Sole proprietorship Registration
All the small business focus to attain a sole proprietorship registration in an easy way, We Smart Auditor helps to resolve all the registration issues in around Trichy, Salem and Erode. Sole the name refers what it means. It is an unregistered business type managed by a single person. He is able to control and own the registered premise. Most of the people who are having small and medium business in India are capable of registering such types of business. Those business entities are having very minimal regulatory compliance for operation and implementations. But after it gets start, the proprietorship do not offer the below advantages to its promoters. The advantages include limited liability proprietorship, corporate status, separate legal entity, self-governing existence, transferability, continuous succession etc.
Thus the proprietorship formation is only suitable for the business which is small and medium in size and has a limited period of existence. There are no registration aspects for such kind of entities. The proprietorship can be established through tax registration as per the rules and regulations.
We can obtain the VAT or service Tax or GST in the name of proprietor to establish that the proprietor is working the business as sole proprietorship. All the registration process should be mention and carry in the name of the proprietor. Through this way we can modulate all the liabilities of the proprietorship in the head of the proprietor. The average time taken for a proprietorship registration via Smart Auditor is 3-5 days. Smart Auditor is the business service provider and consultant who help all types of business magnets to register their business in various fields. We offer all types of company registrations and IPR Services with affordable cost and time. Time is important and has to save in all aspects. Smart Auditor knows the value of time and they looking forward to minimize the time in all directions. We also offer our services around Madurai, Erode and Trichy. You can contact us at any time when the questions strikes.
Documents required for Sole proprietorship registration
- PAN card of the promoter (Self attested copy)
- Aadhaar card copy of the Proprietor(Self attested copy)
- Bank Details (Savings and current bank account)
Advantages of Sole proprietorship registration
Opportunity to become the boss
Sole proprietorship means you are your own boss. You have the full rights to decide what to do and how to operate. The owner does not need to take any orders or need not to report anyone. There is no intrusion from any third party. There are no compliance and disclosure requirements when compared with whole financial year. Government intrusions are very less compared to other business forms.
Getting whole profit
You will get all the share of the profit. Because the proprietor is the only owner for the business and thus he will gets all the profits. The business assets are treated as the asset of the proprietor and re back. He is aware of when to withdraw and update the shares and profits.
Easy to Begin
The sole proprietorship business is easy to start and implement when compared with other business entities. There are no specific requirements for the registration process and the cost for the incorporation charge comparatively less. The back bone of the business is the proprietor. He can run the business in his name and take the liabilities in his own personal risks.
The proprietorship business is not taking for income tax purposes. Each individual’s income is applicable to the income of business. The tax rates are low when compared with other entities. The deduction of tax is an added advantage with ITR for individual and the business.