Simplest structure
Owned and run by one person; not a separate legal entity.
Sole Proprietorship
Quick Reference for Your Business
Key Features · Registrations · Compliance – everything you need to know about
Sole Proprietorship.
01
Key Features
No incorporation
Identity is built through registrations + a bank account.
Unlimited liability
Owner and business are the same — unlimited personal liability.
Taxed as individual
Taxed as the individual (proprietor's ITR), not as a separate entity.
02
Registrations / Documents to Provide
PAN and Aadhaar
of the proprietor
Udyam (MSME) registration
Recommended for all businesses
GST registration
If turnover crosses the limit, or for inter-state / e-commerce sales
Shop & Establishment registration
(Telangana)
Current bank account
in the business name + business address proof
03
Licenses & Registrations to Operate
| License / Registration | When needed |
|---|---|
| Trade License (GHMC / local body) | Any business within municipal limits — renew yearly (by 1 Dec in GHMC) |
| Udyam (MSME) Registration | Recommended for all — free, unlocks benefits & loans |
| Shop & Establishment | If you employ staff — within 30 days |
| GST Registration | On crossing the turnover limit / inter-state / e-commerce |
| Professional Tax (PTRC / PTEC) | Employers and self-employed (Telangana) |
| PF & ESI | PF at 20+ employees; ESI at 10+ employees (wages up to ₹21,000) |
| Sector-specific licenses | FSSAI (food), Factory + Pollution (mfg), IEC (import/export), Drug License (pharma) — as applicable |
04
Compliance & Due Dates
| What | When |
|---|---|
| Income Tax Return (proprietor) | 31 July (non-audit) |
| GST returns (if registered) | As per GST due dates |
| TDS / advance tax | As applicable |
05
Penalties & Risks
Operating without GST when required
10% of tax due or ₹10,000, whichever is higher.
Late income tax return
Late fee up to ₹5,000 plus interest.
Unlimited liability
Personal assets are at risk for business debts.
06
Why Business Owners Trust Filings Hub
Qualified Experts to Support You
Experienced professionals to handle your tax, GST, accounting and compliance needs with confidence.
5+ Years of Experience
Serving businesses, professionals, firms and individuals with practical tax and compliance support.
You Never Miss a Date
We track every deadline — no fines, no interest, no surprises.
Complete Compliance Support
From registrations and filings to ongoing compliance — we help keep your business on track.
Expert Support When Issues Arise
Practical guidance to identify compliance issues, resolve them correctly and keep your business compliant.