What is proprietorship?
A sole proprietorship simply means a single owner. For example, an ice cream shop that you only own. It is a one-man organisation where a single individual owns, manages and controls the business.
The Government does not require separate registrations for a Proprietorship and it is established by obtaining tax registrations and other business registrations as per the applicable rules and regulations.
We at SDM Associates can help you by obtaining the relevant registrations suiting your business needs.
This is how we do it.
- First we check what business you are in.
- Then looking at the nature of your business, we suggest the type of registration required.
- We will not only tell you what registration you should get, we will also do it for you.
So how much time does all this take?
- GST Number: 7 to 10 business days as this depends on the state government’s approval.
- MSME Registration: 10 to 15 days because the same, we need the approval of the government.
Documents required for Proprietorship
Related to Proprietor:
Bank account details
- Copy of Cancelled cheque
- Bank statement
- First page of Passbook
Proof of Principal Place of business :
- Owned office: copy of utility bill/ Property Paper
- Rented office : Rent agreement copy/ NOC from the Landlord
n this age of fierce competition, everyone wants to expand their business from domestic market to international market. Enterprises can enter in global market either with existing product or new product. ” However before going global, you need to follow several procedures and laws place and get different registration and license. IEC (Import Export Code) license is one of such prerequisite when you’re thinking of importing or exporting from India.
In a developing country like India, MSME industries are the backbone of the economy. The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all industrial units of the country and more than 6000 types of products are manufactured in these industries