Registration of Propritorship

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sachin

sachin (Querist)
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17 December 2007 Dear Friends,

Whether the registration of Proprietorship is compulsory by any of the Act.

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R.V.RAO

R.V.RAO (Expert)
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18 December 2007 THERE IS NO REGISTERED PROPRIETORSHIP LIKE REGISTERED FIRM OR A LIMITED LIABILITY COMPANY .
BUT IF THE PROPRIETOR IS DOING ANY BUSINESS WHERE LICENCE IS APPLICABLE , HE MUST APPLY FOR AND OBTAIN THE LICENCE , LIKE SHOPS AND ESTABLISHMENT ACT.
SIMILARLY IF HE DOES A BUSINESS AND IF TURNOVER LIMIT IS APPLICABLE , HE MUST REGISTER UNDER VAT.
IF HE IS IN A BUSINESS WHERE EXCISE LICENCE IS APPLICABLE HE MUST REGISTER UNDER CENTRAL EXCISE ACT.
SIMILARLY IF HE IS A SERVICE PROVIDER UNDER THE SERVICE TAX ACT,HE NEEDS TO REGISTER HIMSELF UNDER THE SERVICE TAX ACT SUBJEC TO THE THRESHOLD LIMIT .
SO AS PER THE APPLICBLE BUSINESS WHICH HE TAKES UP ,HE NEEDS TO REGISTER UNDER THE RESPECTIVE ACT AND DO BUSINESS AS PER LAW OF THE LAND.
R.V.RAO