A sole proprietorship is a type of enterprise that is owned and run by one natural person and in which there is no legal distinction between the owner and the business entity. The owner is in direct control of all elements and is legally accountable for all the liabilities of such business and this may include debts, loans, loss, etc. Some of its beneficial features are:-

Easy Establishment
It is one of the easiest form of business entity to start with minimal formalities. However, after starting up a Proprietorship, it is relatively harder to open a bank account or obtain a payment gateway in the name of the business - since more registrations like VAT or Service Tax or GST Registration may be required.

Own Funds
They can invest their own capital into the business, or may be able to access business loans and/or overdrafts.

Tax Benefit
Proprietorship with less than Rs. 3 lakhs of income is not required to pay any income tax, as proprietorship's are taxed as the individual owing the business. However, unlike a company or LLP, a proprietorship cannot enjoy some of the tax deductions, which could potentially increase the tax liability.
Entities Registration
Proprietorship
Partnership
Limited Liability Partnership
Company
Services
Corporate Advisory
Insolvency & Bankruptcy
NBFC Advisory
Secretarial Audit
Merger and Acquisition
One Person Company(OPC)
Private Limited Company
Public Limited Company
Nidhi Company
Producer Company
Section 8 Company
ESI Registration
GST Registration
Import Export Code
MSME Registration
Shops & Establishment Act
Business Plan
CMA Report
Credit Rating
Debt Equity
Term Loan
Working Capital Loan
Compliance Management
Patent
Trade Mark
Copyright
Copyright © 2012 www.armsandassociates.com. All Rights Reserved. Designed by Creative Synergy.