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Nishit Dave (Financial Analyst)     19 November 2009

License Info

Hi Everyone.

My name is Nish*t and I am planning to start a games/internet parlour in one of the suburbs of Kolkata. I am planning to start a sole proprietorship business. My father expired in the month of March'2009 and now we are in the process to transfer the ownership in my mother's name. My mother has alloted me a room on the first floor in our 3 storey house.

What license or relevant documents do I need to acquire to start a sole proprietor business?

I plan to name it XYZ

Do I need to file two seperate tax files, one personal and one professional?

Do I need to apply for a commercial meter or transfer the existing one to commercial?

Do I need any rent receipt or a letter of consent from my mother to use the space would be enough?

I have tried to search for information over google but was not getting any satisfying response. Hope someone will be able to guide me on this forum.

 

 

 



Learning

 2 Replies

Asha Pole (Legal)     19 November 2009

Nish*t, Incase of sole proprietorship,you shall have to file just 1 return wherein your income will be clubbed under various heads such as income from business,income from other sources,income from house property etc.

Well since you would be using the property for official purpose, you need to get a Noc from your society, to start the commercial activity.If the entire building belongs to your mother, it is as good as getting a NOC from your mom. And if you are paying rent on that room ,you may get the receipt, as it will help you to get the deduction from your business income.

Nishit Dave (Financial Analyst)     19 November 2009

Hi Asha ji,

Thanks for the reply. Other than NOC, what other documents I need to start a sole propreitor business. Do I also need to send an intimation to my area P.S. as I checked few websites on cyber law and they recommended to inform the nearest P.S. if I plan to start a cyber/games parlour.

Thanks & Regards,

Dave

 


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