Proprietorship

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Takeover of Sole Proprietorship

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List Of Documents Required







Sole Proprietorship Registration

Shop & Establishment

Registrations

Starting

6000

* Exclusive of Taxes

The Shops and Establishments Act regulates the conditions of work, lists the rights of employees in the unorganised sector and provides a list of obligations for every employer. It is mandatory for every establishment to be registered within 30 days of commencement.

Know More

Frequent questions, quickly answered.

Any Indian citizen with a current account in the name of their business can start a sole proprietorship. However, to open a current account, banks typically require a Shops & Establishments Registration.

A sole proprietorship is a business owned and run by an individual. The sort of registration is required if a person wishes to establish commercial enterprises in india to make his enterprise feature frivolously and legally:

  • Registration as SME
  • Shop and Established order Registration
  • GST Registration

In India Sole Proprietorship registration is executed beneath the MSME Act, GST Act or Shop and Establishment Registration Act. Sole Proprietorship can be converted into partnership and private limited companies at later stage.

It is compulsory for any business whose turnover in a financial year exceeds Rs 20 lakhs (Rs 10 lakhs in the case of North Eastern states) to get a GST registration. For businesses that are involved in selling goods or services to customers out of a commercial establishment, it is mandatory to register under Shops and Establishments Act.

Following returns has to be filed to prescribed authority-

  • Income Tax return
  • GST Return, if registered under CGST Act, 2017
  • If liable for Tax Audit, It is required to deduct TDS and file TDS Return.
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