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Proprietorship in India is a type of unregistered business entity that is owned, managed, and controlled by one person. The micro and small businesses that are operating in the unorganized sector prefer registering as a proprietorship in India.


A sole proprietor is the owner of the sole proprietorship, he is recognized as an entity same as the business. As the sole proprietor is the owner of the business he is entitled to all the company's revenue.

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Benefit of proprietorship

Starting a proprietorship firm requires very few legal formalities. This makes it easy for you to establish one with just a little effort compared to the rewards it can get you.
As a proprietor you can select any name as the name of a proprietorship is not registered. However, the name should not breach the registered trademark.
Being recognized by the government and tax registrations, a sole proprietorship has minimum compliance requirements. The mandatory compliances are confined to the yearly filing of GST returns, annual income tax & professional tax return.
If you are the owner of a sole proprietorship, a separate business tax return filing is not required. Rather you will have the business data and numbers charted in individual return. Your business will not be taxed at corporate tax rates. Instead, it will be taxed at personal income tax rates. You can enjoy the benefits of all the deductions that an individual taxpayer enjoys under income tax.
If you are a sole trader, you have the freedom to make quick decisions in all business operations without having to depend on anyone else. You are at liberty to implement your ideas and decisions immediately without anyone’s approval.
As a sole trader only you have access to all your business secrets that are at the root of your success. Thus, you can ensure maximum business confidentiality.
Since in a sole proprietorship concern, the business and the owner are considered as one and not a separate entity, there is no special winding up process as in the case of other entities. The winding up of the business is very easy and the only requirement is cancellation of tax registrations and licenses obtained by the proprietorship business.
Whatever income is generated from the sole proprietorship business, it belongs to the sole proprietor only. There is no sharing of the business profits and losses.
Since in a sole proprietorship concern, the business and the owner are considered as one and not a separate entity, there is no special winding up process as in the case of other entities. The winding up of the business is very easy and the only requirement is cancellation of tax registrations and licenses obtained by the proprietorship business.
Whatever income is generated from the sole proprietorship business, it belongs to the sole proprietor only. There is no sharing of the business profits and losses.

FAQ of proprietorship

A proprietorship concern has very little compliance to follow. a. Every year you have to file your income tax return with the Income Tax authority b. File your GST return depending on the size and nature of your business
You can use any amount of minimum capital to start a proprietorship since there is no fixed limit to the minimum capital required to start a proprietorship.
An NRI or Person of Indian Origin can invest in proprietorship firm provided the amount invested are not repatriated outside India.
In the case of a proprietorship, every year you do not have to conduct a statutory audit. But based on your turnover and other factors, you may need a tax audit.
Yes, a proprietorship can be converted into a company or an LLP by following certain procedures. But converting a proprietorship business into a company or an LLP involves a lengthy procedure that can be expensive and time-consuming. So it is always advisable for an entrepreneur to consider the options of starting an LLP or a company rather than a proprietorship.
You can run any kind of local business, starting from a grocery store to being a fast-food vendor, as a sole proprietorship. You can even run a sole proprietorship if you are a small trader or manufacturer.
You cannot transfer your proprietorship operated business to another person as in the case of a private company or a limited liability through the sale. Also, you cannot transfer intangible assets like registration, government approvals, etc. to anyone.
In India, a sole proprietorship company is not a separate legal body from its owner. So it has no separate act governing it.
Your proprietorship concern is not incorporated or registered anywhere. So it does not have a certificate of incorporation. You can register your business with any relevant government authority like Professional Tax Registration, GST, or MSME to recognize the identity of your proprietorship concern.
A proprietorship concern has very little compliance to follow. a. Every year you have to file your income tax return with the Income Tax authority b. File your GST return depending on the size and nature of your business
Since a proprietorship concern is owned, controlled, and managed by a single person, you do not have the option of adding partners to your proprietorship concern.
In case of proprietorship concern, the proprietor’s PAN card and that of the Proprietorship are the same. So your firm has no separate legal identity. Also, when it comes to the assets and liabilities, it is the same for the proprietor and the proprietorship.
To be a proprietor, an individual must be an Indian citizen and a resident of India. A corporate legal entity cannot be a proprietor.
You can use any amount of minimum capital to start a proprietorship since there is no fixed limit to the minimum capital required to start a proprietorship.
An NRI or Person of Indian Origin can invest in proprietorship firm provided the amount invested are not repatriated outside India.
In the case of a proprietorship, every year you do not have to conduct a statutory audit. But based on your turnover and other factors, you may need a tax audit.
Yes, a proprietorship can be converted into a company or an LLP by following certain procedures. But converting a proprietorship business into a company or an LLP involves a lengthy procedure that can be expensive and time-consuming. So it is always advisable for an entrepreneur to consider the options of starting an LLP or a company rather than a proprietorship.
You can run any kind of local business, starting from a grocery store to being a fast-food vendor, as a sole proprietorship. You can even run a sole proprietorship if you are a small trader or manufacturer.
You cannot transfer your proprietorship operated business to another person as in the case of a private company or a limited liability through the sale. Also, you cannot transfer intangible assets like registration, government approvals, etc. to anyone.
In India, a sole proprietorship company is not a separate legal body from its owner. So it has no separate act governing it.
Your proprietorship concern is not incorporated or registered anywhere. So it does not have a certificate of incorporation. You can register your business with any relevant government authority like Professional Tax Registration, GST, or MSME to recognize the identity of your proprietorship concern.
A proprietorship concern has very little compliance to follow. a. Every year you have to file your income tax return with the Income Tax authority b. File your GST return depending on the size and nature of your business
Since a proprietorship concern is owned, controlled, and managed by a single person, you do not have the option of adding partners to your proprietorship concern.
A proprietorship concern has very little compliance to follow. a. Every year you have to file your income tax return with the Income Tax authority b. File your GST return depending on the size and nature of your business
Member

Excellent service, prompt response. Very professional approach to the entire process. Special thanks to Kirankumar sir who made it very easy for me

Nanak Bajaj

Test1

Member

I always had a great experience with VMC Group. It is since 7 years that I am getting all my Income tax, GST, LLP Compliance done through them

Vikrant Bodke

Partner

Member

VMC GROUP good services within a short period of time, employees excellently coordinate with clients Tq Manali and team for supporting

Amit Singh

Director

Member

Registration took just Three day to complete. Speed of execution is key to start new business and VMC Group understands the needs of

Atul Kargutkar

Director

Member

I have done my company registration at VMC GROUP along with TM and taken consultancy services for FDI. Services and guidance was

Divya Bajaj

Director

Member

I am very impressed with work delivery system of VMC Group & team. They're very much competent to guide any start Up in statutory...

Samir Shah

Proprietor

Member

Good company, good people give compliance related services in very professional way and delight customer by their services. i very much

Bhupendra Pathak

Director

Member

Highly supporting system for new business. Thank you VMC GROUP for providing every type of business related support to new in field

Prashant Mahadik

Proprietor

Member

Thank to all team members of VMC GROUP your customer support is really like Backbone... Special thanks to "Mr. Kirankumar" 

Amit Jethwa

Proprietor

Member

I appreciate your service and will surely recommend to my friends who are looking for registering their company. It was a excellent job

Dinesh Dewada

Proprietor

Member

Thanks for Helping in Registration of Company and Registration of GST. They Come Quickly Than Estimated Time

Rahul Kshirsagar

Director

Member

My notions were feeble to pay for online services before "VMC GROUP" experiences. However they utterly pay-off my each penny by their swift and

Shilpa Pasodi

Director

Member

Thank you VMC GROUP for all your help in registering my private limited company in Bangalore, very smooth and they made it very easy for me

Kaushik Patil

Director

Member

Very Good Service, Quick quality Work, Time completed, Low Cost Work, We be Happy

Raspal Singh Bawaje

Director

Member

Interacted with Mr. Kaushik Sir for filing my GST returns. He was very courteous, polite and quick-to-action. Thank you for you’re

Poonam Pranamik

Director

Member

Perfection, sincerity, on timing means VMC GROUP. Contacted several companies for my work online and offline but couldn't get anyone to

Sandeep Yedpal

Director

Member

Excellent services offered for Start up Firms and also for existing companies. Hope VMC Group opens up more offices in Tier II cities and

Shyam Josarfal

Director

Member

Good work done by Mr Kaushik Sir, he is more concerned about my work to be completed on time, loved his working

Mohan Dewada

Proprietor

Member

I am new at incorporation field but VMC GROUP helps me out & I would like to mention especially for Ms Pratibha Varia guided me all through the

Rohit Daveser

Director

Member

I was doubtful in the beginning to contact them for my work but they proved to be very professional and fast. I contacted VMC Group for Income tax & GST Refund

Vishal Shah

Proprietor

Member

Wonderful experience and a very professional bunch of people. To name some I have been recently dealing with Pratibha Varia, Manali

Sunny Sharma

Partner

Member

Wonderful experience. VMC Group is very professional and efficient. Its executives are very friendly and helpful. Manli who was handling

Vikas Valunj

Proprietor

Member

Professionalism at its best. Every employee in this company is so energetic and punctual. You can rely on this company for sure

Joaquim Thoras

CEO

Member

The staff is really praiseworthy. I would like to mention specially for Ms. Pratibha Varia guided me all through the process

Kashish Kanojia

Partner

Member

A good and professional company. I came to know about this company from Google. When I go through company profile, Enthical company with finest of Staff , Specially Pratibha Varia. She helped a lot throughout the process of registration and incorporation

Rohit Shah

Proprietor

Member

Extremely satisfied with the service. I came through this company in Google search. Initially I was hesitant about how would be the service

Suntosh Singh

Proprietor

Member

VMC Group made us very easy to deal with all documentation. Staff Manali guided all through the process. Over all a Good team. Keep it up, Pratibha Varia has been really efficient and quick in the process for KYC filing. Tremendous job. Keep up the good work. All the best

Amit Adwani

Director

Member

VMC Group truly committed to their statements .Their work is also very quick and on time and they even treat their customers in

Nishikant Namaye

Proprietor

Member

All the work of my company has been done by VMC Group employees for the last 3 years. I am satisfied with their work. I thank to Kaushik Sir

Mansukh Sarvi

Proprietor

Member

My first experience today and it was really a wonderful experience. Quick updates and follow ups considering the criticality of the work, I'm very happy with the services provided Ms Manisha walked me through some of the processing very patiently and kept regular updates. Thank you

Darshan Kaklotar

Proprietor

Member

Sonali is prompt and cooperative; i had a smooth experience in filing my annual returns and also during LLP establishment. I thank her and wish good luck :-)...

Subhash Bhagyawant

Partner

Member

All the work of my company has been done by VMC Group employees for the last 3 years. I am satisfied with their work. I thank to Pratibha Madam for the submission of my DIN KYC file

Mukesh Thomare

Director

Member

They provide the best service for business registration. Thank you so much Pratibha Madam for providing such a great and efficient assistance for my

Chadrashekhar Gawas

Partner

Member

I had a very pleasant experience with VMC Group. Thanks to Manali and Manisha who guided me step by step through the process

Ashwin Tendulkar

Director

Member

Excellent service, Very cooperative, Especially Kiran Sir way of talking and understanding your query is extremely nice. Thank you

Shashi Kumar

Director

Member

Excellent service, prompt response. Very professional approach to the entire process. Special thanks to Pratibha Mam who made it very easy for me

Arnab Chatterjee

Director

Member

VMC GROUP good services within a short period of time, employees excellently coordinate with a clients Tq Manli and team for supporting

Mallappa Reddy

Proprietor

Member

Registration took just 7 day to complete. Speed of execution is key to start new business and VMC Group understands the needs of Clients

Prashant Deshmukh

Director

Member

They are truly committed to their statements .Their work is also very quick and on time and they even treat their customers in a very polite

Rama Singh

Proprietor

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