What is the procedure for registration of Sole proprietorship Law firm

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To start sole proprietorship business in India the Income tax PAN card, Current Bank Account in the name of the business you want to do to be operated by you as Proprietor & Registration with the Government Department where the trading business you want to do is required. In case this being service providing business the registration for service tax with revenue department will be required, similarly if this will be with regard to sale of goods the registration for the VAT will be required with the local State government. If this being operated from a shop or commercial place then registration for the Shop & commercial establishment will be required with the local state government. No such written deed necessary for the Sole Proprietorship Business as the DEED is required only in cases like Partnership firms & in this case there is only one person involved in whose sole ownership the business will be operated hence no written deed will be required. 

 However if any of the Government Department where the Registration of the business is required seek a written deed of the proprietorship business then one can reduce all the details with regard to the identity of the owner, the nature of business to be carried out, financial, property & other Capital the sole owner contributed, the details of bank accounts to be maintained for the business, the full details of loans or any financial advances taken for the establishment of the business, property mortgaged for this purpose & mode of repayment, nature of accounting, details of the books to be maintained for the accounts, the person/s who will be beneficiary in event of death of the sole owner etc. These are the few details which can be written down on a non-judicial stamp paper, signed by the sole proprietor, witnessed by two witnesses & got attested by the Notary Public.

    

    

 

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