Proprietorship
Quick Reference for Your Business

Setup • Registrations • Compliance – everything you need to know about Proprietorship.

01
Documents Required
🪪
PAN + Aadhaar

of the proprietor

🏢
Business address proof

Electricity bill / rent agreement + NOC

🏦
Bank account

in the business / proprietor name

📸
Passport-size photograph

For identification

📋
Any one business identity

GST / Udyam / Shops & Establishments / Trade License

02
Key Facts & Timelines
Point Details
What it is Business run by one person — no separate legal entity from the owner
No central registration Identity is built through GST, Udyam, Shops & Estab or Trade License
PAN Proprietor's own PAN is used for the business
Income tax Business income taxed in the proprietor's ITR (ITR-3 / ITR-4)
Best for Small traders, freelancers, single-owner shops
Note: A proprietorship is the simplest structure — fast to start, low compliance. But the owner and business are legally the same person, so the proprietor is personally liable for all business debts.
03
Key Compliances
Income tax return

File ITR every year; tax audit if turnover crosses the limit.

GST returns

If GST-registered — monthly/quarterly + annual returns.

TDS (if applicable)

Deduct and file if you cross the audit threshold.

Renewals

Renew Trade License / Shops & Estab as required.

04
Why Proprietors Trust M/s Durganjali & Associates
A real, qualified Chartered Accountant

Not an agent — a CA who sets up your proprietorship registrations and keeps filings on time.

5 years of practice

Across companies, firms, individuals and trusts — Tax, GST and MCA compliance.

You never miss a date

We track every form and deadline — no avoidable late fees or penalties.

Clear updates in your language

Simple updates in Telugu and English — you always know where things stand.

Honest, practical advice

Straight answers you can act on — no jargon, no overselling.

Talk to a Chartered Accountant

Have questions about taxation, audit, or compliance? Fill out the form below and we'll get back to you within 24 hours.

Chat with us on WhatsApp