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Simplest business structure with minimal compliance. Register your proprietorship online with TaxHint Advisors in just 7 days.
A proprietorship is the simplest and most popular business structure in India, owned and managed by a single individual. There's no legal distinction between the owner and the business, making it ideal for small businesses and freelancers.
The business is owned and controlled by one individual who receives all profits and bears all losses.
Fewer regulatory requirements compared to companies and LLPs, making it easier to maintain.
Get your business up and running in just 7-10 days with our expert assistance.
While there's no formal registration for proprietorship, these registrations establish your business legally
Proprietor's PAN serves as the business PAN
Mandatory if turnover exceeds ₹40L (₹20L for special states)
Optional but provides government benefits
Current account in proprietor's name for business
Minimal documentation needed to establish your proprietorship
Understand how proprietorship compares with other business structures
| Features | Proprietorship | Partnership | LLP | Company |
|---|---|---|---|---|
| Ownership | Sole Owner | Min 2 Partners | Designated Partners | Shareholders |
| Liability | Unlimited | Unlimited | Limited | Limited |
| Registration Time | 7-10 days | 10-15 days | 15-20 days | 10-15 days |
| Compliance | Low | Moderate | Moderate | High |
| Taxation | Owner's ITR | Partnership ITR | LLP ITR | Corporate Tax |
| Fundraising | Difficult | Moderate | Easier | Easiest |
Common queries about proprietorship registration
A proprietorship firm is a business owned and managed by a single individual where there is no legal distinction between the owner and the business entity. The proprietor bears all risks and receives all profits.
While there's no formal registration, you establish a proprietorship by obtaining necessary licenses and registrations like GST, MSME, Shop Act license, and opening a bank current account in the business name.
Yes, depending on the registrations obtained. Common compliances include income tax filing (ITR-3/ITR-4), GST returns (if registered), TDS filings (if applicable), and maintaining proper books of accounts.
No, there is no minimum capital requirement to start a proprietorship. You can begin with whatever capital you have available.
Yes, you can convert your proprietorship to a Private Limited Company or LLP when your business grows. This requires incorporation of a new entity and transfer of assets/liabilities.
Get expert assistance from TaxHint Advisors to register your proprietorship quickly and correctly.
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