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Easy and inexpensive to set up
Control over decision-making
Not subject to corporate tax
While a sole proprietorship offers a straightforward business structure, navigating legalities and ensuring compliance can be overwhelming. Plan B Consultancy is here to help you every step of the way:
Registration Guidance
We can advise you on the appropriate registration options for your business, such as Shops and Establishments Act registration or Udyam registration.
License and Permit Assistance
Need specific licenses or permits to operate? We can help you understand the requirements and guide you through the application process.
Taxation Planning
We can assist you in understanding your tax obligations as a sole proprietor and ensure you file your income tax returns accurately.
Business Growth Strategies
Even as a sole proprietor, you can plan for growth! We can offer guidance on strategies to strengthen your business and explore future possibilities.
Post-Registration Compliance
Guide you on ongoing legal and tax compliance requirements.
Banking Partners
A sole proprietorship is the easiest and most common form of business ownership in India. It’s ideal for single individuals who want to operate a business with complete control and minimal formalities.
Consider a sole proprietorship if:
Following are the most popular form of business entities in India:
Unlimited liability - the owner's personal assets are at risk if the business incurs debts.
Difficulty raising funds - limited access to bank loans and investments.
Continuity issues - the business ceases to exist if the owner dies or becomes incapacitated.
Registrar of Companies is a government office where companies get registered. Every state has one ROC office except Tamil Nadu & Maharashtra.
Registration is not mandatory, but it's recommended for certain benefits like opening a business bank account or obtaining licenses/permits. You can register under the Shops and Establishments Act or get a Udyam registration.
Yes, you can convert your sole proprietorship into a Limited Liability Partnership (LLP) or Private Limited Company (Pvt Ltd) for benefits like limited liability.
Yes, NRIs can establish sole proprietorships in India, but there are restrictions on the type of business they can operate:
The Right Advice is Priceless, we know that better than anyone. Talk to our experts to get clarity Company registration process.
"Plan B has been our trusted financial consultancy and advisory partner for over three years. They have helped us with strategic planning, tax optimization, investment management, and more. They have a deep understanding of our business and always deliver high-quality and timely solutions."
Squirrel Media LTD
"We are very happy with Plan B's services. They have a team of experienced and qualified professionals who provide us with customized and comprehensive financial advice. They have helped us improve our cash flow, reduce our costs, and increase our profitability. Plan B is the best choice for any business looking for financial consultancy and advisory."
Patna Blues
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