Sole Proprietorship Registration

Sole Proprietorship Registration

CCV India offers Secretarial Services for sole proprietorship set-up in India. A sole proprietorship is a business structure owned and managed by only one person that is the reason which makes it a common form used by small businesses. These have minimal regulatory compliance and are easy to start with no need of application filing to ROC. To establish a sole proprietorship service tax, sales tax, Shops and Establishments Act registration, etc is needed. Our legal team provides due support to get all the licenses and start a proprietorship in 10-15 days.

Benefits of Sole proprietorship:

Easy of formation: A Sole Proprietorship is one of the least demanding business structure to begin without any conventions. However, it is moderately harder to open a bank account or payment gateway for the business fa legal procedure might be required.

Minimum compliance: In Sole Proprietorship, the degree of compliance is minimum which is limited to annual filing of professional or sales taxes.

Tax benefits: A proprietorship owner is taxed as the individual there is no separate business tax with income less than 2 lakhs. Once the income exceeds 10 lakhs there is no significant taxation benefit.

Inexpensive: Because of the minimal compliance, Sole Proprietorship formation is inexpensive. This is the reason small traders prefer it over other options.

Business control: Complete business control remains with the proprietor. It enables instant decision making also owner can transfer the sole proprietorship whenever necessary.