A sole proprietorship, also recognized as the single trader or merely a proprietorship, is a form of business company held and controlled by one person, and where there is no legal difference between the owner and the corporation. A sole proprietorship is a corporation held, run and operated by one individual only. It is one of India's most popular industry models, used by small enterprises working in the unorganized sectors.
Proprietorships are very quick to get going, and need very limited legislative enforcement to get going. However, during the startup process, proprietorships do not provide a number of other advantages to the owner, such as limited liability, separate legal organization, autonomous life, transferability, etc., which are attractive characteristics for any company. Proprietorships therefore are ideal for independent, unorganized companies with minimal presence
There is no process for registration or establishment of a Proprietorship given by the Government of India. Hence, the presence of a proprietorship is only defined by tax registers and other company registers that a proprietorship is expected to have in compliance with the laws and regulations. At Muhammad & Associates we will support you by acquiring the necessary registrations to create an identity for your proprietorship.
