Sole proprietorship registration

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This query is : Resolved

Swamy (Querist)

22 September 2012 sir
can you please tell about registration of sole proprietorship business and vat registration please give the answers to the following questions.
1.Is their any requirement for the registration of the name of the sole proprietorship business if i is differ from the name of the proprietor.
2.A proprietor who wants starts works contract business can apply volentery vat registration even his contract is less than 500000.
3.if proprietor start sole proprietorship business with a particular name is their any requirement for opening separate bank account in the name of proprietorship business.
4.A person who want to start a works contract proprietorship business can apply volentery vat registration before apply or taking of works contract business.

Amol S Joglekar

Amol S Joglekar (Expert)

23 September 2012 01. No need to register the name as such. It is the requirement under shops and establishment act, to get the shop act liscence. 02.He can apply for voluntary registration for VAT. No problem. No need to cross the limit of 5lakh. 3.No need to open bank account as such. But my dear what happens.. you issue the bills in the name of trade name and the party writes the cheque in that trade name. You are stuck up. You can not deposit trade name cheque in your individual name account. (If you are sure of your CASH kind of business, no harm in continuing without bank account.

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