HOW TO REGISTER FOR SOLE PROPRIETORSHIP?

The sole possession, as established by the State of India. It is a "one-man company in which a single person owns, manages and regulates the corporation." One of the primary benefits is the ease of training, as government registration is not required.

There are no costs to be charged for beginning a single-man company on your own, and there is no government administrative paperwork and enforcement to be fulfilled. There are no specific capital investment requirements, and the owner has complete autonomy and ownership rights.

Sole Proprietorship Registration can be performed in three ways:

1. Sign in compliance with the Shop and Store Act.
2. Download the Udyog Aadhaar under the MSME Ministry
3. Get a GST registration form.

Opening a single ownership company in India

To start a sole owned company in India, you need only two things.

1. Use your business name.
2. Select a spot as a place to do business.
3. Now you can start doing business lawfully.

Registration for a single property company in India

You don't need to register your sole business in India. However, to accept payments in the name of a company, you need to open your current bank account. To order to do so, you would need evidence of the presence of the firm and evidence of contact. The documents needed include:

1. Pan card and ID for proof of address of the person.
2. Business address evidence (e.g. energy bill on your behalf, electricity bill + registered lease agreement, etc.)
3. Two government identification papers stating the name and address of the company (shop establishment certificate, business tax identification, VAT / CST, etc.)
4. CA Certificate – You can get it from any CA. You can be paid a small fee for sending you a certificate.

Udyog Adhaar

Udyog Aadhaar is a new system of authentication under the MSME Ministry. This replaced the old system of registration in which the EM-I and EM-II types have been used for registration. Now, by applying for Udyog Aadhar, any company can register to take advantage of the benefits for the various government schemes launched by the MSME Ministry.

Registration of GST

You will apply for GST if your annual turnover is more than Rs. 20 lakhs. Also, if you're doing an online business (selling through Amazon, Flipkart, etc.), you're required to get a GST amount. You need the following documents to sign under the GST:

1. PAN ID, photo and Aadhar card of the owner
2. Proof of company position (electricity bill/rent agreement)
3. Copy of bank statements (first page to check bank account number, address and IFSC code)

GST registration is simple and done via the GST portal. The GST number is usually issued within 3-4 days of the submission of the application.