- START A BUSINESS
- MANDATORY REGISTRATION
- NEED BASED REGISTRATIONS & LICENSES
- INCOME TAX & GST
- TRADEMARK / PATENT
As per Proprietorship Registration, the individuals are believed to be the same party under the legal procedure, and the accounts are also the same. However, it sometimes becomes hard to keep records of individual operating costs and revenue from the sole proprietorship firm's profits and earnings. Therefore to make your process simple, you can opt for a different current bank in the name of your sole proprietorship firm.
The Sole proprietorship firm is administrated and controlled by an individual. This type of company preferred due to its inexpensive setup, less regulative, and a hassle-free registration process. There is no different law controlling the process; thus, the organizations and the individuals are believed to be the single party. There is no compulsion to register for a sole proprietorship, for it is suggested to whom, who wants to have a bank account for their business, and can register with proprietorship.
There is no classification between the individual regulating and handling its act and the sole proprietorship and are similar as the changing character and has identical according to the legal compliance. Nonetheless, there might be some event where it is needed to have a different picture for an individual's separate income and revenue of the firm. To make the business operation smooth, hence it is required to control the accounts; one should have a different account for the firm.
Valcus is a responsible business service provider and it understands entire legal compliances and documentations required for Proprietor Registration. Here is our process of Proprietor Registration.
Several company registration firms are working in the market, but all you need to choose the reliable one.