PROPRIETORSHIP

Proprietorship is the most primitive form of business. This exists with the owner and all liabilities of this business travels with the owners. In India there is no such any law to register proprietorship. For tax assessment such type of entity is registered to the government i.e. Income Tax Department.  The earning of the business are taxed at the individual level, whether or not they are actually in cash. There is no vehicle for sheltering income. No separate income tax PAN is required for Proprietorship. The PAN of the proprietor will be the PAN of the firm and proprietor will have to file income tax return in his personal name. But if you are liable for Goods and Services tax registration, then you have to obtain GST registration.

Documents Required

1. Pan
2. Colour photo
3. Identity Proof (Aadhar/Voter ID/DL/Passport)
4. Residential Proof (Utility Bill as Electricity Bill/Telephone Bill/Gass Bill/Bank Statement)
5. Agreement or Proof of Business Office
6. Type of Business