In India, the Proprietorship Act being done under the INDIAN REGISTRATION ACT,1908. The establishment and management of a proprietorship firm is easy and is with a lesser documentations, obligations. It has almost the same effect as the Partnership firm or a Company has. In fact, starting the business with the Proprietorship registration is a requirement of the present business community.
DETAILS REQUIRED FOR PROPRIETORSHIP FIRM REGISTRATION –
DOCUMENTS REQUIRED FOR PROPRIETORSHIP FIRM REGISTRATION
DOCUMENTS TO BE MADE –
For the registration of a Proprietorship Firm, a Deed is to be made on the Stamp Paper. The Deed containing full description of the Proprietor with his address; Name of the Firm and its address; Business of the firm with full description of the products/services; Opening of the branches and the Bank accounts is to be mentioned there. Once your Proprietorship firm is registered before the Registrar office, the nationalized bank will open the bank account in the name of your firm. You will have a legal authority and will be authorized the branches of your firm and will be authorized to open and run as many bank accounts in any city all over the Union of India. You may enter into the Contract / Agreement with the Govt. and its subsidiaries.