship?
If you have limited funds and resources, still you aspire to be an entrepreneur, Sole Proprietorship is the right choice for you reason being it’s the easiest for of business to start with lesser tax and government compliances. Read More On Our Blog.
Talk to a CA to know more!
Steps Involved
Step 1: Business registration consultation
Step 2: Online Sole Proprietorship Registration
Step 3: Apply for TAN
Step 4: Incorporation
Required Documents for Sole Proprietorship
In regard to Sole Proprietorship, following documents are needed:
Aadhar Card
PAN Card
Bank Account
Registered office proof