What are the steps to be followed for Proprietorship Firm Registration?

Applying for PAN. If an individual already has one this step is not needed.

2. The next step is naming the business which is required before registration of the Proprietorship Firm in Delhi.

3. There is no formal registration needed, but the next step is to open a bank account in the name of commerce for Proprietorship Firm Registration in Delhi.

4. An individual may also register as a Small and Medium Enterprise (SME) as per the MSME Act, but it is not compulsory, however, it is beneficial towards being registered under the same.

5. An individual could also register for GST if the turnover goes beyond Rs 20 lakh. For registering under GST, an individual has required the following documents which include PAN card, Photo, and Aadhar Card of the proprietor; Proof of business place (Electricity bill/ rent agreement) and a Bank statement copy (first page for confirming bank account number, address and IFSC code).

6. An individual could also get a Shop and Establishment registration done.