Proprietorship Firm Registration

Proprietorship Firm Registration

Overview

Proprietorship firms are considered individuals owning businesses. There is no distinction between the owner and the business entity.

Proprietorship is a single-person establishment wherein an individual owns, manages, controls, implements and executes their business on their own. Since it is not majorly governed by any law, it becomes the easiest form of doing business in India.

It is not mandatory to register as a sole proprietorship, but to gain tax benefits and open a current account, people do register their firms through GST, Udyam, Shop & Establishment and/or Professional Tax.

Fintrix Advisory helps you with all formalities, our advisors will give solutions to your queries regarding Proprietorship Firm registration and help you make decisions easily.

Simple Pricing With Deliverables

Basic (No GST)

₹1,999

Time Line : 2–5 days

  • Any 2 of the following registrations:
  • Professional Tax
  • Shop & Establishment
  • Udyam Aadhaar
  • CA Certificate

GST Included

₹3,499

Time Line : 7–10 days

  • GST Registration
  • Udyam Registration
  • Confirm with banker on accepted documents

Our Process

For Proprietorship

01

Step 1

Identify Required Registrations

Confirm with your banker which registration(s) they accept to open a current account.

02

Step 2

Collect KYC Documents

PAN, Aadhaar, photograph, mobile, bank details of proprietor.

03

Step 3

Apply for Registrations

GST, Udyam, Shop & Establishment, or Professional Tax, whichever are needed.

04

Step 4

Receive Certificates

Get registration certificates and use them to open the current account.

Documents & Information Required

For Proprietorship

Individual Details

  • Name and address of proprietor
  • Mobile number
  • Photograph
  • PAN Card of proprietor
  • Aadhaar Card of proprietor
  • Bank account of proprietor

Features

of Proprietorship

Less Expensive

Economical to start, can begin with very little capital.

Smooth Start

No elaborate registration process. A proprietorship firm uses the owner's legal identity, so there is no need to register the firm separately unless required.

Undivided Profits

Since there is only one owner, all profits accumulate with the proprietor, no profit-sharing or conflicts.

Tax Advantage at Small Scale

A sole proprietor is not liable to pay income tax if profits are below ₹2.5 lakh per year, allowing the business to start small and save on taxes.

Frequently Asked Questions

There is no single government registration for a proprietorship. Existence is established through tax registrations and business registrations that the firm needs to operate. Banks typically accept the following while opening a current account:

  • •GST registration (accepted by most banks).
  • •Shop & Establishment certificate, or intimation letter for under-10-employee setups.
  • •Professional Tax registration.
  • •Udyam (MSME) registration.
  • •CA-issued certificate of existence.

It's worth confirming the exact list with your banker before applying so we register the right combination the first time.

Ready to get started?

Get in touch with our team. We'll walk you through the process, the documents, and the pricing, no obligation.

Call +91 90041 66909

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