Sole proprietorship firm Registration in India
Sole Proprietorship Need Minimum 1 Person for the Registration. The person called sole proprietor. a sole proprietor is the owner of the business. Sole Proprietor can be hired also someone to running their business as the employee but can'nt authorised signatory for the legal documents signing purpose.
Sole Proprietorship Firm consist a lot of things required different type of the registration like GST Registration | MSME Registration | Chartered Accountant Certification | Gumasta License or Shop Act license etc so as per government of India rules there is no proper business registration for sole proprietorship firm. Let's understand below in the simplified manner
Local License Registration as Sole Propreitorship Firm
Local license are issued by the local or area govt or central government of the same. In the local license there are lot of the type of the license are included like shop act license or MSME Registration or CA Certification or Income Tax Return etc. so you have to required only the minimum 2 anyone below certification or license to open a bank account -
a) MSME Registration - MSME Registration refer to small and medium business enterprise. From the Sept 2015 government simplified the MSME Registration by filings of the online application with the documents. MSME Department are authorised to prepare the guide license for the small business and provide them subsidy or loan like pradham mudra bank loan etc.
b) Chartered Accountant Certification - CA Certification is issued by the only the authorised practicing chartered account which have proper registered firm with the ICAI and Membership number. CA just verify the all documents of the propreitor and provide a certification to open a current bank account.
c) Shop act License or Gumasta License - Shop act license or gumasta license are issued by the municipal party in the same area. its is requried the commercial shop or office where you want to start the business. Its issued on the number of the employees and on renewal basis for the same.
d) Business ITR - business income tax returns are consist the Form ITR 4 or ITR 4s with business name and proper business income which is required by only some private banks to open a current bank account.
Documents Required for Firm Registration
PAN Card of the sole Proprietor.
ID Proof and Address Proof of the sole Proprietor as Adhar Card, Driving License or passport etc.
Rent Agreement, No Objection Certification or Electricity bills of the property where you want to register the business.
if Proprietor has owned property the it needs sales deed copy or electricity bills.
Bank Statement copy or cancelled cheque copy.
Passport Size Photograph
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