CA
89 Points
Joined February 2016
"As a sole proprietor, main objective of the firm is opening a current bank account on the name of business. so basically most of the banks ask for any legal certification for the business.
a) Service Based Business - These type Business are providing services Online and Offline to users. Example are - Website Development/Digital Marketing/Consulting/ECommerce Marketplace/Marketplace Business Models/Tickets and Hotel Bookings/Classifieds Websites.
1.Service Tax Registration Certification( ST registration required if the turnover crosses 10 lacs)
2.Chartered Accountant Certification regarding nature of business
Documents Required for registration as Proprietorship Firm :-
- ID and Address Proof as Pan Card/Passport/Voter ID/Aadhar Card/Driving License Copy of the Proprietor.
- One Business Place Address proof :-
- if Property on Rented :- Need Rent Agreement and NOC from Landlord.
- if Property is own :- Need Electricity Bills or any other Address Proof.
Note : Proprietor Business place and home place can be same
VAT Registration is State wise so its very state to state.
- For VAT : - Needed Security Amount as Fixed Deposit or needed minimum two surety of dealer which already registered in that state VAT Registration.
ST registration required if the turnover crosses 10 lacs
It’s better to meet Chartered Accountant for registration procedures and all."