TheRodinhoods

How to start a self propreitorship firm?

Hello Rodinhooders,

I have few questions..

1. How to start a proprietorship firm?

2. Any Legal formalities?

3. Documents required?

4. Tax implications in Mumbai?

5. Current account in bank is mandatory?

6. Any regulatory requirements….companies act, 1956?

7. Any concessions/incentives provided by Govt?

8. Do I need to hire CA to manage the taxes and for other relevant accounting procedures?

9. Are there any other formalities after the firm has started ?

I am planning to start a export business of Engineering Goods. I am aware of all the export formalities and custom procedures as currently I am working in a Logistics company as the Head of Sales and Marketing. Starting a proprietorship is something new for me, though i have theoretical knowledge about the same, I need to know more from the ones who have their own proprietary firms, some more insight and their experience. In search of a mentor.. Thank you