Essential Licenses and Registrations for Proprietorships
To run a proprietorship in India, you need important licenses and registrations, including:
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Get a Permanent Account Number (PAN) and an Aadhaar card for your business identification.
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Register under UDYAM, which recognizes your business as a Micro, Small, or Medium Enterprise (MSME) and offers government benefits.
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If your business exceeds specific thresholds, you must register for Goods and Services Tax (GST) to collect and pay GST.
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Open a separate bank account for your business to manage finances smoothly.
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Depending on your business location, register under your state's Shops and Establishment Act to follow local labor regulations.