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Trade License Consultants in Tumkur
MS Legal Associates:
Trade License is a license issued by the municipal corporation which gives you permission to carry on the particular trade or business for which it is issued. It does not grant ownership of property or permission for any other activity than for which it is issued.
The sole proprietorship is the legal form of corporate which is one of the simpler and less burdensome as to its constitution does not require no special requirements; the only thing to do is to open a VAT number. The sole proprietorship is the kind of company that refers to a single owner that is the entrepreneur who is therefore the only responsible and also the only promoter of his business venture. The entrepreneur does not impose a minimum amount of initial capital to invest. Since he was the only "responsible" of the entire entrepreneurial process, it is clear that the business risk falls all over him. This means that all of the assets of the entrepreneur are subjected to business risk. In case of insolvency of the debts of the individual firm, he is liable to third parties with all his possessions, including personal.
For this reason, the sole proprietorship is usually preferred, such as legal form, when you need to perform tasks that do not require large investments that involve risks and quite limited. The sole proprietorship can also be done in the form of a family business or undertaking married.
Documents Required for Registration
Office Rental agreement Occupation Certificate for premises as commercial building NOC from Fire Department Actual Turnover of last three financial years Registration Certificate