Key Features of Sole Proprietorship

• Single Ownership: One person owns and controls the business.

• Quick Formation: Can be set up within a day with the right documentation.

• Ease of Compliance: Minimal regulatory requirements compared to other business structures.

• No Separate Legal Entity: The owner and business are legally the same.

• Profit & Loss Responsibility: The proprietor bears all profits and losses directly.

• Unlimited Liability: Personal assets may be used to meet business liabilities.

Basic Requirements for Registration

To register your sole proprietorship in Aurangabad, you need the following:

• Aadhar Card

• PAN Card

• Registered office proof (utility bill, rent agreement, or ownership document)

• Bank account in business name

Registration Options Available

Although no central registration is required, a sole proprietorship can be recognized legally through the following registrations:

1. Udyog Aadhaar / Udyam Registration (Under MSME Ministry)

2. GST Registration (Mandatory if turnover crosses threshold)

3. Shop and Establishment Act Registration (Applicable in Maharashtra)

Benefits of Sole Proprietorship Registration in Aurangabad

• Start Business in One Day
  Quick incorporation process; suitable for immediate business start.

• 100% Online Process
  From document collection to submission, everything is done digitally.

• Low Setup Cost
  No need for hefty capital to get started.

• No Audit or Annual Filings
  No statutory audit or annual compliance like companies.

• Easy to Manage & Exit
  Simple structure makes day-to-day operations and closure easy.

• Tax Advantage
  Income is taxed as personal income of the proprietor, allowing slab-based benefits.

Documents Required

• Proprietor’s Aadhar Card

• PAN Card

• Passport-size Photograph

• Electricity Bill / Rent Agreement for office address

• Cancelled cheque / Bank account statement (for business account)

Step-by-Step Process for Registration

Step 1 – Choose a Business Name
Select a unique name that is not offensive or already trademarked.

Step 2 – Decide Business Location
Location determines registration under Maharashtra Shop & Establishment Act.

Step 3 – Register with MSME (Udyam)
Get MSME certification to avail government schemes and benefits.

Step 4 – GST Registration
Mandatory if turnover exceeds ₹20 lakhs (services) or ₹40 lakhs (traders).

Step 5 – Apply for IEC (If Dealing in Imports/Exports)
Required from DGFT for international trade activities.

Step 6 – FSSAI License (If dealing in food products)
Mandatory for food manufacturers or sellers.

Step 7 – Obtain TAN (If TDS applicable)
Needed if you are paying salaries or deducting TDS.

Post-Incorporation Compliance

• File income tax returns annually under your individual PAN.

• Maintain proper records of income and expenses.

• Renew Shop & Establishment license periodically (if applicable).

• GST filings (if GST registered).

Why Choose S. R. Mahajan & Co. for Sole Proprietorship Registration?

• End-to-End Assistance
  From document gathering to final registration, we take care of everything.

• Aurangabad-Based Expertise
  We understand local compliance requirements thoroughly.

• Affordable Packages
  Transparent pricing with no hidden charges.

• Quick Turnaround Time
  Get your registration completed in as little as 1 working day.