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Sole Proprietorship - Sole Proprietorship with TaxTrims

# Checklist Items for a Sole Proprietorship Registration

  • 1

    A certificate/license issued by Municipal authorities under the Shop & Establishment Act.

  • 2

    The license issued by Registering authorities like the Certificate of Practice is issued by the Institute of Chartered Accountants of India.

  • 3

    The registration/licensing document is issued in the name of the proprietary concern by the Central Government or the State Government Authority/ Department, etc,

  • 4

    The banks may also accept the IEC (Importer Exporter Code) issued to the proprietary concern by the office of the DGFT as an identity document for opening of the bank account etc,

  • 5

    Complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated and acknowledged by the Income Tax Authorities.

  • 6

    The utility bills such as electricity, water, and the landline telephone bills in the name of the proprietary concern.

  • 7

    Issue of GST Registration/Certificate.

# What Are The Documents Required For Registering A Sole Proprietorship?

  • To start a Sole Proprietorship, the following documents are required :

    • Address and identity proof
    • PAN card, KYC documents and
    • Rental agreement or sale deed (in case of Shops & Establishment Act Registration).
  • What Are The Documents Required For Opening A Current Account? :

    To open a current account, the following documents are required :
    • Proof of the existence of your business
    • Shops & Establishments Act Registration
    • PAN card
    • Address and Identity proof