Choose the right legal entity at your business initial stage does matter.
If you are starting the business in India then you will have to choose the right way and path to start your business. Let’s see How to Start Sole Proprietorship Business In Kolkata & Howrah, India
Choosing the right entity at the early stage of business will give you the wing to fly. Sole Proprietorship, Partnership, LLP, Pvt Ltd is the way to start a business in India.
Explore and Analyze How to Start Sole Proprietorship Business In Howrah & Kolkata, India
What Is Sole Proprietorship Business
Sole Proprietorship Business manage and control by an individual. This kind of business run by one person with his & her skills like a mobile shop, computer repair center, beauty parlor, Coaching Centre, Ration shop etc.
If you are planning to start a small business with small capital investment and you don’t have a partner and all the decision will be your then don’t think twice to start a Sole Proprietorship Business.
There are Advantages and Disadvantages of starting a sole proprietorship business. Let’s see step by step.
- Easy to start
- Low investment
- Decision-maker benefits
- The business start and stop flexibility
- Choose any business name ( Avoid TradeMark register name like TATA, Reliance ETC)
- No separate legal liability (ROC filling ETC)
- No paperwork headache
- Get help from govt to MSME sector
- Unlimited liability ( If a business in loss then you will have to pay your vendors money from your personal assets).
- No legal existence.
- Can’t take investment from others.
- It will get difficult to raise a large amount of money from the bank.
- Can’t expand much
Let’s See How Start Sole Proprietorship Business In Howrah & Kolkata, India
As we said that sole proprietorship business started by a person who has some kind of skills in his domain so starting a business is very easy.
You will have to produce your own pan, aadhaar and register your sole proprietorship business online. There is an online registration platform initiative done by Govt for the MSME sector and the unorganized sector.
Procedure and Documents Requirement
Register Your Business Online At Free of Cost and Get Certificate Which is valid all around. Visit Udyog Aadhaar
- Choose your business name like ram enterprises, ram solutions, etc ( choose any name and avoid trademark name like TATA, Reliance ETC.)
- Must have your Adhar and Pan card.
- Go to udyog aadhaar platform and signup for registration
- Choose your business type like Sole Proprietorship, Partnership, LLP, Pvt Ltd.
- Fill up all the details as per your adder and pan and within n hour you will get a certificate of MSME registration.
- Now you have done your first step to register your self at the govt portal. keep in mind these things you can do that your self. It is totally free.
Free certificate for a lifetime. No need to pay anything. There are so many benefits you will get under the MSME registration. To know more go through the official website.
Now Apply for Trade License
If your business in KMC and HMC then go to their website and apply online for a new trade license. For new license document need to produce are
- MSE certificate
- Pan and aadhar
- Address proof like a rent receipt, electricity bill(if the bill is in your name), ETC.
Trade license needs to renew each year of business so keep in mind.
Apply for Professional Tax Enrolment
Visit the official website of PTAX enrolment. Obtain the PTAX Enrolment Certificate. PTAX also needs to be renewed each year.
Apply for GST certification ( Optional)
This is optional and depends on business to business. Keep in mind that don’t go for GST registration if your business turnover not exceeding at 40lakhs annual turnover either don’t require at an early stage of business.
Open The Current Account
If you have done an MSME certification, Ptax Enrolment, and Applied for trade license then visit the branch and open the current account in the name of the business.
MSME and Ptax certificate you will get in the same day but Trade license takes some time so produce application receipt that you have applied for it and that is acceptable.
For the current account, MSME and Patx certificate and trade license application receipt is enough.
Legal Liability of Sole Proprietorship Business
You will have to fill annual income tax annually in ITR3, ITR4 as per your business activities. For this consult to legal advisor either contact us at 9903965087
Business setup is done now you can start your business. For website and digital marketing related job you can contact us at 9903965087
If you don’t want such a headache and having confusion about sole proprietorship business setup work then you can also approach to our legal team. Call & Whatsapp : 9903965087
Sole Proprietorship Business Setup Can be Done @1000/- For One time.