A business which is owned, managed and controlled by one individual is a Proprietorship Business. It is one of the most common forms of business in India, used by very small businesses. Proprietorship is very easy to start and they have minimal regulatory compliance requirements for getting started. Even though it is very easy to start it has many shortcomings like unlimited liability of proprietor, no continued existence, no recognition, which are desirable features for any business. Therefore, proprietorship's are suited for unorganised, small businesses that will have a limited existence.
There is no mechanism provided by the Government of India for the registration or incorporation of a Proprietorship. Therefore, the existence of a proprietorship is established only by tax registrations and other business registrations that a Proprietorship is required to have as per the rules and regulations. We at Infinity Filings can offer you a wide catalogue of services for setting up your own Proprietorship business.