Sole Proprietorship Registration

Filling out the form is quick and easy and will provide you with numerous benefits in the long run. By this, you will be able to get consultation from our Auditorwala CA/CS and will be able to get Guidance. So, why wait? Take the first step towards a bright future for your business and fill out the form today.

Here are the List of documents required for Sole Proprietorship Registration.


1. Address and identity proof
2. PAN card, KYC documents and
3. Rental agreement or sale deed (in case of Shops & Establishment Act Registration).

What Are The Documents Required For Opening A Current Account?
1. Proof of the existence of your business
2. Shops & Establishments Act Registration
3. PAN card
4. Address and Identity proof

Compliances needed for Sole Proprietorship Registration.

Income Tax Return Filing

Business Income

GST Return Filing

TDS Returns

A certificate/license issued by Municipal authorities under the Shop & Establishment Act.

The license issued by Registering authorities like the Certificate of Practice is issued by the Institute of Chartered Accountants of India.

The registration/licensing document is issued in the name of the proprietary concern by the Central Government or the State Government Authority/ Department, etc,

The banks may also accept the IEC code (Importer Exporter Code) issued to the proprietary concern by the office of the DGFT as an identity document for opening of the bank account etc,

Complete Income Tax return online (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated and acknowledged by the Income Tax Authorities.

The utility bills such as electricity, water, and the landline telephone bills in the name of the proprietary concern

Issue of GST Registration/Certificate.

Some of the Advantages Sole Proprietorship Registration.

• Easy to set up
• Complete control
• Fewer compliance requirements
• Minimal capital investment
• Personal liability protection

The basic requirements for sole proprietorship registration in India are:

• Choose a unique business name
• Obtain necessary business licenses and permits
• Obtain a PAN card
• Register for GST (if applicable)
• Open a separate bank account for the business
• Provide a valid proof of business address
• Obtain a business registration certificate (optional but recommended)

Any Indian citizen with a current account in the name of his/her business can start a sole proprietorship. Registration may or may not be required, depending on the type of business that is planned to be established. However, to open a current account, banks typically require a Shops & Establishments Registration.

A Sole Proprietorship business does not take more than 15 days to set up and start functioning. This simplicity makes it popular among small traders and merchants. It's also much cheaper, of course. This is the other reason why it's the most widely used business structure.

Most local businesses are run as sole proprietorships, from grocery stores to fast-food vendors, and even small traders and manufacturers. That is not to say that larger businesses cannot operate as sole proprietorships, they can! Jewellery shops are sole proprietors, but it is not recommended.

Yes, it is much cheaper to run an LLP than a private limited company. Mostly because compliances, such as an audit, apply to LLPs only after their turnover is sizable. Most LLPs spend about half as much as private limited companies, in their first year on registrations and compliance work.

The procedure involved is a little tedious, but it is possible. It is very common for sole proprietors to convert into partnerships or private limited companies at a later stage of their businesses.