Finance Desk
Proprietorship Firm Registration
Are you looking for Proprietorship Firm Registration Consultant? FinanceDesk is the Best Consultant for Proprietor Firm Registration in India.
The primary requirement for Starting Proprietorship is a PAN Card of Person & Shop Act License.
Basic Need for Proprietorship Registration is a Bank Account in the Name of a Business
Proprietorship Firm Registration
The first question in our mind when we think of doing business is the Process of Individual Proprietorship Business Registration to start a proprietorship Business in India. The simplest way to Start a Business in India is to start a proprietorship. A proprietorship Business Runs with Individual Name and Does not require any separate Business entity registration. PAN of an Individual is sufficient for Proprietorship. However, Depending on Business Activity Proprietor is Required to Obtain a certain Business Licenses and Tax Registration Number.
Are you want to start a Business with a small level of investment? Proprietorship Firm Registration is the best way to start. Consult us now
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Income Tax Audit Features and Criteria
- Almost Zero Formation Cost
- Easy Obtainable Documents for Proprietor
- Individual Person can start small business with low investment
- Cheaper Compliance Management Cost
- Easy Closure of Business
- Specific License Required ; No GST Upto 40 Lakhs Turnover
What are the Registration and License required by New Proprietorship Firm?
- Some Registration are Mandatory, where some license are based on applicability.
- GST Registration – Required If Turnover of Firm crosses the Rs. 20 Lacs Limit in Financial Year.
- TDS Registration – If Firm Required Audit as per Income Tax.
- PF Registration – If Proprietor ship firm have more than 20 Employees.
- ESIC Registration – If Organization have more than 10 Employees.
- Import Export Code/License – If Proprietor Wants to do Import Export Business.
- Professional Tax Registration – Mandatory for Each Business (Depend on State and Municipal Corporation Policy)
- Shop Establishment (Gumasta) – Mandatory for Each Business (Depend on State and Municipal Corporation Policy)
- Food License (FSSAI) – If Proprietor Firm Engaged in food business.
- SEBI License – For Brokerage Firm, Advisor Etc.
- MSME – Optional Can be Obtained.
FAQ's on Proprietorship Firm Registration
No, the PAN Card of the Proprietor/Owner is considered as Proprietorship Business PAN Number. NO Separate PAN Card is Required.
Yes, You Can Start Multiple Businesses with Different Trade Names in Different Proprietorship of a Single Person. There is no restriction on the number of proprietorship registration.
All the Licenses and Registration as per need can be obtained by Proprietor.
- GST Registration – If Turnover is cross the Rs. 20 Lacs Limit
- TDS Registration – If Firm Required Audit as per Income Tax.
- PF Registration – If Proprietor ship firm have more than 20 Employees.
- ESIC Registration – If Organization have more than 10 Employees.
- Import Export Code/License – If Proprietor Wants to do Import Export Business.
- Professional Tax Registration – Mandatory for Each Business
- Shop Establishment (Gumasta) – Mandatory for Each Business
- Food License (FSSAI) – If Proprietor Firm Engaged in food business.
- SEBI License – For Brokerage Firm, Advisor Etc.
Depends on Banks Internal Policy. Mostly, documents are
- Photo of Proprietor
- Business Seal
- PAN Card of Proprietor
- Any Government Registration Proof of Business (if Any Like GST, MSME, TAN, etc)
- if Government proof is Not Available, CA Certificate of Business may be used in some banks.
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