A “Sole Proprietorship” (single owner-owned business) is an unregistered business entity which is owned, managed and controlled by one person, i.e., the owner of the business. Proprietorship business is very easy to start with few registrations. Proprietorship business is advisable for small businesses that will remain small or have a limited period of existence for instance – a small eating place or grocery shop, retail shop, etc.
Government of India has not provided any mechanism for registration of proprietorship business. The very existence of a proprietorship business is established through your PAN, Shops & Commercial Establishments Registration, Trade License, and GST Registration.
Do you have any queries?
Contact us on firstname.lastname@example.org
This information is in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professional judgment. Mind Sync does not accept any responsibility for loss occasioned to any person acting or refraining from action as a result of any information provided herein. On any specific matter, reference should be made to the appropriate advisor.