Proprietorship Registration

A Proprietorship is an entity run, directed and managed by one person who is the owner of the business. All you need is a PAN number to start your proprietorship business.

Apply PAN for free here For assisted PAN filing click here

Benefits of Registration

  1. Easy Formation
  2. Nil cost of formation and lower cost of compliance
  3. Flexibility in operation

What other registrations required for a proprietorship entity?

This depends on the nature of business. But broadly you will require below registrations along with PAN

  1. GST Registration (If turnover is expected to be more than 20 Lakh)
  2. PF Registration if number of employees more than 20
  3. Professional Tax of respective states
  4. Local body licenses (Eg. Karnataka Shops & Establishments)

Frequently Asked Questions

If the proprietor is registered under GST then he needs to maintain books of accounts and file monthly returns. Also if the net taxable income is above basic exemption limit, then books of accounts may be required to be maintained.

Small scale business/Traders should choose proprietorship.

It comes to an end on death of the owner or Insolvency of the owner .

Yes. Anyone who proposes to import or export goods and services from or to India must obtain IE Code.