Proprietorship Registration

Listing ID #1546479

A sole proprietorship, also known as a sole trader or simply a proprietorship, is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. This means that the owner has no less liability than if they were acting as an individual instead of as a business. It is a "sole" proprietorship in contrast with partnerships. The proprietorship does not require any specific registration under law,
The income tax assessment is done in the name of the proprietor and hence it get clubbed with other incomes of the proprietor. from tax planning point a proprietorship firm is advisable when the organization is very small and employs very less number of workers.
Other Registrations which a Proprietorship can obtain based on its requirement are :
Shop & Commercial Establishment Registration
VATSales Tax Registration
Central Sales Tax Registration
Service Tax Registration
TAN
We provide consultancy and assistance in obtaining various registrations for a proprietorship concern and subsequently help them to comply with the requirements and conditions of that registration.