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A Sole Proprietorship is the simplest type of business in India. It means you are the only owner of your business, and you manage everything. All profits and losses are yours. You don’t need to form a company or deal with too many rules.
It’s best for small shop owners, freelancers, local service providers, online sellers, and anyone starting small. You don’t need a lot of money or any partners to begin.
There’s no central government registration needed, but you must have at least one official document to prove your business exists, like GST, MSME (Udyam), or Shop and Establishment registration. These help you open a current account and make your business legal.
You can start in just a few days with very little paperwork.
You are the boss. You take all the decisions.
You can start with any small amount of money.
No need to file complex company forms. Just keep your tax returns up to date.
You file income tax as an individual – simple and less costly.
With GST or MSME, you can open a current account in your business name.
Great choice for local shop owners or people selling on Instagram or Amazon.
MSME or GST gives your business legal recognition to show clients and vendors.
Since you’re the only owner, closing or stopping the business is simple.
There is no special license needed to start. But you must get one of the business documents like GST, MSME, or Shop License, so your business is recognised legally and you can open a current account.
Yes, if you sell on Amazon, Flipkart, or Instagram, a sole proprietorship with GST registration is perfect for you.
Usually, 2 to 5 working days, depending on the type of registration. We send you updates and handle everything.
Only if you sell outside your state, online, or your yearly turnover is over Rs. 40 lakhs (Rs. 20 lakhs for services). Otherwise, an MSME or Shop License is enough.
Yes. Once you get GST or MSME registration, banks will let you open a current account in your business name.
CallMyCA offers budget-friendly packages starting from Rs. 1,999. We’ll guide you on what’s best for your needs.
Yes. You can hire staff, pay salaries, and run a team under your business name.
Yes, you need to file your individual income tax every year. If you have GST, then also file GST returns.
Yes. If your business grows, you can convert your sole proprietorship into a private limited company or LLP. We’ll help you do that too.
If you’re a freelancer, small shop owner, local service provider, or just starting, it’s the best and easiest option.
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