Trade Name registration

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sankar ponnan (Querist)
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11 August 2020 sir
some body says that proprietorship along with trade name should have local registration.
Let me know what is the local registration?
should the Proprietorship with Trade name be registered?

guide me plz
thanks in adv

CA PARTH SHAH

CA PARTH SHAH (Expert)
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12 August 2020 Generally Proprietorship do not have any official registration authority. Proprietor has to register its business under Shop & Estblishment Act. Its a primary proof of Business.

sankar ponnan

sankar ponnan (Querist)
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13 August 2020 sir
I do not have any separate place for my business. I am doing my trading business at home itself. It is enough for getting licence under Shop & Establishment Act.

CA PARTH SHAH

CA PARTH SHAH (Expert)
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13 August 2020 If you take Shop & Establishment license on your house address, your property will be considered as commercial property and you will have to pay municipal tax at commercial rates. So before taking he licence, you need to keep this point in mind. You may take registration MSME for business poof.

sankar ponnan

sankar ponnan (Querist)
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13 August 2020 In case if it is rental house, what will be the result?

Please guide me sir

CA PARTH SHAH

CA PARTH SHAH (Expert)
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13 August 2020 Property has to be seen either as a residential property or commercial property. If the rented property is a residential property, the the point I mentioned earlier will apply.

sankar ponnan

sankar ponnan (Querist)
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13 August 2020 Ok sir thank u very much.
And, Both of registration i.e under Shop and Establishment Licence Act and MSME is must OR any one is enough.

plz

CA PARTH SHAH

CA PARTH SHAH (Expert)
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13 August 2020 Basically bankers may ask registration certificate of Shop and Establishment Licence Act for account opening. Otherwise MSME is enough.

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