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You've jumped into the business world for yourself. You don't have excess paperwork to start a sole
proprietorship. But there are some important things you need to know before starting your journey in
entrepreneur’s world.
If you're into business and haven't created a formal business structure, then probably you're already working as
We'll collect all your documents and file them directly with the authority
Passport-sized photographs
PAN Card
Rental agreement or sale deed (in case of Shops & Establishment Act Registration).
Benefits:
Taxes
All business profits are personal income for a proprietor and pay self-employment tax on those profits.
order to run a proprietorship business, a little more preparation will definitely go a long way.
Business Licenses
There are different registrations, licenses and permits to start your business. For example, to start your food
business as a proprietorship, you might need to register with FSSAI or get FSSAI License.
Tax Advice
To Prepare & file business taxes can be complicated. Our expert CA/CS will help you to prepare and file tax
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FAQ`s
Indian citizen
Documents required to open a current account in the name of business
As per industry standards, it’s up to 15 business days but being expert in the industry, we complete the process within 7-10
business days, unless some objection is raised by the authority.
There are multiple scenarios. For example, if you are running a departmental store and your annual turnover is greater
than 5 Lakhs, then you need to register for GST.
In case of AC restaurant its mandatory to get GST registration
Local businesses like Grocery store, fast food, small traders / manufacturers etc.
Jewelry shops are not recommended to register under this category.
You can always choose to restructure your business at any point of time. Whenever you decide your business might be
outgrowing its status as a sole proprietorship
whether you're looking to take on partners or investors, or you want the benefit of different tax options and liability
protection
we have expert resources to help you find the business structure that's right for you.
Legal Guide
Download free legal guide on how to successfully start and manage business in India & achieve 100%
compliance.
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