Sole Proprietorship

Proprietorship might just be the most flexible form of business anyone can own .All you got to do is Just Get Set Go !

Prices start at
INR 2500 /- only.

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Let's make sure you're on the right track as you kickstart your business journey as a proprietor in India

Here are some key things to keep in mind:

Dos:

1.Choose a Unique Business Name
Pick a name that’s distinct and not already in use by another business. It’s crucial for building
your brand identity.

2.Register Your Business
While it’s not mandatory for sole proprietorships to register, it’s a good
idea to obtain the necessary licenses and permits based on your business activities.

3.Keep Track of Finances
Maintain accurate records of your income and expenses. This will help you
stay organized for tax purposes and monitor your business’s financial health.

4.Stay Compliant
Familiarize yourself with the relevant laws and regulations governing your
industry. Ensure compliance with tax obligations, labor laws, and any other applicable regulations.

Don’t:

1.Mix Personal and Business Finances
Keep your personal and business finances separate. Avoid using
your business funds for personal expenses, and vice versa.

2.Ignore Tax Obligations
Stay on top of your tax obligations and deadlines. Failure to do so can
lead to penalties and legal issues.

3.Neglect Legal Documentation
Even though you’re a sole proprietor, it’s important to have contracts
and agreements in writing. This helps clarify expectations and protects your interests in business
transactions.

Remember, starting a business as a proprietor in India can be rewarding, but it requires careful planning and execution.

Registrations you might need as you grow

As a sole proprietor in India, there are certain statutory compliances that you need to adhere to excluding some exceptional cases, here are some of them to refer to:

Goods and Services Tax (GST)

If your annual turnover exceeds the prescribed threshold (currently INR 40 lakhs for most states), you should register for GST. This includes obtaining a GST Identification Number (GSTIN) and filing regular GST returns.

Income Tax

As a sole proprietor, you are responsible for filing your personal income tax return (Form ITR-3) including the income earned from your business and maintaining proper accounting records and supporting documents for tax purposes.

Tax Deducted at Source (TDS)

If your business is subject to TDS provisions, you need to deduct TDS from payments made to contractors, professionals, or other parties and issue TDS certificates to them.

Professional Tax

Some states in India levy professional tax. As a sole proprietor, you may need to register for professional tax and make periodic payments as per the state’s rules and rates.

Licenses and Permits

Depending on the nature of your business, you may require specific licenses from regulatory authorities.

MSME-UDYAM Registartion

For Micro, Small & Medium scale business owners , Government of India offers certain benefits and exemption. To avail the same ensure to get your business gets registered as an MSME

Key Features of Sole Proprietorship Registration

Ownership

In a sole proprietorship, the business is owned and operated by a single individual. The proprietor has complete control over the business and makes all the decisions.

Easy Formation

Setting up a sole proprietorship registration in India. Only in some cases, you may need to obtain licenses or permits from relevant authorities.

Unlimited Liability

The proprietor’s personal assets can be used to settle business debts and obligations. In case of financial difficulties or legal claims against the business, the proprietor’s personal wealth is at risk.

FAQs On Sole Proprietorship Registration

Get answers to all your queries

Clearbiz will guide you through the process step by step . Dream of setting up your sole proprietorship is just a call away . Contact Clearbiz now

There is no single statute governing a sole proprietorship . Requirement of registration under each law becomes manadatory upon reaching applicable threshold og business While registration is not mandatory, it offers several benefits, including legal recognition and credibility among stakeholders

CLearbiz will share a comprehensive list of required documents to ensure a smooth registration process once we conduct an initial evaluation of your requirements

That’s our promise to keep! CLearbiz will handle the entire registration process online, saving you time and effort. While your can focus on core value adding activities of your business

We'll explain the key differences between these business structures, helping you choose the right option for your needs. All set to take the leap towards sole proprietorship registration in Kerala? Get in touch with us today to get started on your entrepreneurial journey!

Start Your Sole Proprietorship Registration In Kerala Today!

Are you ready to kickstart your entrepreneurial journey? Let Clearbiz handhold you to the world of business proprietorship . Understand the benefits of running a sole proprietorship business, entrust the process with team clearbiz, and get ready to embark on a successful business journey

Benefits of sole proprietorship registration

Running your own business can be one of the most liberating experiences in the world. In a sole proprietary form of business, you are your own Boss. Unlike in a company or LLP form of business, there is no other person a sole proprietor owner is answerable to. Also, there are several waivers and rebates offered to sole proprietor under statutes such as income tax tax and GST

How Can Clearbiz Help You Register Your Sole Proprietorship in Kerala:

Let’s break down the registration process into simple and easy to understand steps:

1. Initial Consultation: The first step is to understand your requirements better by understanding your unique business.For this an initial discussion is held to get things straight .We’ll sit down with you to understand your business goals and tailor our services to meet your unique needs.

2. Document Collection :The Clearbiz team will gather all the necessary documents required for your sole proprietorship registration, ensuring a smooth and hassle-free process. For this we will share with you a comprehensive checklist consisting of all the right questions and a complete list of necessary documents

3.Online Registration: Now sit back and relax , while our expert team handle the entire process efficiently and effectively, saving you time and effort. All digital all online

4.Post-Registration Support: Once your sole proprietorship is registered and running Clearbiz will ensure timely guidance on essential tasks such as opening a business bank account basic accounting practices and periodic compliance requirements your business are informed.

What You Get with Our Sole Proprietorship Registration Service:

1.Successful online registration of your sole proprietorship: Unlike a private Limited company registration or LLP registration, a sole proprietor does not have just a single law to get registered under it is guided by all laws. He/She have to get registered separately under the income tax act ,GSTMSME act etc. This might be a challenging task Entrusting the services with Clearbiz, saves you the headache of navigating the process alone.

2. Expert assistance on opening a business bank account,
Clearbiz with its expertise and vast experience will help you ensure your business has the right financial infrastructure in place to hit the ground running.
A clear and detailed consultation of basic bookkeeping practices for sole proprietorships will be provided empowering you to manage your business finances with confidence.

Additional Registrations in Sole Proprietorship Kerala:

Take your business to the next level with additional registrations such as GST registration, trademark registration, MSME registration, and FSSAI license

Documents Required for a Sole Proprietorship:

To get your business started and running, you’ll need to share a few essential documents. These include identification proofs (Voter’s ID /Aaadhar), address proofs (Passport copy, Bank statements , Utility Bils), PAN Card and business-specific documents, depending on your business’s industry and location.

Why Choose Us for Sole Proprietorship Registration in Kerala?

Here is why you can entrust your sole proprietorship registration with Clear biz

Fast and Efficient: Our streamlined process ensures a seamless registration process, We will ensure your proprietorship is up and running in minimum time

Expert Guidance: Clearbiz consists of a team of professionals including expert chartered accountants , qualified company secretaries accomplished lawyers etc who will handle all the complexities of business registration with ease .This ensure a stressfree and effortless experience for your business registration

Compliance Ensured: We are committed to adhere with all statutory requirements of running a business, keeping you on the right side of the law is our promise

Additional Support: Our realm of services does not end just with sole proprietorship registration; we offer all types of business support services and assistance .This can be as simple as guidance on opening a bank account or assisting you with day-to-day bookkeeping.