Hope you are enjoying our write-ups. Through this post you will get complete information about “HOW TO REGISTER SOLE PROPRIETORSHIP FIRM”. The key information and details are:-
First of all, before going to start your business in INDIA, you must have knowledge about what kind of entity suitable for you?
You can decide this on the basis of three things. Details are:-
- On the basis of your budget
- On the basis of tax savvy provisions and
- On the basis of government scheme available for New Entrepreneurs
There are various forms of business entities in India:-
- Sole proprietorship
- Partnership firm
- One person Company (OPC)
- Private Limited Company
- Public Limited Company
- Unlimited Company
- Limited Liability Partnership (LLP)
- Liaison Office
- Branch Office
- Project Office
- Subsidiary Company
Sole proprietorship – Sole proprietorship is a oldest form of business entity where a single individual handles the entire business organization. He is the sole recipient of all profits and bearer of all loses. There is no separate law that governs sole proprietorship in India.
You can start your sole proprietorship by follow this process:-
- Select one attractive name of your entity.
- Go for registration of shop and establishment act. (Optional)
- Go for registration of MSME. (Optional)
- Go for registration of GST. (Optional)
- Hire a professional to save time and legal issues.
- Open a bank account and start your business.
- Some other registration required like TAN registration, PF/ESI, IEC and Others.
- Trademark Registration.
- Website Development.
As per market trend professional charges for quoted registrations are:- (Only for Information)
- Shop & Establishment Registration – Rs 2500 to Rs 5000/-
- MSME Registration – Rs 3000 to Rs 5000/-
- GST Registration – Rs 3000 to Rs 5000/-
- Tan Registration – Rs 500/-
- Pan Registration – Rs 500/-
- PF & ESI Registration – Rs 10000 to Rs 15000/-
- IEC Registration – Rs 5000 to Rs 6500/-
- Trademark Apply Charges – Rs 3500 to Rs 5000/-
- Website Development Charges – Rs 5000 to Rs 10000/-
Government charges are vary case to case and state to state.