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Udyam registration

Sole Proprietorship

Single owner who can take decisions and start his entrepreneurship career as per his desire, He can enjoy both sides of coin to test his chosen business.

proprietorship

Sole Proprietorship is a one-person business who possesses, manages and controls the business. While merchandising tax and legal liabilities of the owner and the business are one and the same. The proprietorship is not taxed as separate entity. Proprietor must remind that the earnings of the business are taxed at the individual level, which means no separate filing of income tax returns for their business. There is no vehicle for protecting proprietor's income. In proprietorship the individual's assets being covered as business holdings. Therefore, legal claimants can pursue the personal property of the proprietor and not simply the assets used in the business.

Pros

Easy to Start & flexible operation
Simple Registration
Sole authority
Less Compliance
Insolvent in Nature

cons

Unlimited Liability
Limited Capital
Company name cannot be registered

required documents

Individual PAN & Aadhar Card
Company Name

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