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Professional Fees Structure for Sole Proprietorship Registration

Basic

1499/- 1299/-

MSME Udyam Registration
PAN

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Elite

3999/- 2999/-

MSME Udyam Registration
GST Registration
PAN

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Supreme

29999/- 24999/-

MSME Udyam Registration
GST Registration
Income Tax Return Filing for 1 Year
GST Monthly Return (GSTR 3B and GSTR 1) Filing for 1 Year

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Tester

100/- 1/-

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Stepwise Process for Starting a Sole Proprietorship

Starting a proprietorship in India is easy—no formal incorporation required. Begin operations right away after meeting basic conditions. Just ensure you complete mandatory registrations to establish your firm's legal identity. Let us guide you the steps -

Documentation for starting proprietorship

Get started by arranging key KYC documents for the proprietor, including Aadhaar, PAN, and address proof. You'll also need proof of your business's principal address, such as a utility bill and an NOC from the property owner. Stay compliant and launch seamlessly.

Select a Unique Name for the Business

Pick a distinctive, legally valid name for your proprietorship that doesn't infringe on existing trademarks. It's best to trademark your business name for added protection. We can assist with registering your business name, domain, brand, and logo.

Unlock Benefits with MSME Registration

Proprietorships often qualify as MSMEs, unlocking benefits like collateral-free loans, interest subsidies, timely payments, and 50% IPR fee rebates. Plus, an MSME certificate is essential for opening a business bank account. We offer hassle-free MSME registration across India.

Proprietorship GST Registration Made Easy

Eligible sole proprietorships must register for GST to stay compliant. Submit your application and required documents on the GST portal. Once approved, you'll receive a GSTIN for all future GST transactions.

Obtain Shops & Establishment Registration

All non-manufacturing businesses, including sole proprietorships, must secure this registration from the State Labour Department. Submit an online or offline application along with the necessary documents to comply with legal requirements.

Essential Industry-Specific Business Licenses

Depending on your business activity and location, specific licenses may be mandatory. For example, an IEC Code is required for import/export operations, while FSSAI registration is essential for food-related businesses.

Documents Required for Sole Proprietorship

Documents of the Owner

1. Aadhaar Card

2. PAN Card

3. Address Proof (Voter ID, Driving License, Passport, Bank Statement, Electricity Bill)

4. Cancelled Cheque

Business Address Proof

1. Electricity Bill, Property tax receipt, Sale Deed, Registered Rent Agreement

2. It should not be older than two months

3. NOC from the Owner of Premises

Specific Requirements

Documents like bank statement or electricity bill should not be older than 2 months.

Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of a company must be submitted.

Checklist to Start a Sole Proprietorship Firm

Single Ownership:

The entire business is owned and managed by a single individual, who serves as the decision-maker and leader of the business operations.

Simple Formation:

Setting up a sole proprietorship is straightforward with minimal legal formalities. It has a low setup cost, making it a preferred choice for small businesses.

Full Control:

The proprietor has complete control over every aspect of the business, including operations, finances, and strategic decisions.

Unlimited Liability:

The owner is personally responsible for all debts and obligations of the business. If the business faces financial losses, the proprietor's personal assets may be used to settle liabilities.

FAQs on Sole Proprietorship

Get answers to all your queries

Who can be a Sole Proprietor?

Any person who is over 18 years, capable of entering into a lawful contract is eligible to start a proprietorship. The option to create a proprietorship is available to Indian Citizens only. However, NRIs and OCIs are permitted to establish proprietorship firms and invest only on a non-repatriation basis.
What is the minimum capital required to start a Proprietorship Firm?

A proprietorship business can be started with any amount of capital, as there is no prescribed limit for it. The proprietor must infuse the capital into the proprietorship based on the nature and scale of its business activities. He can introduce or withdraw capital at any time from the accounts of the proprietorship business as drawings.
What documents are needed for opening a current account in the name of my Sole Proprietorship?

To open a current account, you need proof of the existence of your business. Many banks will ask for MSME registration and/or GST Registration. In addition, you will need a PAN card and address and identity proofs.
What if I wish to convert from Sole Proprietorship to a Private Limited Company or Limited Liability Partnership?

You can always choose to do so. The procedure is very simple. It is very common for sole proprietors to convert into partnerships and private limited companies at a later stage.
What compliance do I need to do once I register my firm as Sole Proprietorship?

1. As a sole proprietor, you must file Income Tax Return annually.
2. Also, you need to file your GST Return if you are registered under GST.
3. A sole proprietor should also deduct TDS and file TDS return if liable for Tax Audit.
Still, have confusion?

Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at support@newtaxage.com

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Place your query/Request Call Back from our experts

Place your query/Request Call Back from our experts

Professional Fees Structure for Sole Proprietorship Registration

Basic

1499/- 1299/-

Elite

3999/- 2999/-

Supreme

29999/- 24999/-

Tester

100/- 1/-

Stepwise Process for Starting a Sole Proprietorship

Documents Required for Sole Proprietorship

Checklist to Start a Sole Proprietorship Firm

Single Ownership:

Simple Formation:

Full Control:

FAQs on Sole Proprietorship

FAQs on Sole Proprietorship

Get answers to all your queries

Who can be a Sole Proprietor?

What is the minimum capital required to start a Proprietorship Firm?

What documents are needed for opening a current account in the name of my Sole Proprietorship?

What if I wish to convert from Sole Proprietorship to a Private Limited Company or Limited Liability Partnership?

What compliance do I need to do once I register my firm as Sole Proprietorship?

Still, have confusion?

Client Testimonials
We Are Rated 4.8 on Google

Place your query/Request Call Back from our experts

Place your query/Request Call Back from our experts

Professional Fees Structure for Sole Proprietorship Registration

Basic 1499/- 1299/-

Elite 3999/- 2999/-

Supreme 29999/- 24999/-

Tester 100/- 1/-

Stepwise Process for Starting a Sole Proprietorship

Documents Required for Sole Proprietorship

Checklist to Start a Sole Proprietorship Firm

Single Ownership:

Simple Formation:

Full Control:

FAQs on Sole Proprietorship

FAQs on Sole Proprietorship

Get answers to all your queries

Who can be a Sole Proprietor?

What is the minimum capital required to start a Proprietorship Firm?

What documents are needed for opening a current account in the name of my Sole Proprietorship?

What if I wish to convert from Sole Proprietorship to a Private Limited Company or Limited Liability Partnership?

What compliance do I need to do once I register my firm as Sole Proprietorship?

Still, have confusion?

Client Testimonials We Are Rated 4.8 on Google

Basic

1499/- 1299/-

Elite

3999/- 2999/-

Supreme

29999/- 24999/-

Tester

100/- 1/-

Client Testimonials
We Are Rated 4.8 on Google