Sole Proprietorship Registration in Madurai

Be your Own Boss! Be a Sole Proprietor!

Get your Sole Proprietorship Registration in Madurai!

ALLOW US TO DO SOME BASIC REGISTRATIONS WHILE YOU SIT BACK AND RELAX! All at a  discounted price of Rs.3000 Rs. 1800*

Limited Time Offer!

Dedicated Expert to process your Registration! 100 % Online!

*Prices are inclusive of taxes.

Customer Rating
4.7/5

Sole Proprietorship Registration in Madurai

Sole Proprietorship registration in Madurai is a form of business in which a single person can carry on a business wherein the identity of the business and the person are not different from each other, i.e., there will be no separate Legal entity for the business. Unlike other forms of Business there will not be any separate registration of the Business entity. The PAN of the Individual shall be taken as the PAN of the Business and no separate Pan for the Business entity shall be required.

What are the steps required to set up a Proprietorship firm in Madurai?

Advantages of a Sole Proprietorship registration in Madurai

Independence

In a Sole Proprietorship firm the Proprietor, i.e., the Individual carrying on the business has sole independence in vision, strategy and action for the Business. You get to be your own Boss.

Less Set up Cost

There is very little cost involved in the setting up of a Sole Proprietorship Firm compared to other forms of Business entity such as a Private Limited Company or One Person Company.

Very low Compliance Procedures

There are hardly any compliance procedures, unlike a One person company or other forms of Business entities that include Annual ROC Compliances and Compulsory Audits by Chartered Accountants irrespective of Turnover.

Highly Tax beneficial

Unlike Registered Companies where a flat rate of tax is applicable irrespective of the profits made, the Sole Proprietor is taxed at the Individual tax slab which is comparatively highly beneficial for Proprietors of small business. The proprietor can also make use of presumpmtive taxation.

Disadvantages of a Sole Proprietorship

No Limited Liability

A Sole Proprietor does not enjoy limited liability meaning that there is no legal protection that prevents him from being held personally responsible for the Business’s debts or financial losses, hence his personal assets are not protected as compared to other forms of business where the Shareholder or owner’s funds are liable only up to their contribution or capital.

Difficulty raising Funds

It is highly difficult to obtain loans or other forms of credits from bank or financial Institutions for a Sole Proprietorship. A private Limited Company shall be the best form of business when there are plans to approach lenders to grow the business.

No Perpetual succession

On the death or incapacity of the Proprietor the business will not continue to exist since there is no separate legal identity for the business but both the Proprietor and the business are considered as one in the eyes of law. Pvt Ltd Companies, OPC and LLPs enjoy the status of separate legal entity hence continue to exist even on death, incapacity or change of the members or shareholders of the organization.

Documents required for Sole Proprietorship Registration

Documents of the Individual

Documents of the office

Note:

  • The Name and address in the Residential proofs of directors and Office proofs should be clear and complete.

How to Register Proprietorship Firm in Madurai

1. Get Started

  1. Purchase our Proprietorship package
  2. Make your payment through our secured gateway
  3. Our Expert will connect with you and receive all documents

2. Sole Proprietorship Registration Procedure

  1. Designated expert interaction
  2. Verification of all documents submitted
  3. Filing application for MSME Certificate
  4. Application for TAN Allotment
  5. Application for GST Registration

3. Business is Incorporated

7 days is all it takes to get Sole Proprietorship Registration*

*From date of receiving complete set of documents and details and subject to government portal downtime.

What do you get in a Sole Proprietorship registration?

GST Registration

MSME Registration

TAN

Different Forms of Business

Features of a Company

  • Minimum number of members
  • Liability
  • Compliance Procedures
  • Raising Capital
  • Tax Advantages

Sole Proprietorship

3000
1800
  • 1 member
  • Unlimited
  • Low compliances
  • Difficult to raise capital
  • Beneficial

One Person Company

10000
7250
  • 1 member
  • Limited liability
  • Moderate compliances
  • Difficult to raise capital
  • Few Benefits

Private Limited Company

11000
7800
  • 2 members
  • Limited liability
  • High compliances
  • Easy to raise capital
  • Few Benefits

Limited Liability Partnership

11000
7800
  • 2 members
  • Limited liability
  • Low compliances
  • Moderate
  • Most Efficient
  • Prices are inclusive of all taxes.

In case if any customisation required, please contact us. We will fix you the best price !

Need assistance? Lets help you.

undraw_air_support_re_nybl

Fill in the below details and we will contact you within 24 hours.

Credits: Image by pch.vector on Freepik”