We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
We collect the Purchase and Sales bills, Expense Vouchers, Expense Bills either in soft copy or our in specified formats or physically.
"Let's Protect your identity and Create Value for your brand with team Apedzii"
A Proprietorship is a business structure owned and operated by a single individual, known as the proprietor. It is the simplest form of business organisation and lacks a legal distinction between the business and its owner.
Registration Process
- No Formal Registration: Proprietorships do not require formal registration. However, obtaining necessary licences and permits based on the business type may be necessary.
- PAN and Aadhaar: The proprietor can use their PAN (Permanent Account Number) for business transactions and link it with their Aadhaar.
Advantages
- Sole Ownership: Complete control and decision-making authority rest with the proprietor.
- Ease of Formation: Quick and cost-effective establishment with minimal formalities.
- Direct Control: Decisions can be made swiftly without consulting others.
Points to be Considered
- Unlimited Liability: The proprietor has unlimited personal liability for business debts and obligations.
- Limited Capital: Raising capital may be challenging compared to other business structures.
Compliance
- Minimal Compliance: Fewer compliance requirements compared to more complex structures.
- Taxation: The proprietor is taxed at the individual income tax rates.
Liabilities
- Unlimited Personal Liability: The proprietor is personally responsible for all business debts and legal obligations. Personal assets may be used to settle business debts.
A proprietorship is suitable for small businesses where the owner desires full control and minimal regulatory formalities. However, the unlimited personal liability aspect should be carefully considered, especially in businesses with higher risks. Always consult with professionals to ensure compliance with local regulations.