Proprietorship
Shlok Tax Wala is a premier service provider dedicated to streamlining the filing process, making it intelligent, straightforward, and cost-effective. Our mission is to facilitate the growth of your business and enhance its value through our specialized knowledge. Trust us to expedite your company registration within an impressive timeframe of just 7 days.
Begin Your Business Journey with Assistance from Top-Rated Professionals at Shlok Tax Wala.
The Sole Proprietorship is the simplest business form under which one person 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. A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name, such as Fancy’s Salon. The fictitious name is simply a trade name–it does not create a legal entity separate from the sole proprietor. The sole proprietorship is a popular business form due to its simplicity, ease of setup, and nominal cost. A sole proprietor need only register his or her name and secure local licenses, and the sole proprietor is ready for business. At Shlok Tax Wala, we provide quick partnership registration services that ensure complete compliance within a short span of 2 days. You can contact our experts for gaining more knowledge on Partnership registration.
Choose Proprietorship because
Immediate, effortless, and cost-effective establishment Reduced formalities Owners can freely intermingle business and personal assets Minimal compliance requirements Straightforward initiation process Simple dissolution procedures No mandatory audit
Papers & forms Required
#1 Identity Proof (i.e. PAN)
#2 Address Proof
#3 Proof of Nationality for Foreign Nationals
#4 Latest Electricity bill, telephone bill & Bank statement of partners
#5 Passport size photo
#6 Specimen Signature
#7 If property on rent, then rent agreement with NOC from landlord
#8 Bank Account
Recommended Registrations for Smooth functioning of Proprietorship Firm
#1 MSME Registration
#2 TAN Registration
#3 GST registration
#4 GST registration
#5 Shop and Establishment Act License
Registration Process
Frequently Asked Questions
You can easily obtain it through our expert services, typically completed within 2-5 days. All you need to do is fill out a brief 10-minute questionnaire on our website.
Shlok Tax Wala will understand your business requirements and guide you to obtain various relevant registration.
The proprietor must be Indian citizen and Resident of India.
There is no limit on the minimum capital for starting a partnership. You can start with any amount of minimum capital.
Reserve Bank of India mandates that a proprietorship must have any of below two registration to open a bank account along with PAN card, Identity Proof and Address Proof of the Proprietor.
- MSME Registration
- Shop & Establishment Act Registration
- Professional License
- Chartered Accountant Certificate
Yes, however it is always advisable to open the LLP or partnership in case the scale of business is large to avoid later cost of compliances and registration.
We have various packages available starting at INR 2,000/- to carry out the registration process.
No, Proprietorship and a proprietor are considered as one legally and hence assets and liabilities of the business and the proprietor will also be one and the same.
No, Proprietorship firm cannot be transferred unlike partnership or a private limited company, but you can transfer assets of proprietorship firm to another person. However, registration licenses are not transferrable.
No, this is completely online process. All papers and forms will get filled electronically. You just need to send us scanned copy. Some papers and forms will also have to be couriered to our office.
It will not take longer than 2 days subject to the availability of the papers and forms.
No, proprietorship firm do not have a certificate of incorporation. The identity of proprietorship firm is determined by way of various registration under government authority like MSME.