Any e-commerce business which wants to accept online payments, needs to be a registered company. So as to be able to integrate an authorized payment gateway on the website.

We wrote this post to be a one- stop guide for all your queries about getting your brand up and working to start selling online. And the easiest way to do that is to register your business as a Sole Proprietorship.

Let us begin with understanding what a sole proprietorship has to offer.

For starters, sole proprietorship is the easiest firm to start, has lower legal compliance and is fairly easy to tackle. A proprietorship business and its proprietor (i.e. you) are a single entity in all legal matters. Indian law doesn’t treat the two differently as is the case with a company registered as a Private Ltd or a Public Ltd or even a Partnership firm. And in view of this, you are taxed at individual rates instead of the corporate rates. So it greatly reduces your tax formalities as you have to file only one personal income tax return.

So you and your brand are one soul, with no biases whatsoever. You can even run it out of your home, for which no special registration is required. But a note for whenever you intend on expanding and setting up a physical commercial store, you will have to fill in some paperwork with your local municipal corporation and will need to check in with the Shops and Establishment Act.

Comments

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JUDY ROGERS

10 Oct 2018 07:12 AM

I have to say, this is really helpful. Very insightful. Especially your suggestive intakes are very beneficial. I was looking for something like. Back in last month, I was looking for the best online payment system for my office. This post has helped me Thanks to both of you.

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