A trade license is a document of permission to carry on particular business activity. It is essential for businesses to take licenses to perform particular business activities and does give any ownership right of property. Generally, the provisions of the trade license are set up by the State Government.
Eligibility/Requirements for getting Trade license
· The applicant for a Trade license must not be minor. He/she should be of age more than 18 years.
· The applicant must not have committed any fraud or must not have any criminal record in past.
· The business objective must be legal and business must be lawful under the regulations of government.
Documents required for getting a Trade license
1. Proof of identity of business owner/applicant. Such documents include Aadhaar, PAN, Passport, Driving license or any other Government-issued identity document would be required.
2. Proof of Address business owner/applicant. Such documents include bank statements, electricity bills, water bills, gas bills, and telephone bills.
3. In the case of leased property, the copy of the lease deed for the registered office premises along with a NOC from the Landlord and EB bill/property tax receipt/water bill copy of the registered office property.
4. Proof of the establishment of the trade.
5. Latest Bank Statement with a canceled cheque.
6. Certificate of incorporation, MOA & AOA of the Company.
7. PAN Card of business.
8. Property Tax Receipt
9. Income Tax Return Statement
10. Affidavits
11. Other documents, if required.
Advantages of getting a Trade license
· Saves owner from few liabilities.
· Makes the business more ethical.
· Increases goodwill of the business.
Disadvantages of getting a Trade license
· Hassle of getting it renewed.So, What is Instade Alogs is all about? It is an audio learning and discussion forum enriching our listeners to get all the valuable insights related to the professional world. You can connect with us on Linkedin | Twitter | Facebook | Instagram
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