Proprietorship Firm Registration In Bangalore

A sole proprietorship (sole tradership, individual entrepreneurship, or proprietorship) is an enterprise owned and run by one person. The owner has to pay the taxes on the income from the business as personal income tax payments.

MKDA is a fast-growing firm for company registration services in Bangalore. We provide the Pvt.Ltd., LLP, Individual Company Registration, and much more. We provide hassle-free assistance that you need in obtaining your proprietorship firm registration in Bangalore.

Ease of formation: Ease of formation: It is less complicated and cheaper to start. The owner will conduct all tasks of the formal corporate body. In some states, sole proprietorships can be formed without the double taxation standards applicable in most corporations. The business can be given any name.

Tax benefits: The owner of a sole proprietorship need not file a separate tax report for his business. They must list business information and figures within their tax return and be taxed at the rates applicable to their income. Thus they can save additional costs on accounting and tax filing. It is less tax compliance.

Employment: The owner of the Sole proprietorship can employ people and can be benefited from tax breaks. The spouses of the business owner can be employed without having to be formally declared as an employee.

Decision making: Control over all business decisions is in the hands of the owner. The owner can also fully transfer the sole proprietorship at any time as they deem necessary.

• A resident of India should start the proprietorship firm
• Choose a business name and decide on a location to start the business.
• No capital amount is required; a minimum investment is required.

• Aadhar card
• PAN card
• Bank account
• Registered office proof

• Registering as SME
• Shop and Establishment Act license
• GST registration

• Send your details and Upload Your Document with MKDA.
• Make an Online Payment.
• We assign you a manager who will assist you with your requirements.
• We collect the documents and submit them to the appropriate authority.
• Once your proprietorship Firm is incorporated, we will send your incorporation certificate.

• Single Ownership. No one else will be involved as an owner.
• The formation of a Business is very easy. It requires very few documents.
• Low Capital investment.
• The owner will conduct all tasks.
• The whole risk of the entity is liable to the owner.
• The owner will entitle profit/Loss.
• The owner is not separate from the business activities.
• The stability of the Proprietorship is not certain because, at any time, the business may wind up due to the loss or death of the owner.
• It doesn't have any separate law to govern it.
• PAN of the Proprietor and Proprietorship are the same.
• They cannot raise equity funds from Angel Investors, Venture capital, and private equity funds.
• To avail a loan from the banks, the Proprietor is required to pledge his own property.
• Banks have a restriction on the amount of money that they can lend to the Sole Proprietorship business.