Sole Proprietorship

A Sole Proprietorship is a simple, unregistered business owned and managed by one individual with full control and unlimited personal liability.

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Complete Control
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Minimal Compliance
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Ease Formation
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Wish Legals

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Wish Legals

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Unlock Your Business With Free Expert Consultation!

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Overview

A Sole Proprietorship is the simplest form of business where a single individual owns and manages the business. It does not require formal registration, making it a cost-effective and easy-to-start option for small businesses and freelancers. However, the owner's personal assets are at risk as there is no distinction between personal and business liability.

What is Sole Proprietorship?

A Sole Proprietorship is the simplest form of business, owned and operated by a single individual. It involves minimal regulatory compliance, offers complete control to the owner, and allows direct retention of profits. Ideal for small businesses and freelancers, it carries unlimited liability and lacks a separate legal identity.

Benefits

Easy Setup

Requires minimal legal formalities to start.

Low Compliance

No statutory audits or corporate governance rules.

Full Profit Retention

The proprietor keeps all earnings.

Tax Benefits

Income is taxed as individual income, avoiding corporate tax rates.

Flexibility

The owner can make quick decisions.

Easy Closure

No lengthy dissolution process required.

Our Service Advantages

Service Advantage 1

We assist in GST, MSME, and tax registrations.

Service Advantage 2

Tailored legal and taxation guidance.

Service Advantage 3

Get your business registered quickly.

Service Advantage 4

Cost-effective solutions for small businesses.

Service Advantage 5

Support for tax filings and business documentation.

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Hassle-Free Registration

Expert Advisory

Fast Proces

Affordable Pricing

Ongoing Compliance

Step By Step

Choose a Business Name

01

Ensure uniqueness and
compliance.

Obtain Necessary Registrations

02

GST, MSME, Shop & Establishment registration (if required).

Open a Bank Account

03

Use a registered name for transactions.

Apply for PAN & TAN

04

Essential for taxation
purposes.

Maintain Business Records

05

Keep invoices and tax
records.

Annual Compliance

06

File income tax returns and renew licenses if needed.

Step By Step

Choose a Business Nam
Ensure uniqueness and compliance
01
Obtain Necessary Registrations
02
GST, MSME, Shop & Establishment registration (if required)
Open a Bank Account
Use a registered name for transactions
03
Apply for PAN & TAN
04
Essential for taxation purposes
Maintain Business Records
Keep invoices and tax records
05
Annual Compliance
06
File income tax returns and renew licenses if needed.

Why Choose Wish Legals

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Reason for choosing us

Comprehensive Legal Exrtise Comprehensive Legal Exrtise
Tech-Driven Solutions Tech-Driven Solutions
Dedicated Customer Portal Dedicated Customer Portal
Client-Centric Approach Client-Centric Approach
Cost-Efficient Services Cost-Efficient Services
Transparent Communication Transparent
Communication