Sole Proprietorship
When a business is owned by one person, it is a sole proprietorship firm. It is the simplest form under which a company can operate.
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Why Should You Register For A Sole Proprietorship?
A Sole Proprietorship provides maximum privacy to its owners and has an
easy establishment and operational process.
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Step 1
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Step 2
Receipt of Registration
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Step 3
What is a Sole Proprietorship?
When a business is owned by one person, it is a sole proprietorship firm. It is the simplest form under which a company can operate. This business does not have any separate identity under the law. It can also be operated under the name of its proprietor. The existence of a sole proprietorship firm can be confirmed by registration for Shop & Establishment license, GST Registration (if required) and MSME registration.
Checklist for Sole Proprietorship Registration
- A certificate/license issued by Municipal authorities under the Shop & Establishment Act.
- The license issued by Registering authorities like the Certificate of Practice is issued by the Institute of Chartered Accountants of India.
- The registration/licensing document is issued in the name of the proprietary concern by the Central Government or the State Government Authority/ Department, etc,
- The banks may also accept the IEC (Importer Exporter Code) issued to the proprietary concern by the office of the DGFT as an identity document for opening of the bank account etc,
- Complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated and acknowledged by the Income Tax Authorities,
- The utility bills such as electricity, water, and the landline telephone bills in the name of the proprietary concern,
