if you want to start a new online or offline business, sole proprietorship firm is the best option for you. its a very simple business formation for small entrepreneurs who want to test their ideas or start with small capital with low cost of formation.
Steps for register sole proprietorship firm in india for Startups
Key Features of Proprietorship Firm
So as per convenience of the readers we can divide business in the 2 Categories.
a) Services Based Business b) Product/Manufacturing/Trading Business
a) Service Based Business -
These type Business are providing services Online and Offline to users. Example are - Website Development/Digital Marketing/Consulting/ECommerce Marketplace/Marketplace Business Models/Tickets and Hotel Bookings/Classifieds Websites or any other type of business which providing the major activities as services Only.
so as a Service Based Business mainly need thing open a current bank account.
Documents Required : It's required the basic documents of the sole proprietor or owner of the firm :
a) Pan Card Copy of the propreitor ( its is mandatory)
b) Aadhar Card | Voter Id | Passport | Driving License (anyone for personal address proof)
c) Firm Address Proof ( Residential or Commercial) :
1. if premise is on rent - it's required the electricity bill copy on the landlord name and rent agreement copy. (anyone).
2. if premise is own - it's required electricity bill copy or any sale deed copy (anyone).
3. NOC ( No Objection Certification from owner of the premise, format is provided by "myonlineca")
Costing : Cost are the depend on professional to professional. as per our research in the market its cost nearby 3500-7000/- INR offline. if you done online with India's No. 1 Portal "MyOnlineCA" then its reduce your cost throughout the automation with the awesome freebies offer.
Just fill up below Request form to get the quote instantly on your Email for the service based firm.
b) Product/Manufacturing/Sales/Trading Business -
These type Business are selling any product to customers through own website or offline. They are selling VAT applicable products to consumer so these type startups or small business fall in this category.
Example are- ECommerce Website/Importer/Exporter/Selling on ECommerce Marketplace i.e Flipkart/Snapdeal or offline trading business like wholesaler or retailers or suppliers etc.
so as a Product or Sales category business needs anyone minimum two things -
VAT Registration is State wise so it's Procedure very state to state.
Documents Required for Product based Firm Registration :-
How to Register Proprietorship Firm Online ?
a) For the Service Tax Registration or MSME or CA Certification we highly recommend MyOnlineCA Which registered regular more than 100+ Firms in a month Online through automation platform. you can Checkout our Reviews here on Facebook where many Small firms give their feedback on the online registration.
b) For the VAT/CS Registration or Shop Act License in some state user can apply online but again problem is there is complex online procedure and during the verification officers takes the bribe or raise the issues. so so we recommend take the help from a any localone CA or Tax Consultant for the same.
We also Recommend to Watch this Video in Hindi where you got the idea about the How to Register a Sole Proprietorship Firm in India.