The applicant may submit an application under "RUN" by putting up two alternate names and their implications.

As long as the annual compliances are timely submitted, a company that has been incorporated will continue to exist and be active.

The proprietorship business must be dissolved within 90 days or three months of the Limited Company's incorporation.

A Pvt. Ltd. corporation would need at least two members who would serve as the company's directors.

Any person or organization, including one that is foreign, may join a Private Limited Company.

The permissions and licenses cannot be transferred from a Sole Proprietorship to a Private Limited Company.

In the case of proprietorships tax audit is not necessary, it is completely based on the turnover and other criteria.

The main tax advantage of a proprietorship is that it can deduct the cost of health insurance for self, spouse, and dependents.

As the sole proprietorships are not considered tax entities, they are not separate from their owners so the proprietor does not have to face double taxation.

Proprietorship annual return filing is done through ITR