A Sole Proprietorship form of business organisation is where a business is managed by a single person. Generally, it does not require any registration as such.
In India, many entrepreneurs initially start their business as a sole proprietorship because of its low compliance requirements. After certain years, the business will boom and the revenues involved will become more.Now, in order to limit the liability and to detach the bank accounts and tax filing of an individual, a sole proprietorship to private limited company conversion will be done.
(1) Capital Expansion
(2) Limited Liability
(3) Perpetual Succession
(1) PAN card proprietorship
(2) Name and address of the business
(3) Bank account in the name of business
(4) Registration under GST, if the business turnover exceeds Rs.20 Lakhs
(1) Aadhar card copy
(2) Pan card of directors.
(3) Ownership proof of the business place
(4) Rental agreement
(5) NOC from the landlord
(6) Electricity and water bill
(1) What is Sole Proprietorship to Pvt. Ltd.?
(2) What is application number?
(3) For how long is the company registration valid?
(4) How we can reserve the name of company?