{"id":4519,"date":"2018-07-18T09:00:46","date_gmt":"2018-07-18T09:00:46","guid":{"rendered":"http:\/\/skale.today\/?p=4519"},"modified":"2018-07-18T09:00:46","modified_gmt":"2018-07-18T09:00:46","slug":"sole-proprietorship-india-register","status":"publish","type":"post","link":"https:\/\/www.skale.today\/content\/2018\/07\/18\/sole-proprietorship-india-register\/","title":{"rendered":"Sole Proprietorship In India &#8211; A Quick Guide to Getting Started"},"content":{"rendered":"<div>\n<h2 class=\"ace-copy-paste-skip-this-tag\">\u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u090f\u0915\u092e\u093e\u0924\u094d\u0930 \u0938\u094d\u0935\u093e\u092e\u093f\u0924\u094d\u0935 \u0938\u094d\u0925\u093e\u092a\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0947 \u092b\u0947\u0938\u092c\u0941\u0915 \u092f\u093e \u0932\u093f\u0902\u0915\u094d\u0921\u0907\u0928 \u0916\u093e\u0924\u0947 \u0938\u0947 \u0932\u0949\u0917\u093f\u0928 \u0915\u0930\u0947\u0902<\/h2>\n<h2>Login with your Facebook or LinkedIn account to find about setting up a Sole Proprietorship In India<\/h2>\n<p>[restrict]<br \/>\nLet\u2019s get right into it. A sole proprietorship may be the easiest firm to start. A proprietorship business and its proprietor legally represent a single entity under Indian law. Due to this, you would be taxed at individual rates instead of corporate. This greatly reduces tax procedures and allows you to file only one personal income tax return.<\/p>\n<p>Here&#8217;s 4 things you can do to get starting your business and get it rolling!<\/p>\n<\/div>\n<h2><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a01.\u00a0<\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>Registering a Sole Proprietorship<\/b><\/span><\/h2>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Your sole proprietorship can be registered at the nearest local municipal corporation office. Ensure that the Shops and Establishment Form is submitted. An undertaking is also required for submission. Registration fees may vary depending on your exact location.<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a0<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Regarding the greater Mumbai municipal corporation area, links to the Shops and Establishment Registration form, undertaking and fee schedule are included below:<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a0<\/span><\/div>\n<ul class=\"listtype-bullet listindent1 list-bullet1\">\n<li><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><a class=\"attrlink\" href=\"http:\/\/www.mcgm.gov.in\/irj\/portalapps\/com.mcgm.acitizenservices_shopsandestablishments\/docs\/formA.pdf\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" data-target-href=\"http:\/\/www.mcgm.gov.in\/irj\/portalapps\/com.mcgm.acitizenservices_shopsandestablishments\/docs\/formA.pdf\">Registration Form<\/a><\/span><\/li>\n<li><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><a class=\"attrlink\" href=\"http:\/\/www.mcgm.gov.in\/irj\/portalapps\/com.mcgm.acitizenservices_shopsandestablishments\/docs\/UNDERTAKING.pdf\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" data-target-href=\"http:\/\/www.mcgm.gov.in\/irj\/portalapps\/com.mcgm.acitizenservices_shopsandestablishments\/docs\/UNDERTAKING.pdf\">Undertaking<\/a><\/span><\/li>\n<li><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><a class=\"attrlink\" href=\"http:\/\/www.mcgm.gov.in\/irj\/portalapps\/com.mcgm.acitizenservices_shopsandestablishments\/docs\/FEESchedule_SNE.pdf\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" data-target-href=\"http:\/\/www.mcgm.gov.in\/irj\/portalapps\/com.mcgm.acitizenservices_shopsandestablishments\/docs\/FEESchedule_SNE.pdf\">Fee Schedule<\/a><\/span><\/li>\n<\/ul>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Lists regarding municipal ward offices in your city are available on your city\u2019s municipal corporation\u2019s website. Also note that during registration of your sole proprietorship, you are required to submit proof of address for the Shops and Establishments registration. If you plan to work from home, then your home address will suffice.<\/span><\/div>\n<h2><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>2. Business Licensing [restrict]<\/b><\/span><\/h2>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">There are different registrations and licenses that are dependent upon your sole proprietorship&#8217;s requirements. Business owners should take note of the following.<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a0<\/span><\/div>\n<ul class=\"listtype-bullet listindent1 list-bullet1\">\n<li><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>The most common: <\/b><\/span><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Shops and Establishments Act<\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">: If you are dealing in physical retail and employment, you would need to register for this.<\/span><\/li>\n<\/ul>\n<div><\/div>\n<ul class=\"listtype-bullet listindent1 list-bullet1\">\n<li><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>CST<\/b><\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>\/<\/b><\/span><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>VAT<\/b><\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b> registration: <\/b><\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">If you plan to be selling goods under your sole proprietorship, then you will need to register for the appropriate CST or VAT license, depending on your state. Registration is applicable if your annual sales exceeds 5 lakhs.<\/span><\/li>\n<\/ul>\n<ul class=\"listtype-bullet listindent1 list-bullet1\">\n<li><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>Professional Tax:<\/b><\/span><b> <\/b><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">If you are hiring employees, then this professional taxation is compulsory. It would be wise to examine state guidelines to determine if this tax is mandatory in your state.<\/span><\/li>\n<\/ul>\n<ul class=\"listtype-bullet listindent1 list-bullet1\">\n<li><span class=\"attrlink url author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><a class=\"attrlink\" href=\"http:\/\/www.servicetax.gov.in\/st-proc-home.htm\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" data-target-href=\"http:\/\/www.servicetax.gov.in\/st-proc-home.htm\"><b>Service tax<\/b><\/a><\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>: <\/b><\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Service tax is also compulsory for sole proprietorship if you are providing a service and annual sales exceeds 9 lakhs.<\/span><\/li>\n<\/ul>\n<h2><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>\u00a03.\u00a0<\/b><\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>Costs Involved<\/b><\/span><\/h2>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">The great thing about running a sole proprietorship is that there are no additional costs. You are required to own a current account under your business\u2019s name, but that\u2019s all there really is. When registering for an account, ask the bank for a form of proprietorship firms and you\u2019re all set. The only other consideration is that the bank may require a proof of address from you.<\/span><\/div>\n<div><\/div>\n<h2><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><b>4. Taxes<\/b><\/span><\/h2>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Your personal <\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"><i>Permanent Account Number<\/i><\/span><i> <\/i><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z h-lparen\">(PAN)<\/span><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\"> will suffice for sole proprietorship taxation purpose. Returns will also have to be filed under your name for Income Tax returns.<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a0<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Corporate tax rates are not applicable as you are not considered a separate entity from your sole proprietorship. The process is incredibly simplistic individual tax rates are applicable.<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a0<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">If you are selling goods, then VAT, Excise and\/or Sales Tax are required. If you are providing a service, then service tax is required. However, these taxes are only required if annual sales exceed 10 lakhs. Furthermore, Professional Tax is required if you employ staff under your sole proprietorship.<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a0<\/span><\/div>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">A final word of advice, avoid using common names for your sole proprietorship name, as you will be required to suffix India or your cities\u2019 name at the end of it.<\/span><\/div>\n<div><\/div>\n<blockquote>\n<div>\n<p><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">Actionable Takeaway: When deciding to embark on your entrepreneurial journey it&#8217;s vital that you are aware of the regulations regarding taxes and registrations, as these may differ depending on your state.<\/span><\/p>\n<p>Now that your sole proprietorship is registered the next step is execution! The success of your business will depend on how well you&#8217;re able to lead yourself.<\/p>\n<p>Find out <a href=\"https:\/\/skale.today\/2018\/07\/08\/7-habits-every-small-business-owner-should-develop\/\">here<\/a> what habits some of the most successful entrepreneurs practice, and how you to can cultivate and incorporate these habits into your daily life.<\/p>\n<\/div>\n<\/blockquote>\n<div><span class=\" author-d-1gg9uz65z1iz85zgdz68zmqkz84zo2qovw8tz69zz71zh21z89zz74zz77zz66zsoy7u3z90zlz78z2z71z7z67ztqd46z80z\">\u00a0[\/restrict]<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u092d\u093e\u0930\u0924 \u092e\u0947\u0902 \u090f\u0915\u092e\u093e\u0924\u094d\u0930 \u0938\u094d\u0935\u093e\u092e\u093f\u0924\u094d\u0935 \u0938\u094d\u0925\u093e\u092a\u093f\u0924 \u0915\u0930\u0928\u0947 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u091c\u093e\u0928\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0905\u092a\u0928\u0947 \u092b\u0947\u0938\u092c\u0941\u0915 \u092f\u093e \u0932\u093f\u0902\u0915\u094d\u0921\u0907\u0928 \u0916\u093e\u0924\u0947 \u0938\u0947 \u0932\u0949\u0917\u093f\u0928 \u0915\u0930\u0947\u0902 Login with your Facebook or LinkedIn account to find about setting up a Sole Proprietorship In India [restrict] Let\u2019s get right into it. A sole proprietorship may be the easiest firm to start. A proprietorship&hellip; <a class=\"more-link\" href=\"https:\/\/www.skale.today\/content\/2018\/07\/18\/sole-proprietorship-india-register\/\">Continue reading <span class=\"screen-reader-text\">Sole Proprietorship In India &#8211; A Quick Guide to Getting Started<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":4521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22,25,136,46,14],"tags":[31,13,273,263],"class_list":["post-4519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entreprenuership","category-offline-retail-services","category-pushads","category-small-business","tag-small-business-advice","tag-small-business-owners","tag-sole-proprietorship","tag-starting-a-business","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sole Proprietorship In India - A Quick Guide to Getting Started - sKale<\/title>\n<meta name=\"description\" content=\"A sole proprietorship may be the easiest firm to start. 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