Legal formalities to start:...proprietorship business...????

This query is : Resolved

Ravinder Singh (Querist)
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25 August 2012 my friend want to start his own business ..from home.
'.1.what kind of formalities required ..
. it is starting now and income is less than one lakh..per year .please suggest..me

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
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26 August 2012 For small level peoprietorship business there is no such formalities.
PAN of proprietor will be continued.

You may open a bank account in the name of business if required for operations.

All the Best.....

Ravinder Singh

Ravinder Singh (Querist)
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26 August 2012 respected sir , he has his pan number. he has a saving account , but he do not want to open current account ..i heard from someone that registration under shop registration act is required and these things also required 1.visiting card in the name of business
2. printed foils
3. official seal
is it correct or not ...??????
when these things required ????
HE WANT MINIMUM FORMALITIES BUT WANT TO BUSINESS WITHOUT ANY FEAR OF LAW AND REGULATIONS..
Please suggest i will be thankful to

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