Sole Proprietorship Firm registration

GST registration – INR 799/-
IEC registration – INR 2499/-
Shop and establishment – INR 1499/-

Documents Required

Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving

Pan Card

Scanned copy of PAN Card of all directors

Latest Bank Statement/Telephone or Mobile Bill

Latest Bank statement/ Utility bill in the name of director which should not be older than two months

Photo

Latest passport size photograph

Voter ID/Passport/Driver's License

Scanned copy of Any of all these.

How much processing time?

2-3 DAYS

Advantages of Sole Proprietorship

Ease of formation

Starting a sole proprietorship is much less complicated than starting a formal corporation, and also much cheaper.

Tax benefits

The owner of a sole proprietorship is not required to file a separate business tax report.

Employment

Sole proprietorships can hire employees. This can lead to many of the benefits associated with job creation, such as tax breaks.

Decision making

Control over all business decisions remains in the hands of the owner. The owner can also fully transfer the sole proprietorship at any time as they deem necessary.

Compare your options

	Private Limited	Limited Liability Partnership	One Person Company	Partnership Firm	Sole Proprietorship	Public Limited Company
Recommended For	Start-ups and growing companies	Professional services firms	Sole promoters	Home businesses	Small traders and manufacturers	Growth Stage and also for early stage with broad business vision
Ease of Accommodating Investment	Very easy to accommodate	Possible, but unlikely	Possible, but severely unlikely	Almost impossible	Impossible	Very easily
Limited Liability Protection	Yes	Yes	Yes	No	No	Yes
Tax Advantages	Few benefits	Most efficient	Few benefits	Minimal	Minimal	Minimal
Perpetual Existence	Yes	Yes	Yes	No	No	Yes
Statutory Compliances	High	Low	High	Minimal	Minimal	Yes
Shares Listing						Yes

See Our Blogs

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Requirement for Having Director Identification Number

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Is Digital Signatures Certificates are mandatory in case of Company registration?

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What are the liabilities on members for having below minimum membersâ€™ strength?

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Is roll checks are mandatory for Directors inMinistry of Corporate Affairs website

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What are the Liabilities of the subscriber in case of One Person Company?

It has been provided that the subscriber/member of OPC may at any time change the name of the nominated person by giving notice to the Registrar. It shall be the duty of the subscriber/member of OPC to intimate the company the change, if any, in the name of the person nominated by him by i... Read More

Can we Change in the nominee by the member of OPC?

Any such change in the name of the nominee person in the Memorandum of Association of the OPC shall not be deemed to be an alteration of the memorandum....

Change in the name of person nominated in the Memorandum shall not be deemed to be alteration in the Memorandum of Association

Can OPC Change in the nominee by the member of OPC?

By the Companies (Amendment) Act, 2015 effective from 29th May, 2015 the requirement of minimum paid up capital for a private limited company of `1 Lakh and for a public limited company of `5 Lakhs has been removed from the definition of the Companies under section 2(68) and 2(71) of the Companies A... Read More

Requirements of minimum paid-up capital

The objective of section 8 of the Companies Act, 2013 is to provide special benefits and privileges to such organisations, which are formed for the following purposes and where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be regist... Read More

Main condition for Section 8 Company registration

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Restriction on alteration in the Memorandum and Articles of a charitable company licensed u/s 8

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Mandatory Conversion of One Person Company into Private Limited or Public Company

OPC shall be required to convert itself, within six months of the date on which its paid up share capital is increased beyond fifty lakh rupees and the last day of the relevant period during which its average annual turnover exceeds two crore rupees as the case may be, into either a private co... Read More

OPC has to convert into Private or public limited company within 6 months

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