FREQUENTLY ASKED QUESTIONS (FAQs)
A Sole proprietorship is a business which is owned, managed and controlled by a single person. It is ideal for small traders and merchants.
There is no minimum capital requirement.
Sole proprietorship is recognized by other registrations such as MSME registration, GST registration, Shops and Establishments License, Trade licence)
No, the firm has no legal existence separate from its owner.
The liability of the proprietor is unlimited i.e. it extends beyond the capital invested in the firm. Proprietor alone enjoys the benefits or profits of the business and he alone bears the losses.
GST and Income Tax returns must be filed by a partnership firm.
Yes, it is possible
No, not required. We receive your documents through online and complete the process.