_edited.png)
SOLE PROPRIETORSHIP
This type of business is owned and managed by a single person. Being an entity in the unorganized business sector, this entity is not considered a separate legal entity which means it is not distinct and separate from its owner.
ADVANTAGES
Benefits of registering a Sole Proprietorship
Economical
The cost of owning a Proprietorship is very minimal considering the low set up and maintenance cost.
Minimum Compliances
Being a simple and the most basic form of business, the compliances involved are minimal. The compliances are limited to filing various tax returns.
Easy Setup
Since no specific registrations are required it is easy to set up a Sole Proprietorship. The Proprietor can start his/her business and receive payments from customers in no time.
DOCUMENTS REQUIRED
✓
✓
✓
✓
✓
✓
Passport Size Photo
PAN Card
Aadhar Card
Electricity Bill of the Office Address
E-mail ID
Mobile Number