Where to Register Proprietorship Firm

Documents Required for Sole Proprietorship Registration in India

Sole Proprietorship is the most accessible form of business done in India since any specific laws don’t govern it. Under sole Proprietorship's, the compliance’s are minimal and easy to fulfil. Sole Proprietorship means a business carried on by one person. The decision making and management of the business is in the hands of a single person.

Aadhar Card

Aadhar number is now a necessity for applying for any registration in India. After applying for an Aadhar card, a hard copy of the same is received at the registered address in around 15-20 days. Also, the income tax return can only be filed if the person has linked his PAN card with the Aadhar number. Contact nearest E-Mitra or Aadhar Seva Kendra if you haven’t got an Aadhar number yet.

PAN Card

You can’t file your income tax return until you get a PAN. So if you don’t have a PAN number, apply for it at the earliest. PAN card can be applied online and it costs Rs. 110, approximately. For applying, you need a scanned photograph, identity proof, and address proof.

The form can be submitted online by verifying it through Aadhar e-KYC. Once the PAN card application is submitted, it is checked at NSDL for verification, and if NSDL finds the information correct, it allots the PAN number within 7-8 days. Further, a hard copy of the PAN card is received at the registered address within 15-20 days.

Bank Account

After you have got your Aadhar Number and PAN, you can visit any bank for opening an account with them. Apart from Aadhar Number and PAN, you need to carry identity proof and address proof. For opening a current account, you need to submit a GST registration document to the bank officials too.

Registered Office Proof

• If it is a Rented Property: Rent agreement and NOC from a landlord.
  
• If it is a Self-owned Property: Electricity bill or any utility bill or sale deed.
  

Registrations Required For A Sole Proprietorship

In addition to the above documents, there are few registrations required in order to establish the existence of the firm:

Registering as SME

You can get yourself registered as a Small and Medium Enterprise (SME) under the MSME Act. The application can be filed electronically. Although it isn’t compulsory to register as an SME, it is highly beneficial, especially at the time of taking a loan for the business. The Government runs various schemes for SMEs where loans are provided at the concessional rate of interest.

Shop and Establishment Act License

The Shops and Establishment Act License is required to be obtained according to the local laws. It is issued on the basis of the business and the number of employees. Generally, all sole proprietors who own a shop or establish a commercial establishment must obtain this license.

Created & Posted By Aashima

Accounts Executive at TAXAJ

TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/Business, Trademark & Brand Registration, Digital Marketing, E-Stamp Paper Online, Closure of Business, Legal Services, Payroll Services, etc. For any further queries related to this or anything else visit TAXAJ

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TAXAJ Corporate Services LLP

Address: 1/11, 1st Floor, Sulahkul Vihar, Old Palam Road, Dwarka, Delhi-110078

Contact: 8961228919 ; 8802812345 | E-Mail: connect@taxaj.com

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