Sole propritorsship
This query is : Resolved
29 July 2013
plz tell me the process of starting sole propritorship in india deals in goods(trading of surgical item)
plz tell me the process of starting sole propritorship in india deals in goods(trading of surgical item)
29 July 2013
do u want to provide services or deal in goods or what pls specify for correct advise.
29 July 2013
Proprietary firm registration
Proprietorship Firm
In the case of proprietorship firm, there is no registration required. As there is no procedure to make application for availability of name (as in the case of companies) applicable, you simply have to open a bank account with the name & style you want to work. But if your business is liable for VAT and / or Service Tax registration, then you have to obtain VAT and / or Service Tax registration. Further, for sole proprietorship, no separate income tax PAN is required. The PAN of the proprietor will be the PAN of the firm and proprietor will have to file income tax return in his personal name.
Documents Required for Proprietary Firms
• Photocopy of PAN Card (copy and photograph clearly visible).
• Shop and Establishment Licence (only Registered Shop and Establishment Licence will be accepted).
Proof of residence:
• Bank statement no more than three months old with stamp and signature (bank letter confirming the name of the client, address and account number if not on the letterhead).
• Photocopy of utility bills (landline, electricity, gas bill – no more than three months old).
• Photocopy of driving licence (valid and not expired).
• Photocopy of passport with full address of the client (address on the passport should be typed and not handwritten).
Bank proof:
• Cancelled cheque.
• Bank statement.
• Office proof with office address and in the name of the firm/proprietor.
• Bank statement no more than three months old with stamp and signature.
• Photocopy of utility bills (landline, electricity, gas bill – no more than three months old).
Proprietary firm registration
Proprietorship Firm
In the case of proprietorship firm, there is no registration required. As there is no procedure to make application for availability of name (as in the case of companies) applicable, you simply have to open a bank account with the name & style you want to work. But if your business is liable for VAT and / or Service Tax registration, then you have to obtain VAT and / or Service Tax registration. Further, for sole proprietorship, no separate income tax PAN is required. The PAN of the proprietor will be the PAN of the firm and proprietor will have to file income tax return in his personal name.
Documents Required for Proprietary Firms
• Photocopy of PAN Card (copy and photograph clearly visible).
• Shop and Establishment Licence (only Registered Shop and Establishment Licence will be accepted).
Proof of residence:
• Bank statement no more than three months old with stamp and signature (bank letter confirming the name of the client, address and account number if not on the letterhead).
• Photocopy of utility bills (landline, electricity, gas bill – no more than three months old).
• Photocopy of driving licence (valid and not expired).
• Photocopy of passport with full address of the client (address on the passport should be typed and not handwritten).
Bank proof:
• Cancelled cheque.
• Bank statement.
• Office proof with office address and in the name of the firm/proprietor.
• Bank statement no more than three months old with stamp and signature.
• Photocopy of utility bills (landline, electricity, gas bill – no more than three months old).
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