Proprietorship | Planify Solutions

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business.

Services Included:

Sevice tax Registration
Delhi Sales tax Vat Registration / UP vat Registration

Documents Required

PAN of of Applicant
Address proof of Applicant (Voter id/Passport/Driving license/Aadhar card)
Cancelled Cheque of Bank Account
Registered office address proof ( Electricity bill & Rent agreement or Ownership Proof & NOC)
Four photographs of Applicant
Rubber Stamp of the firm

Process Involved:

Documentation

Provide the documents to initiate the process.

Suggestion

We advise you the way to register your proprietorship firm based on the nature of business, either Service tax registration or Vat registration.

Service Tax Registration

After receiving the required documents, we initiate the process for ST registration.

VAT registration

If VAT is applicable, we initiate the process for VAT registration.

Bank Account

With the help of registration papers, you can open bank account and start your business.

Frequently Asked Questions

What is Sole Proprietorship?

The sole proprietorship is the simplest business form under which one can operate a business.
The sole proprietorship is a popular business form due to its simplicity, ease of setup, and nominal cost. A sole proprietor need only register his or her name and secure local licenses, and the sole proprietor is ready for business.

What are the Advantages of a sole proprietorship?

Owners can establish a sole proprietorship instantly, easily and inexpensively
Sole proprietorships carry little, if any, ongoing formalities
A sole proprietor need not pay unemployment tax on himself or herself (although he or she must pay unemployment tax on employees)
Owners may freely mix business or personal assets.

What are the Disadvantages of a sole proprietorship?

Owners are subject to unlimited personal liability for the debts, losses and liabilities of the business
Owners cannot raise capital by selling an interest in the business
Sole proprietorships rarely survive the death or incapacity of their owners and so do not retain value.

Proprietorship Registration