Proprietorship | Consultbcc(Bangalore Consulting Company)

Proprietorship | Consultbcc

It is an unregistered business entity that is owned and operated by a single person. It is best suited for micro and small businesses in unorganised sectors. It has the added advantage of single ownership. It has very minimal compliance requirement for opening, operations or closure. The Government of India has not defined any particular regulation for registration of a Proprietorship. The proof of establishment is GST registration or any other tax registration in the name of the Proprietor. He shall be personally liable for all the liabilities of the Proprietorship. The income tax, if any, generated out of the business shall be taxable in the name of the Proprietor.

Time duration: 3-5 working days

Get your free consultation for proprietorship registration and business setup in India from our Qualified Company Secretary.

Documents required for Proprietorship

1. PAN card of Applicant
2. Address proof of Applicant (Voter ID/Passport/Aadhar/Driving License)
3. Cancelled cheque of Bank Account
4. Registered Office Address Proof- Electricity bill and rental agreement with NOC(If rented) or ownership Proof (Property Tax Paid receipt of the latest period)
5. Passport size photographs of Applicant- 4 numbers
6. Rubber stamp

Steps involved for registration

1. Documents review and consultation
2. GST registration
3. Import Export Code
4. Bank Account opening