What Is Sole Proprietorship Firm Registration
Meanwhile Desperately Wandering The Web For Proprietorship Registration! At LeadingFile, our professional & experts will first understand your business ideas and thereafter, will provide you the concerned firm registration information.
Well, Sole Proprietorship Firms Registration is one of the most commonly seen business types in India. However, this registration is a single person firm registration, the main objective of the same is to open a current bank account in the name of a business.
Hence, it is simply a firm which enables doing the business in our country with less compliance and least costing. Along with this, a Sole Proprietorship Firm Registration need minimum two legal entity proofs for opening a current bank account; which are as follows:-
- A GST registration certificate as proprietorship entity, and
- An MSME registration certificate along with chartered accountant business certification.
However, to register your proprietorship firm registration you need to first select the legal entity certification better fits on you, because, the above certification have their own conditions; which are as follows:
A GST Registration Certificate As Proprietorship Entity
This certification is only applicable to the below-shown condition:
- Deals within the state only,
- Expected turnover or sales less than 20 lakh rupees.
An MSME Registration Certificate Along With CA Business Certification
This certification is applicable to any of the below-shown condition:
- Traders or Dealers or Mfg or Aggregator,
- Deals within inter-state sales or services,
- Business based on Internet or E-commerce,
- Expected turnover or sales more than 20 lakh rupees.