PAN + Aadhaar
of the proprietor
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Proprietorship
Quick Reference for Your Business
Setup - Registrations - Compliance - everything you need to know about Proprietorship.
01
Documents Required
Business address proof
Electricity bill / rent agreement + NOC
Bank account
in the business / proprietor name
Passport-size photograph
For identification
Any one business identity
GST / Udyam / Shops & Establishments / Trade License
02
Key Facts & Timelines
| Point | Details |
|---|---|
| What it is | Business run by one person - no separate legal entity from the owner |
| No central registration | Identity is built through GST, Udyam, Shops & Estab or Trade License |
| PAN | Proprietor's own PAN is used for the business |
| Income tax | Business income taxed in the proprietor's ITR (ITR-3 / ITR-4) |
| Best for | Small traders, freelancers, single-owner shops |
Note: A proprietorship is the simplest structure - fast to start, low compliance. But the owner and business are legally the same person, so the proprietor is personally liable for all business debts.
03
Key Compliances
Income tax return
File ITR every year; tax audit if turnover crosses the limit.
GST returns
If GST-registered - monthly/quarterly + annual returns.
TDS (if applicable)
Deduct and file if you cross the audit threshold.
Renewals
Renew Trade License / Shops & Estab as required.
04
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