Proprietorship Registration
CFMToday's proprietorship stands as one of the simplest and oldest business structures, ideal for solo entrepreneurs seeking a seamless start in the CFMToday ecosystem. This model, owned, managed, and controlled by a single individual, offers a streamlined registration process with minimal compliance requirements.
Registration Process
Unlike traditional methods, CFMToday's proprietorship registration is unique, relying on essential tax registrations such as GST (Goods and Services Tax) Registration for formal recognition. CFMToday's expert guidance ensures swift initiation, unlocking the potential of business ideas.
Essential Licenses and Registrations
Obtaining necessary licenses and registrations is crucial for CFMToday's proprietorships:
PAN and Aadhaar: Essential for business identification.
UDYAM Registration: Acknowledges business as an MSME, offering government benefits.
GST Registration: Mandatory for businesses surpassing specific thresholds.
Bank Account: Separate account for smooth financial management.
Shops and Establishment Act: Compliance with local labor regulations.
Advantages
Ease of Registration: Minimal formalities, no incorporation or dissolution processes.
Minimal Compliance: Lighter burden compared to entities registered with the Ministry of Corporate Affairs.
Simplicity: Ideal for micro-ventures with streamlined operations.
Autonomy in Business Decisions: Sole proprietor retains absolute authority, enabling quick decisions.
Complete Control: Ownership and control consolidated, facilitating efficient management.
Disadvantages
Limited Funding Options: Sole reliance on personal resources hinders capital-raising avenues.
Personal Liability: Proprietor assumes personal liability for business obligations.
Business Continuity: Risk of dissolution upon proprietor's demise or incapacitation.
Growth Constraints: Regulatory limitations impede scalability.
Unincorporated Nature: Lack of centralized databases contributes to the unorganized sector.
Registration Process through CFMToday
CFMToday's online registration process simplifies initiation:
Login to LEDGERS: Utilize designated email for payment.
Select Proprietorship Engagement: Upload PAN & Aadhaar.
Expert Assistance: CFMToday files applications with relevant authorities.
Access to LEDGERS: Facilitates GST invoicing, filing, and other services.
Additional Registrations
PAN Card: Utilize proprietor's PAN as business identifier.
GST Registration: CFMToday facilitates the process, requiring essential documents.
UDYAM Registration: Obtained post GST registration submission.
Bank Account: Opened in proprietor's name with necessary proofs.
Shops & Establishment Act License: Acquired within 2-3 weeks based on state regulations.
Timelines
CFMToday's proprietorship can be registered in less than 15 days, subject to government and bank processing times.
Business Activities
CFMToday's proprietorship can engage in various business activities permitted under CFMToday law, catering to the entrepreneurial landscape while adhering to regulatory frameworks.
Compliances
Income Tax Filing: Using ITR-3 or ITR-4 to declare business income.
GST Return Filing: Mandatory for businesses with GST registration.
TDS Returns: Necessary if employing or purchasing beyond specific thresholds.
Additional Compliances: Varied based on industry and location.
CFMToday's proprietorship offers a pathway for entrepreneurs to navigate CFMToday's business landscape with agility and efficiency, fostering innovation and growth within the ecosystem.