Advantages of Sole Proprietorship

• Quick and easy to set up
• Low compliance and operational cost
• Complete control of business decisions
• No corporate taxes (taxed as individual income)
• Suitable for freelancers, traders, and local services

Eligibility Criteria

• The owner must be an Indian citizen and resident
• Must be 18 years or older
• Should have a valid PAN and Aadhaar card
• Business name should not infringe any trademark
• Must have a business location (home/office/shop)

Documents Required

• PAN card and Aadhaar card of the proprietor
• Passport-size photo
• Bank account in the name of the business
• Utility bill or rent agreement of business address
• No Objection Certificate (NOC) from landlord (if rented)
• Business-related registration (like GST, MSME, Shop Act)

Sole Proprietorship Registration Process

1. Step 1: Choose a unique business name
2. Step 2: Get a PAN card (if not available)
3. Step 3: Open a current bank account in business name
4. Step 4: Register under applicable laws (GST, MSME, Shop & Establishment, etc.)
5. Step 5: Get business licenses or permits if required (e.g., FSSAI)

Why Choose Corporate Analytica?

• Fastest registration assistance
• Expert CA/CS and legal advisors
• Customized package for GST, MSME, FSSAI, etc.
• Complete business setup support
• End-to-end documentation and follow-up

Post‑Registration Compliance

• File Income Tax Returns as an individual
• Maintain invoices and accounting records
• Renew applicable licenses annually
• File GST returns (if GST registered)
• Ensure local municipal or shop license renewal

Penalty for Non-Compliance

• Failure to follow rules may lead to fines.
• Missing renewal deadlines can attract penalties.
• Providing false information may invite legal action.
• Serious violations can even cause project shutdown.