Proprietorship

A sole proprietorship (also known as individual entrepreneurship, sole trader, or simply proprietorship) is a type of an unincorporated entity that is owned by one individual only. It is the simplest legal form of a business entity.

Benefits of a Sole Proprietorship:

• The owner or proprietor is in complete control of business decisions.
• The income generated through operations can be directed into the proprietor’s pocket or reinvested as he or she sees fit.
• Profits flow directly to the proprietor’s personal tax return; they are not subject to a second level of taxation. In others words, profits from the business will not be taxed at the business level.
• The business can be dissolved as easily and informally as it was begun.

What documents are required for registering a proprietorship in India?
The entire process for proprietorship registration can be completed online. You will just have to upload the following documents:

1. Identity Proof - Aadhar & PAN Card
2. Email Address and Mobile Number
3. Required Business Name
4. Address Proof - Latest Utility Bill, Sale Deed or Rent Agreement with NOC
5. Passport size photos
6. Nature of Business(Goods/Services)