Proprietorship Registration Bangalore
Welcome to TaxadvisorIndia, one of a leading tax and corporate legal consultants in Bangalore. Now you can register for Proprietorship online/offline in Bangalore, Karnataka.
Get your business registered as a Sole proprietorship with several add-on services.
A sole proprietorship is the easiest form of business in India. A proprietor safeguards the capital, establishes and operates the business, assumes all the risks, hence accepts all the profits and losses, and pays all the taxes.
Sole proprietorship registration process is simple and does not have excessive regulatory compliance requirement as compared to private limited or limited liability partnership firms.
Besides, registration of a sole proprietorship is completely optional for Indian businesses. But in order to open & maintain a bank account in the name of the business, few guidelines need to be followed. Registrations such as GST, Pan Card, or TDS registration may be required and a list of other relevant documents, which are termed as mandatory by a banker for opening a current account.
Since, there is no mechanism stipulated by the Government of India for the registration or incorporation of a Proprietorship, the existence of a proprietorship can be established only through tax and other business registrations.
Advantages of a Sole Proprietorship Company Registration
- Easy to form, no hassles
- Can be started within hours by just opening a current account
- Separate pan card is not required
- Minimum one person
- Can be closed on the will of the owner
- Ideal for small businesses like that of retail
- Minimal Compliance
- Easy to Start
- Relatively Inexpensive
Proprietor Company Formation Process
TaxAdvisorIndia can help startup a Proprietorship in 7 to 14 days, subject to Government processing time.
- Startup Consultation
- PAN Number
- Opening of a Current Bank Account(s)
- GST Registration
- MSME Registration
Minimum Requirements for registering a Sole Proprietorship
- Minimum One Person
- No Minimum Capital Required
- Pan of proprietor
- Address Proof of proprietor
- Proof of Registered Address
Document Requirements for Sole Proprietorship Firm
In India, we register the Proprietorship which is also called a Sole Proprietorship Firm or Company which is register under the Indian Proprietorship Act 1908. We require the following document to form a proprietorship firm or company.
- Two colour photos of the proprietor
- Pan card of the proprietor
- Address proof of the proprietor
- Rubber stamp of the proprietorship
- Signature on affidavits as declaration
At TaxAdvisorIndia, we can help you establish an identity for your Proprietorship by fulfilling all the relevant and mandatory registration requirements.