List of documents required for Sole Proprietorship Registration in India

Category: Finance

A sole proprietorship registration in Pune is not restricted by any special rules; hence it is the simplest form of business to operate in India. Compliance requirements for sole proprietorships are low and straightforward. A sole proprietorship registration in Pune is a business owned and operated by a single person. A single individual is in charge of the company’s decision-making and management. List of documents required for a sole proprietorship registration in Pune Aadhar Card PAN Card Bank Account Registered office proof Registrations required for a sole proprietorship registration in Pune Registering as SME Shop and Establishment Act License GST Registration Details regarding documents required for a sole proprietorship registration in Pune Aadhar Card In India, having an Aadhar number is currently required for any registration. In addition, a person’s income tax return can only be filed if his PAN card is connected to his Aadhar number. If you don’t have an Aadhar number yet, contact your nearest E-Mitra or AadharSeva Kendra. After applying for an Aadhar card, a hard copy is sent to the registered address in about 15-20 days. PAN Card You won’t be able to file your tax return until you have a PAN. So, if you don’t have a PAN number, get one as soon as possible. PAN cards can be applied online and cost around Rs. 110. You’ll need a scanned photo, proof of identity, and proof of address to apply. The form can be submitted online when it has been verified using Aadhar e-KYC. When a PAN card application is filed, it is verified by NSDL, and if the information is correct, the PAN number is assigned within 7-8 days. In addition, within 15-20 days, a hard copy of the PAN card is delivered to the registered address. Bank Account You can visit any bank to open an account once you have received your Aadhar Number and PAN. You must have identification verification and address proof in addition to your Aadhar number and PAN. You must also present a GST registration paper to the bank officials to open a current account. Documents need to submit as proof of the registered office • For a rented property: Rent agreement and NOC from a landlord. • For a self-owned property: Electricity bill or any other address proof. List of registrations required for a sole proprietorship registration in Pune In count to the documents listed above, the following registrations are required to prove the firm’s existence: Get registered as SME The MSME Act allows you to register your business as a Small and Medium Enterprise (SME). The application can be submitted online. Although it is not required to register as a small business, it is quite useful, particularly when seeking financing for the company. The government offers a variety of loan programs for small businesses, including low-interest loans. Shop and Establishment Act License This license is not required in every location, but it must be obtained by local legislation. The municipal corporation issues it, and it is based on the number of employees. GST Registration If you have an annual turnover of more than Rs. 40 lakhs, you can register for GST. You must also obtain a GST number if you conduct online business (e.g., selling on Amazon, Flipkart, etc.). Conclusion: The following documents are required for GST registration: • Aadhar Card, PAN card, and photo of the proprietor • Proof of business address (electricity bill/ rent agreement) • Bank statement copy (with the first page for verifying bank account number, address, and IFSC code) GST registration is simple and can be completed online using the GST portal. Within 3-4 days after applying, the GST number is usually received. To register a sole proprietorship registration in Pune, contact Legal Way today!