Sole proprietorship business while working in an mnc

2760 views 1 replies

Hi,

I have multiple queries on starting a business as Sole Proprietorship.

Background: I am a regular and permanent employee of an MNC but I also want to start a small online business, I would mostly be selling items via Amazon, Flipkart etc. After some research I finally found that I can get myself registered as Sole Proprietor.

Queries

  1. I am asked to provide my PAN number for getting registered. Do you think it could create issues if I provide my personal PAN for doing this business. Could it create any misunderstanding in future? I file my IT for the income that I get from my job using this PAN.
  2. Would I be eligible for selling items via Amazon/FK once I have registered as Sole Proprietor and obtained GST number or there are other requirements before being able to sell?
  3. I live in a rented house in Bangalore and have no office, would there be any problem in getting registered and getting GST number?
  4. Do I must use some services or CA to get registered? Is there no way that I could do this myself? If it’s possible could you guide please.
  5. Even as Sole Proprietor do we need a business name?

Thank you in advance for your time.

Replies (1)

1. You have no other option but to provide your personal PAN if you are doing business as a proprietor.

    There will be no issues if you provide your PAN.

    Your Business Income from Selling on Online Platforms will get reflected in your IT Return along with your Salary Income.

 

2. Yes you should be eligible for selling products on online platforms after obtaining your GST Number.

    Please check the rules also in this regard (Additional Rules may be applicable in some cases).

 

3. GST Registration can be done on a rented premises. No problem there.

 

4. You can do it yourself.

   However it is better let CA do the compliance related work as they are profesionally qualified

   and the GST provisions related to selling online are  tricky.

 

5. Yes you should have a Business Name.

   Not only it serves as a Brand but also provides identity and recognition to your business.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register