What is Proprietorship Firm Registration
A Sole proprietorship may be a business that is claimed, overseen, and controlled by a solitary individual it’s one among the foremost widely known sorts of business in India, employed by small businesses operating within the unorganized sectors.
Sole Proprietorship Registration is perceived by different registrations, like a service or sales tax registration. It has an excessive number of shortcomings, like the unlimited liability of proprietor, and it does not have a ceaseless presence. Therefore it’s considered by small merchants and brokers as a business structure. Sole Proprietorship Registration is completed by GST SHINE.
Documents Required for Sole Proprietorship Registration
Why Sole Proprietorship Registration?
Procedure For Sole Proprietorship Registration
Frequently Asked Questions
The Proprietor must be an Indian citizen and a Resident of India.
Proprietorship firms do not have a Certificate of Incorporation.
There is no limit on the minimum capital for starting a Proprietorship. Therefore, a Proprietorship can be started with any amount of minimum capital.
To open a bank account for a Proprietorship, Reserve Bank of India mandates that the proprietor must provide two forms of registration for the Proprietorship firm along with the PAN Card, identity proof and address proof of the Proprietor. The two forms of registration can be any two of the following: service tax registration, MSME registration, VAT/TIN/CST registration, Shop & Establishment Act registration, Professional license, Chartered Accountant certificate or others as provided in the RBI Know Your Customer norms.