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Sole Proprietorship

Sole proprietorship is the simplest form of business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. There is no legal distinction between the assets and liabilities of a business and those of its owner. It is by far the most popular business structure for startups because its ease of formation, least record keeping, minimal regulatory control and avoidance of double taxation.Although for forming sole proprietorship it doesn’t need any registration with government but there are some business licenses you need to take while setting up sole proprietorship firm like Sales tax, service tax, Import export Code, Shop & Establishment, Trade License, ESI,PF etc.

The Vincyte process starts with consultation with client, seeking requirement of business and registration compliances as applicable to business.

Features

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Easy formation

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No Need for Formal Registration

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Freely add personal assets to business

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Easy Option to test your business

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Lowest Tax Rates

Benefit of tax exemptions

Documents Required

Name of the Sole Proprietorship Firm

ID Proof of Proprietor

(Election Voter ID, PAN Card, Aadhar Card & Passport)

Rent Agreement and NOC/ Sale Deed of Registered office of the Business

Business Place ownership proof

as latest utility bill (electricity bill/Telephone bill)

Address Proof of Proprietor

(BANK Statement, Telephone Bill, Electricity Bill etc.)

Latest Two Passport size Photos of Proprietor

Detailed Description about objective of firm

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