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Proprietorship
Introduction
A proprietorship firm is the most traditional way of doing business. As the name suggests only an individual governs whole affair of this type of firm. There is no specific act at pan India level that governs such type of business.
Business Format Description
Business in proprietorship firms are carried by single individual only. All risk and rewards shall lie to him/her. Single registration under local laws (i.e. Municipal etc) shall be enough for kick start of its business.
Eligibility :
• Proprietors must have minimum age of 21.
• Persons with Sound Mental Health can start a company.
• Persons recognized as Insolvent by the court of law cannot be a Proprietor the
company, until such insolvency omits.
• Proprietor is capable of entering in any contract as per prevailing laws.
Required Documents
• PAN of Every Promotor/Proprietor/Managerial Personnel.
• AADHAR of Every Promotor/Proprietor/Managerial Personnel.
• Passport Size Photo of Every Promotor/Proprietor/Managerial Personnel.
• Digital Signature Certificate of Every Promotor/Proprietor/Managerial Personnel (Not Mandatory)
• Voter ID/ Driving License of Every Promotor/Proprietor/Managerial Personnel.
• Recent Utility bill as a address proof of the companies registered place of business.
• Rent Agreement / NOC by the Owner.
• Coloured Photo of Shop/establishment.
• Other ancillary documents(If required, as per the special nature of the company)
Benefit of a Particular Format:
Decision Making
Decision Making is faster in these type of businessess.
Tax Benefit
Individual tax slab is available.
Growth and Returns
Growth and return shall belong to one person eventually.
Compliance
Compliance burden is negligiable.
Transparency and Efficiency
Provides transparency and efficient working .
Secrecy
Provides transparency and efficient working .
Compliances
Financial Information remains confidential.
Decision Making
Decision Making is faster in these type of businessess.
Tax Benefit
Individual tax slab is available.
Growth and Returns
Growth and return shall belong to one person eventually.
Compliance
Compliance burden is negligiable.
Transparency and Efficiency
Provides transparency and efficient working .
Secrecy
Provides transparency and efficient working .
Compliances
Financial Information remains confidential.
Process :
- Applicant has to fill up the form for required incorporation services
- Stay Relax, our representative will connect with you at earliest
- Get your documents ready, Our executive will ask for the necessary forms/documents/deeds.
- Our executives will finally scrutinised the forms/documents/deeds provided by you.
- After valid scrutiny, our team will continue preparing necessary attechments required for E-Filing
- After submission of E-Forms,, approval will be granted by Registrar
- Congratutaion !! Your are ready to Kick Start your venture.