Hello Sir, I would like to ask how can I incorporate a sole proprietorship firm? Should I contact a Lawyer or CA,CS for the same?Can I raise funding for sole proprietorship?Are there any terms and conditions for such startups.What compliance like TIN registration etc would i need?I would like to thank you for this free question answer service, in advance !

4 Answers Given By Lawyers

Nischal Arvind Singh Answer

Sole proprietorship firm doesn't qualify as startups, ask CA to incorporate your company as PVt ltd, OPC or LLP if you like to start a business under startup, TIN number etc is taken care by CA. If you need more information please arrange a meeting with us, we are and had worked with many startups in india. We can provide you complete solution and consultancy on same

Answer

Sole proprietorship cannot raise funds very easily as per legal compliances. To raise funds company registration should be preferably Private Limited or LLP (Limited Liability Partnership). Sole proprietorship ‘s advantage is that it is hassle free and has few formal business requirements.

Higrit Answer

1. Sole Proprietorship–the one headed kingpin of the whole business is not a legal entity. A sole trader enjoys the privileges of having the control of all the activities related to business. He exercises control over all the decision making policies and its execution. This type involves no compliance. Advantages – 1. It said to be the easiest way to start a business 2. ....


Omkar Answer

At HiGrit you can connect with Lawyers, CA or CS for any of your legal consult. Company registration as sole proprietorship is easy and ideal for small businesses, traders and merchants from the unorganized sector. VAT or TIN is required only if the business turnover or taxable income is more than INR 5 Lacs (few States the limit is INR 10 Lacs) in a year.