Registration of Propritorship
This query is : Resolved
17 December 2007
Dear Friends,
Whether the registration of Proprietorship is compulsory by any of the Act.
Thanks
Whether the registration of Proprietorship is compulsory by any of the Act.
Thanks
18 December 2007
THERE IS NO REGISTERED PROPRIETORSHIP LIKE REGISTERED FIRM OR A LIMITED LIABILITY COMPANY .
BUT IF THE PROPRIETOR IS DOING ANY BUSINESS WHERE LICENCE IS APPLICABLE , HE MUST APPLY FOR AND OBTAIN THE LICENCE , LIKE SHOPS AND ESTABLISHMENT ACT.
SIMILARLY IF HE DOES A BUSINESS AND IF TURNOVER LIMIT IS APPLICABLE , HE MUST REGISTER UNDER VAT.
IF HE IS IN A BUSINESS WHERE EXCISE LICENCE IS APPLICABLE HE MUST REGISTER UNDER CENTRAL EXCISE ACT.
SIMILARLY IF HE IS A SERVICE PROVIDER UNDER THE SERVICE TAX ACT,HE NEEDS TO REGISTER HIMSELF UNDER THE SERVICE TAX ACT SUBJEC TO THE THRESHOLD LIMIT .
SO AS PER THE APPLICBLE BUSINESS WHICH HE TAKES UP ,HE NEEDS TO REGISTER UNDER THE RESPECTIVE ACT AND DO BUSINESS AS PER LAW OF THE LAND.
R.V.RAO
BUT IF THE PROPRIETOR IS DOING ANY BUSINESS WHERE LICENCE IS APPLICABLE , HE MUST APPLY FOR AND OBTAIN THE LICENCE , LIKE SHOPS AND ESTABLISHMENT ACT.
SIMILARLY IF HE DOES A BUSINESS AND IF TURNOVER LIMIT IS APPLICABLE , HE MUST REGISTER UNDER VAT.
IF HE IS IN A BUSINESS WHERE EXCISE LICENCE IS APPLICABLE HE MUST REGISTER UNDER CENTRAL EXCISE ACT.
SIMILARLY IF HE IS A SERVICE PROVIDER UNDER THE SERVICE TAX ACT,HE NEEDS TO REGISTER HIMSELF UNDER THE SERVICE TAX ACT SUBJEC TO THE THRESHOLD LIMIT .
SO AS PER THE APPLICBLE BUSINESS WHICH HE TAKES UP ,HE NEEDS TO REGISTER UNDER THE RESPECTIVE ACT AND DO BUSINESS AS PER LAW OF THE LAND.
R.V.RAO
CA. Vineet Grover
(Expert)
18 December 2007
Sachin,
A proprietor need to deposit profession tax as well on the basis of his turnover.
rgds/
vineet
A proprietor need to deposit profession tax as well on the basis of his turnover.
rgds/
vineet
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