Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
No single registration
The proprietor and business are the same legal person; there’s no incorporation step.
Identity via GST/MSME/Shops
These registrations give the business an identity and let you open a current account.
Choosing the right registrations and the bank account
Because there’s no incorporation, ‘registering’ a proprietorship really means assembling the right registrations for what you do. Almost every proprietor takes a Udyam (MSME) registration — it carries no fee, is quick, and unlocks benefits and the current account. GST registration is needed if you cross the threshold or trigger a compulsory case (inter-state goods, selling on a marketplace). A Shops and Establishment registration under the state’s law applies to most commercial premises and is often what banks want to see. Industry licences are added where relevant — FSSAI for food, an import-export code for trade, a trade licence from the municipality. The current account is the practical anchor: banks typically ask for any two business-identity proofs (say GST and Udyam, or Shops and a registration certificate) in the business name. There’s no separate PAN — the business runs on the proprietor’s PAN, and its income is the proprietor’s income. Picking only the registrations the business actually needs, rather than all of them, keeps setup lean while still giving the proprietorship a clear identity and a current account.