July 21, 2016

PROPRIETORSHIP FIRM REGISTRATION SINGLE PERSON

Start Proprietorship Firm :

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Key Features of Proprietorship Firm

  • 1 Person Required as Single Entrepreneur.
  • Single Owner of the Business.
  • Easy to Start and Easy to Close.
  • Complete Control.
  • Lower Cost of Formation and Compliance.

Disadvantages of Proprietorship Firm

  • Lack of Resources.
  • Unlimited Liability.
  • Lack of Credibility.
  • Can not raise funds easily.
  • Can not add Partners.


These type Business are providing services Online and Offline to users.

Proprietorship Firm has been different for a serviced based business and a product based business. so we divided business in 2 Category.
  1. Service Based Business –

Example are – Website Development/Digital Marketing/Consulting/ECommerce Marketplace/Marketplace Business Models/Tickets and Hotel Bookings/Classifieds Websites.

So Service Based Business have to take following action to register under the Sole Proprietorship Registration :-
a) Apply for the Service Tax Registration.
b) Open a current bank account on the basis of Service tax Registration Certificate.

Note : Service tax Registration Certification is need after the 9 lac Rupees turnover limit but in the case of sole proprietorship firm banks always ask for a legal proof so you have to show service tax Registration Certificate or any other local registration like Shop Act License so we always recommend for the Service tax registration certificate.


2. Product Based Business –

These type Business are selling any product to customers through a website or offline. They are selling as Reseller or like a Manufacturer (VAT applicable products) to the consumer.Example are- ECommerce Website/Importer/Exporter/Selling on ECommerce Marketplace i.e Flipkart/Snapdeal.

So Product Based Business you have to take following actions :-
a) Apply for the VAT/CST Registration from your State Government.
b) Open a current bank account on the basis of VAT/CST Registration Certificate.

Documents Required

  • Identity Proof of Proprietor
  • 3 Photographs of Proprietor
  • Address Proof of Proprietor
  • Address Proof of Proprietorship
  • if self owned then copy of Electricity Bill / Property Tax Receipt / Sale Deed
  • if rented then NOC from Landlord, Rent Agreement, Electricity Bill / Property Tax Receipt / Sale Deed of Landlord
  • Cancelled Cheque
  • List of Goods to be dealt in along with goods required for packing, if any

Registrations required as per other statute:-

Registration under Shops and Establishment Act: This is state specific requirement, in some states it is mandatory and in some it is optional, for example in the Delhi NCT it is optional.

Local Municipality Registration: This kinds of registration is mandated by some of the municipalities and applies to the firms operating in the territorial jurisdiction of the municipality.

Sales Tax (VAT) Registration: This is a tax on sale of goods within the state which is governed by the respective vat act of the state.

Central Sales Tax Registration : This is a tax on Sale of goods between the states, which is governed by the central sales tax act

Service Tax Registration: This is a tax on the services provided by the proprietor apart from the negative list of service.

Import Export Code: This is also known as IEC, and is pre-requisite before the proprietorship ventures in to any import or export

Trade Mark Registration : Brand Name, Logo, Slogan, Label etc.; are intellectual properties which acquires value over a period of time and it is advisable to protect them under as trade mark

Provident Fund Registration: The moment number of employees exceeds 20 the proprietor is required to get itself registered with the regional office of the Provident Funds Organization. The contribution rate is 12% each from employee as well as employer

Employee State Insurance Corporation (ESIC) Registration: Every organization including the proprietorship concerns employing more than 10 employees having salary more than 15000/- is required to get themselves registered with the concerned Regional office of the ESIC, the contribution to the ESIC is 6.5% wherein 4.75% is contributed by the employer and 1.75% is to be contributed by the employee

Other Need Based Registration: The firm may be required to get themselves registered into various other departments like excise, customs, SSI etc.

PROPRIETORSHIP FIRM REGISTRATION

Proprietorship Firm

A Proprietorship Firm required at least one member in order to register, the members can be a  Proprietor  of the firm. A Proprietorship Firm can have upto 1 person as members as per the Registration Act, 1908.

In a A Proprietorship Firm there should be minimum person required. To become a A Proprietorship Firm to be obtained. A Proprietor must be a Resident of India, who has stayed at least 182 days in the previous calendar year.

FAQ’S

FAQ Series on Sole Proprietorship Firm

a) Can I Register my Firm on the Home Address ?

Yes, You can Register your residential address.

b) What Documents Required For the Firm ?

Just Basic documents like PAN Card, Voter id or adhar card and electricity bills or rent agreement and NOC from landlord.

c) How Much Cost Regarding the Service Based Firm Registration ?

Our Package Start From Just Only 2999/- Rupees with 5000 INR Worth Free Startup Services. Place the Request and Get Customize Quote, We always startup friendly.

d) How Much Cost Regarding the Product Based Firm Registration ?

Its Depend on the state wise due to VAT/CST or Shop Act License. Its Require our physical presence which is right now in Most of the Metro Cities.

e) How Much days taken regarding the Firm Registration ?

Its take minimum 5 to 7 Days or more depend on state wise government department process.

f) How BM Comptax Process the Registration ?

Just Send us Soft Copies, Rest things are done by Our Team.

g) Why I Choose BM Comptax?

BM Comptax is a legal startup which is trusted by more than 2000+ India’s promising startup. its give you online legals services which are easy, startup friendly, affordable pricing as compare to Traditional offline Legal Services. Checkout Reviews

Registered Office Proof

When registering a A Proprietorship Firm , should have a valid address to proof. If you are in Bangalore and you have proper address proof in Pune, then you can register your company in Pune and start your Business operations from Bangalore. This  Proprietorship Firm registration is valid all over India and also valid for your lifetime. No need of renewal of registration is required.

Trade Mark ®| Brand Name | Logo

What is TradeMark ?
A Trademark generally refers to a “brand” or “logo”.
Example Snapdeal is Trademarked Brand of Jasper Infotech Pvt Ltd.

Use of TM, SM and ® symbols
‘TM’ stands for Trademark.The use of TM and SM symbols notifies the public that the company is claiming exclusive ownership of the trademark and can generally be used by one who has filed a trademark application.
The ® symbol, can be used only once the trademark is registered and the registration certificate is issued. Also, you may use the registration symbol only in connection with the goods and/or services in respect of which the trademark is registered.

Tin | VAT | CST

( For Trades Local & Inter State )

A Proprietorship Firm required at least one member in order to register, the members can be a  Proprietor  of the firm. A Proprietorship Firm can have upto 1 person as members as per the Registration Act, 1908.

Service Tax No. ST-2

( For Service Sector i.e., IT, HR, Consultancy etc.)

In a A Proprietorship Firm there should be minimum person required. To become a A Proprietorship Firm  to be obtained. A Proprietor must be a Resident of India, who has stayed at least 182 days in the previous calendar year.

Import Export License

( For Importer & Exporters )

When registering a A Proprietorship Firm , should have a valid address to proof. If you are in Bangalore and you have proper address proof in Pune, then you can register your company in Pune and start your Business operations from Bangalore. This  Proprietorship Firm registration is valid all over India and also valid for your lifetime. No need of renewal of registration is required.

Drug License

For Pharmacy ( Whole Sale & Retial , Manufacturing License )

Naming your company is the crucial part, a company name has two parts Prefix and a Suffix. Prefix must be unique and different, while Suffix should reflect the business nature of your company. To find your name availability, kindly check with Ministry of Corporate Affairs | IPR…

MSME ( AADHAR )

( For all Sectors available all times free of Cost from Udgyog Aadhar Website)

A Proprietorship Firm required at least one member in order to register, the members can be a  Proprietor  of the firm. A Proprietorship Firm can have upto 1 person as members as per the Registration Act, 1908.

NSIC

( For getting EMD Free in Tendering & Loans)

In a A Proprietorship Firm there should be minimum person required. To become a A Proprietorship Firm  to be obtained. A Proprietor must be a Resident of India, who has stayed at least 182 days in the previous calendar year.

EXCISE ( Manufacturers)

(For All Manufacturing Business)

When registering a A Proprietorship Firm , should have a valid address to proof. If you are in Bangalore and you have proper address proof in Pune, then you can register your company in Pune and start your Business operations from Bangalore. This  Proprietorship Firm registration is valid all over India and also valid for your lifetime. No need of renewal of registration is required.

Provident Fund & ESI

( For Human & Security Companies )

Naming your company is the crucial part, a company name has two parts Prefix and a Suffix. Prefix must be unique and different, while Suffix should reflect the business nature of your company. To find your name availability, kindly check with Ministry of Corporate Affairs | IPR…

ITR Filing

(We provide ITR/Income Tax Return Filing services to all types of Assessee at reasonable cost. The various type of ITR form along with the due date for such filling is as follows:-

ITR 1- This form is required to be filled by an Individual having income from salary & Interest. The Due date of filling of ITR 1 is 31st August of the following financial year ( for financial year 2015-16 the due date is 31st August 2016)

ITR 2- This form is required to be filled by an Individual or HUF not having income from Business or Profession. The Due date of filling of ITR 2 is 31st August of the following financial year ( for financial year 2015-16 the due date is 31st August 2016).

NSIC

( For getting EMD Free in Tendering & Loans)

In a A Proprietorship Firm there should be minimum person required. To become a A Proprietorship Firm  to be obtained. A Proprietor must be a Resident of India, who has stayed at least 182 days in the previous calendar year.

EXCISE ( Manufacturers)

(For All Manufacturing Business)

When registering a A Proprietorship Firm , should have a valid address to proof. If you are in Bangalore and you have proper address proof in Pune, then you can register your company in Pune and start your Business operations from Bangalore. This  Proprietorship Firm registration is valid all over India and also valid for your lifetime. No need of renewal of registration is required.

Provident Fund & ESI

( For Human & Security Companies )

Naming your company is the crucial part, a company name has two parts Prefix and a Suffix. Prefix must be unique and different, while Suffix should reflect the business nature of your company. To find your name availability, kindly check with Ministry of Corporate Affairs | IPR…

Cost of Service for Proprietorship Registration:

Professional Fee– 1,999/-
Government Fees– 3,000 /-
Price–4,999 /-
TIN NO.: 3,500
SERVICE TAX : 2,500
MSME : 2500
NSIC: 10000
PF & ESI: 10000


Taxes Extra*

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