A sole proprietorship is a business that belongs to a person who single handedly goes into the business. It is a very common kind of business in India as sole proprietorship businesses of a wide range can be easily found here. In order to run a sole proprietorship, one is not required to register with any government agency. Also, sole proprietors and their business have no separate identity independent of each another. This brings in to the market the personal assets of the sole proprietor in case of debt.

Although this type of business doesn’t need any registration with Government, there are some legal formalities and business licences that are to be acquired in order to set up a Sole proprietor business. This can be quite a tedious task for many as these processes are purely legal ones that require a lot of paper work. The process are listed below.

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DBA Registration

EIN, and many others.

Apart from these in order to do any kind of business in India, one has to acquire various business specific licences from various authorities.

For example a PAN Card is mandatory for various reasons like filing income tax return.

TAN [Tax Collection & Deduction Account Number ] is required if you are collecting tax either from the customers or your employees.

One is also required to acquire Service Tax Registration when the total turnover of the business crosses 9 lacs. It is a very essential part of commencing a business and is also very mind numbing for some.

VAT or Value Added Tax Registration is required in cases where taxable goods are brought or sold within a state. However, if you are buying or selling taxable good across different states then it is mandatory for you to obtain CST registration. VAT rules vary from state to state.

In many states, a sole proprietor is also required to posses a Shops & Establishment License

Importer Exporter Code is another document which is issued by Director General of Foreign Trade [DGFT] , Ministry of Commerce, Government of India to Indian to Companies and sole proprietors who are into international business.

Apart from these Employee Provident Fund Registration and ESI (Employee State Insurance) Registration are also asked in many cases.

All this acquiring of permissions and licenses can prove to be a long and tiring process. A lot of business enthusiasts are thus repelled by this aspect of business building. In order to extent a helping hand to such business aspirants, eFilingportal.in has come up with the excellent plan of providing such services to the customers at their door step.

The eFilingportal.in has in this manner revolutionised the business building process in India, by making it extremely easy.

If you wish to gain further information, contact us at www.eFilingportal.in without any delay.



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