Proprietorship Firm

Ease of Formation

Starting at Rs.2753 /- + Service Tax

Want to Register "Proprietorship Firm"

Write to our advisors at info@msmehelpline.com or SMS “MSME” at 56161 for Proprietorship Firm. Our advisors will call you shortly.

Regular

Our regular package includes the followings:

Our regular package includes the followings:

  1. TAN Registration
  2. MSME Registration
Rs.2753/-

+ Service Tax

Premium

Our premium Package includes the followings:

Our premium Package includes the followings:

  1. TAN Registration
  2. MSME Registration
  3. Service Tax Registration
Rs.5066/-

+ Service Tax

About Proprietorship Firm

A proprietorship firm is owned, managed and controlled by an individual called proprietor.  Proprietorship is the easiest way to start the business and have minimal regulatory compliance.

For a Proprietorship Firm Registration, there is no separate registration required. Moreover, there is no procedure for obtaining name approval (as in the case of companies).  

There is no mechanism provided by the Government to form the proprietorship firm. Proprietorship may be start by just opening a bank account with the firm name and doing some Government Registration. There is no separate Income Tax PAN is required in the name of Proprietorship firm. The PAN of the proprietor will be the PAN of the firm and proprietor will have to file income tax return in his personal name.

Documents Required

  Latest Photographs
  PAN Card of Proprietor
  Voter Card / Passport / Aadhaar Card / Electricity Bill of Proprietor

Benefits of Proprietorship Firm

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. Instead, they will list business information and figures within their individual tax return. This can save additional costs on accounting and tax filing. The business will be taxed at the rates applied to personal income, not corporate tax rates.

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.

Frequently Asked Questions (FAQs)