Proprietorship firm Registration?

Before you can commence a business, in many parts of the world, it may be necessary to register it. A well-known form of this procedure is called “proprietorship registration”. Plenty of countries have laws about who and what a proprietor can do with their company in their respective domains. Proprietorship is recognized by other registrations, such as a service or sales tax registration. It has too many shortcomings, such as unlimited liability of proprietor, and it does not have continuous existence. For these reasons it is considered by small merchants and traders as a business structure. Sole Proprietorship Registration is done through Leciel Consulting. What is Proprietorship firm Registration ? How does it work? What are the pros and cons that come with this type of registration? Let’s discover the specifics behind proprietorship registration in more depth! A Sole proprietorship is a business which is owned, managed and controlled by a single person. A proprietorship with income of less than Rs. 2 Lakhs per annum is not required to pay income tax. Easy to establish with less formalities No partner will be responsible for any kind of misconduct by the other partner. Cheaper to incorporate than a “Private limited company”.