FincomIndia

Proprietorship

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of enterprise that is owned and run by one natural person and in which there is no legal distinction between the owner and the business entity.
From Rs 1,999/- Inc. of all taxes

A Sole Proprietorship is an unregistered firm that is owned and run by an individual person. The sole proprietorship is not a legal entity. It’s simply mentioned to a person who owns the business and personally liable for all business claims.

Initially a sole proprietorship is enormously simple and doesn’t require a formal filing or paperwork process. A sole proprietorship has no individual identity under the law, they need to register his or her name and secure local licenses. A sole proprietorship is indistinguishable from its owner taxation is quite simple it means that any profit you gain through your sole proprietorship is also counted as personal income.

Sole proprietors are the inexpensive business type when it comes to operational and other costs. A sole proprietorship has no individual identity under the law; Also Owner can establish this business immediately, easily and reasonably. They can carry little, if any, ongoing procedures. A sole proprietorship may freely mix business and personal stuffs. One of the tremendous features of a sole proprietorship is the simplicity of configuration.

Salient Features of Proprietorship

Ease of starting

Easy setup is one of the main characteristics of a sole proprietorship. Independent business entities, such as corporations and LLCs, must file business formation paperwork with a state agency before operating.

Secracy

There are many factors behind the success of business like production techniques, sales, marketing and distribution strategies etc. The secrecy of business factors are very important in order to remain competitive in the market.

Business Ownership

Being one man show the sole owner manages and controls all the affairs of the business independently, without the interference of any other person. He is the planner policies and decision maker for the success of his business.

 No legal entity

A sole proprietorship has no legal identity separate from that of its owner. The law makes no distinction between the proprietor and his business. The business and the owner exist together. If the owner dies or becomes insolvent the business is dissolved. Business and the proprietor are one and the same.

Income Taxes

A sole proprietorship is distinct in the way the owner pays federal taxes on business income. Instead of filing a separate annual tax return to report business income and expenses, a sole proprietor reports these amounts on Schedule C of his personal income tax return.

Capital contribution

In this form of business organization, the capital is contributed by the sole proprietor from his own resources. If he requires more finance, it may be borrowed from his friends and relatives.

Unlimited liability

The proprietor is personally liable for all the debts of the business. In case the assets are insufficient to meet its debts, the personal property of the proprietor can be attached.

Equity Investment

Another primary characteristic of a proprietorship that is not always obvious to new business owners is the inability to raise money and resources for the business by selling equity.

No profit-sharing

The sole proprietor alone is entitled to all the profits and losses of business. He bears the complete risk and there is nobody to share the profits or losses.

Transparent And Competitive Pricing

BASIC STANDARD PREMIUM
Proprietorship
TAN Registration
GST Registration
MSME Registration
Trademark Registration
Rs. 2,500
Rs. 1,999
Inc. all taxes
Rs. 7,500
Rs. 6,499
Inc. all taxes
Rs. 14,500
Rs. 12,999
Inc. all taxes
Delivery Process

1. Order Confirmation

Once you confirm the order online one of our executives will get in touch with you to explain all the requirements.

2. Submission Of Documents

We have a facility to pick up documents from your door step at more than 6000 Pin Codes across India. As soon as your documents are ready, we will pick it up from your door step at a date and time as per your convenience.

3. Applying for Certificate

Once we will receive your all required documents we will forward the documents in various departments for preparing and filing then after liasioning with the Government officials. after that you will get the Certificate of Registration.

4. Hurray......It's Done

You will get certification from the Government after the approval as well as you will receive the confirmation email with our dedicated team member details Instantly on your email to start your work.

Frequently Asked Questions
Unlike corporations, sole proprietorships are not treated separately by the IRS. This means that any profit derived from your sole proprietorship is treated as your personal income and is accounted for on your individual tax return. Any such income is taxed to you in the year it was received.
Disadvantages of sole proprietorship. The main disadvantage of sole proprietorship is the owner's personal liability for all debts incurred by the business. Creditors may come after an owner's personal assets if a small business is unable to cover debts. Sole proprietors may have difficulty obtaining business loans. And the major benefit of a sole proprietorship as a legal business entity is its simplicity. Inc. magazine notes that a sole proprietorship is the simplest form of business structure. Sole proprietorship usually require very little paperwork or legal documentation.
The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.
There are some distinct differences between a sole proprietorship, Partnership and corporation. sole proprietorship is the simplest business form and is not legal entity. In fact, a sole proprietor's assets can be and often are used to satisfy the debts and liabilities of the business.
Following documents are required for firm registration: (1) Cancelled cheque. (2) Rent Agreement (3) Address Proof (Updated Bank Statement, Mobile bill, Telephone bill, Telephone Bill, Electricity Bill if submitted, should not be older than two months.
The entire assignment will be completed in around 5-10 working days subject to the timely availability of the documents & information from the client’s end.

Our Presence

Check Availablity in your area

FinComIndia has capability to serve at your door step at more than 6000 Pin Codes across. You have the opportunity to avail our world class services sitting at your home or office itself. This service is free of cost for all the customers. We practically cover the whole of India. Kindly check in the box above for availability of door step services in your city.

Reasons to choose FinComIndia?

PROFESSIONAL EXPERTISE

FinComIndia has a team consisting of more than 75 experts of varied domains which enables us to deliver high quality of services. All our staff is well trained and regularly updated with all relevant statutory changes.

DOOR STEP SERVICES

We pick up all the required documents right from your door step at your preferred time and date and also deliver back the original documents / certificates to your address.

NATION WIDE REACH

We have capability of providing our services across more than 6000 Pin Codes in India. This makes us the front runner in Nation wide reach.

BEST PRICE

We are upfront with our pricing with no hidden fees, Also lowest pricing through automation and technology.

Money Back Guarantee

If you are not satisfied with our work, we will refund the money after deducting the statutory fees paid and other administrative charges.

100% Customer Satisfaction

With our quality of services and professional expertise, we guarantee 100% customer satisfaction.

Giving Back to the Society

In our endeavour to give back to the society, we donate 1% of our profits to various charitable and environmental causes.