FAQs on Sole Proprietorship

 FAQs on Sole Proprietorship

How much time is required for sole proprietorship registration in India?

The length of time required to complete sole proprietorship registration typically takes 7-10 days. However, this duration may vary depending on the specific type of registration being applied for and the processing timeframe of Government Authorities.


Do I need to be physically present during this process?

No, the registration process for sole proprietorship is entirely conducted online. There is no need for you to be physically present, as all the necessary documents are submitted electronically. To initiate the process, you would only need to provide us with scanned copies of the required forms and documents.

Who can be a proprietor of a sole proprietorship firm?

Any individual person who is a citizen of India and has the required documents can become a proprietor of a sole proprietorship firm.

Is it mandatory to register a sole proprietorship firm in India?

Although registering a sole proprietorship firm is not compulsory in India, However, in order to open a Bank Account or to obtain any kind of finance or deal with a business supplier, a sole proprietorship firm should obtain some kind of registration.

Does a sole proprietorship firm have a perpetual succession or continuous existence?

No, a sole proprietorship firm does not have a perpetual succession or continuous existence. A sole proprietorship firm will be dissolved after the death of the sole proprietor.

Is a sole proprietorship firm a separate legal entity?

No, a sole proprietorship firm is not a separate legal entity from its owner. The PAN card of both the proprietor and sole proprietorship firm is same and all the Income and losses of the firm are taxed on the individual’s income tax return.

What is the minimum amount of capital required to establish a sole proprietorship firm?

There is no prescribed minimum capital for starting a sole proprietorship firm.

Can a salaried person or a person in the employment form a sole proprietorship firm?

Yes, an employed individual can establish a sole proprietorship firm. Nevertheless, it is advisable to examine the employment agreement or terms of employment for any certain restrictions.

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