IT IS SIMPLE - ITS JUST ME
- Simple form of Business Entity
- Hardly any Legal Complainces
- Suitable for those who want to start a business on their own, individually.
ADVANTAGES
- Simple to form. No Cumbersome Legal Formalities.
- Very few Legal Compliances
- Ease of Operations
- Zero Compliance cost compared to a Private Limited Company
- No compulsory audit
CONSTRAINTS
- Funding is not availablle as easily as to a company/LLP.
- Unlimited Liability of Ownerp
- Business will get Disolved due to Death or Insolvency of the owner
DOCUMENTS REQUIRED
FOR REGISTRATION
Address proof for Propreitorship address along with NOC from landlord.
PAN Card
Adhaar card
Limited Liability Partnership
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What is Unlimited Liabilty:
It simply means that the owner will be personally responsible for the loans & debts taken for the business.
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Is my Proprietorship Business Different from Me?
No. Your business is not different from you. Your business and yourself are one and the same in the eyes of law.
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What do I need to know about Capital?
Capital is the amount invested by the owner into the business.