In the proprietorship, a sole person can operate income and expenses of the business taxable in the name of the proprietor, and he is the one who solely responsible for the debts due to business. The proprietor will enjoy all profits of the business. Registration may or may not be required and it depends upon the type of the business proprietors choose. There is no process established by the government of India to register proprietorship, so your firm will be established only by tax registrations and other business registrations. For example, VAT, GST or service tax registrations are obtained in the name of the proprietor to establish that some person is operating a business as a sole proprietor. So, all the registrations will be in the name of the proprietor, this ensures that he will be solely responsible for all the liabilities of proprietorship.
Required Documents for Proprietorship Registration
Income tax returns and PAN number also in the name of the proprietor only.
current account in the name of the business can register his proprietorship firm
ID Proof and Address Proof of the sole Proprietor like Aadhar Card, Driving License or passport etc.
Rent Agreement, No Objection Certification or Electricity bills of the property where you want to register the business.
In case, Proprietor has owned property then it needs sales deed copy or electricity bills.