Contact Us
Start your business individually within 1 day
No registration required
Low cost, simple and ease
Proprietorship Firm
Proprietorship firm is most popular, common & convenient form of organisation to start and run business in India. An individual can start a proprietorship firm in a single day. Any name can be taken unless & until it is undesirable and permitted by law.
Proprietorship firm is neither regulated by any law nor registered anywhere. However, the incidental laws, rules & regulations applicable to a business-like income tax act,GST, food licenses or any other need to adhered. There is no requirement to obtain separate pan card for firm & individual pan card is valid in furtherance of business. Proprietorship firm are suitable & opted by small individual entrepreneur.
However, with introduction of One Person Company which is registered entity with limited liability, a new door has been opened for small businesses as it provides a corporate identity.
Advantage & Benefit of registered Partnership Firm
Easy & Convenient to Start
No approval for Name: Proprietorship firm can take any name unless & until its undesirable & prevented by law.
Less compliance: No annual filing required.
Tax relief: Basic threshold exemption & slab rate as per income tax applicable
Convenient to Shut Down: Since, its unregistered there is no prescribed procedure to close or wind up the business.
Compare Options
| Basis | Private Limited Company | Limited Liability Partnership | One Person Company | Partnership Firm | Sole Proprietorship |
|---|---|---|---|---|---|
| Suitable For | Start-ups | Professional firms | Individual promoters | Family businesses | Small Businesses |
| Investors | Attractive | Less Attractive | Not preferable | Unlikely | No way |
| Limited Liability | Yes | Yes | Yes | No | No |
| Taxation Benefits | Certain benefits | Efficient | benefits | Lowest | Lowest |
| Constant Existence | Yes | Yes | Yes | No | No |
| Compliance Applicability | High | Low | High | Minimal | Minimal |
Process to start Proprietorship Firm
Package & Pricing
Private Limited Company
- COI
- MOA & AOA
- PAN & TAN
- DSC – 2
- DIN – 2
- SHARE CERTIFICATES
- FIRST BOARD RESOLUTION
- GSTIN
GST , MSME & TM
- GSTIN
- GST Invoice Format
- GST e-way bill Registration
- Free GST Consultancy
- MSME Registration
- Trademark
- IEC
- DSC
Startup Annual Compliance
- Financial Statement
- Audit Report
- ITR
- GST Return
- ROC Annual Return
- Consultancy
- ITR for 2 Promoters
- *Package subject to Turnover
ITR for small business
- Financial Statement
- ITR
- Consultancy
- Refund Tracking Status
- House Property Income Covered
- Capita Gain Income Covered
- Interest Income Covered
- *Package subject to Turnover
