There is no mechanism provided by the Government of India for the registration of a Proprietorship. Therefore, the existence of a proprietorship must be established through tax registrations and other business registrations that a business is required to have as per the rules and regulations and open Current account. All banks have their own list of documents and generally accepted documents are:
- Goods & Service Tax (GST) Registration (Normally all bank accept this). Once you taken you have to charge the GST and file the GST return on monthly basis.
- Professional Tax Registration (Limited bank accept this so need to confirm with your banker first. Once you taken the number you have to pay Rs. 2,500/- per year.
- Shop and Establishment intimation letter (Limited bank accept this so need to confirm with your banker first) for less than 10 employees and certificate (Normally all bank accept this) for more than 10 employees
- Udyog Aadhar (Limited bank accept this so need to confirm with your banker first)
- CA Certificate (Limited bank accept this so need to confirm with your banker first)
Normally, we need any 2 documents for Proprietorship Firm
Benefits of Proprietorship Firm
Shop & Establishment Registration based on Number of Employees and Year of validity
Register Your Proprietorship Firm In India