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Proprietorship

Original price was: ₹2,500.00.Current price is: ₹1,599.00. (incl. of taxes)

Summary

We will provide:

  • GST Registration
  • UDYAM Registration

Documents Required for Proprietorship Firm: –

  • PAN card of the owner
  • Aadhar card of the owner
  • Photograph of the owner (in JPEG format, maximum size – 100 KB)
  • Bank account details*
  • Address proof**
Description

A proprietorship firm is a type of business that is owned and controlled by a single person. It is the simplest form of business structure in India. There is no separate legal entity for the business, and the owner is personally liable for all of the debts and obligations of the business.

Here are some of the key features of a proprietorship firm:

  • Ownership: A proprietorship firm is owned by a single person.
  • Liability: The owner of a proprietorship firm is personally liable for all of the debts and obligations of the business.
  • Taxation: The profits of a proprietorship firm are taxed as the income of the owner.
  • Formation: A proprietorship firm is relatively easy to form.
  • Management: A proprietorship firm is managed by the owner.

Here are some of the advantages of forming a proprietorship firm:

  • Ease of formation: Proprietorship firms are relatively easy to form.
  • Low cost: Proprietorship firms are relatively low-cost to operate.
  • Flexibility: Proprietorship firms are flexible and can be adapted to the needs of the owner.
  • Tax benefits: Proprietorship firms can benefit from certain tax breaks.

Here are some of the disadvantages of forming a proprietorship firm:

  • Limited capital: Proprietorship firms may have limited access to capital.
  • Personal liability: The owner of a proprietorship firm is personally liable for all of the debts and obligations of the business.
  • Lack of continuity: A proprietorship firm may not be able to continue to operate if the owner dies or becomes incapacitated.

If you are considering forming a proprietorship firm, you should carefully consider the advantages and disadvantages before making a decision.

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