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About This Plan
Proprietorship firms are the simplest type of business firms, where the responsibility of the operations lies solely on the shoulders of the owner. If you have a small capital, then this is the most cost-effective way of business. This plan is suitable for everyone who wants to run a small business.
Prices may differ according to your capital during the incorporation. The applicable price shall be informed to you by our tax expert during consultancy.
Services covered under this plan
- Interactive sessions with All India ITR’s Tax Experts
- If the Proprietor’s PAN is not available, application for PAN will be made
- Registration under the Shop and Establishment Act as well as GST Act
- IEC Code for Proprietorship concerns
- Advisory on any other Government Registration that is applicable
Who can buy this plan?
- Service Providers who provide the services to the clients online and offline.
- Businesses that manufacture goods
- Traders and merchants that sell goods
How the Plan works?
- Buy the Plan
- Consultation with the All India ITR’s Tax Expert
- Upload the documents in the space provided
- Registration Certificate receipt
Information menu
Documents Required
- Proprietor’s PAN Card
- Proprietor’s Address Proof
- Specimen signature
- Passport Size photos of the Proprietor
- Personal monthly bank statements
- Cancelled cheque of Bank Account
- Registered office Address Proof - Electricity Bill along with rent agreement or ownership proof or NOC
- Aadhaar Card of the proprietor
FAQs
What is a Proprietorship Firm?
A proprietorship firm is a business that is solely owned and run by the individual. The owner and business are treated as the same. The proprietor is fully responsible for any business debts and may have to use personal assets to settle them. As there is no specific act governing proprietorships, registration is not mandatory.
Do Sole traders need TAN Registration?
TAN is required if you have deducted tax at source on behalf of the Income Tax Department. However, not every proprietor needs a TAN.
What are the things on which Shops and Establishments Act mainly focuses?
The Act ensures uniform working conditions by laying down rules regarding the work environment, employee benefits, and operational conditions in various establishments like shops, commercial establishments, hotels, restaurants, theatres, and other public venues.
When is a Shops and Establishments Act license required?
Every shop and establishment must register under this Act within 30 days of commencing work. This license often serves as proof of a commercial business and is required by many banks to open a current account.
What are the records to be maintained under the Shops and Establishment Act?
Businesses must obtain approval from the Department of Labour and maintain registers for employment details, fines, deductions, advances, salaries, and holidays. The specific requirements may vary by state, and some records must be submitted annually to the Municipal Corporation.
Reviews
Excellent team and services
I liked the response time of the team. They are great. Will surely use their services for the next return as well. As far as the app goes, I think it is simple but clean. Great job guys!
