What is Proprietorship Firm Registration?
A Sole Proprietorship is a corporation that is run, regulated and held by a single individual. It is one of India's most popular forms of business used by small businesses from the unorganized sector. Identification of the company's ownership can be done through various types of registrations, such as a GST dealer, MSME, etc.
Why choose Proprietorship?
1. Sole Proprietorship Company Registration is cheaper than OPC.
2. Employers with profits of less than Rs. 2 Lakhs per year are not required to pay income tax.
3. Easy to set up with fewer formalities.
4. No separate tax reporting. There is no separate corporate income tax filing. Business income and loss shall be declared on the personal tax return of the sole owner, and any tax shall be paid at the individual level.