The present invention provides a dye composition prepared from Lawsonia inermis for staining proteins on a gel. The dye composition of the present invention comprises petrol based extract of henna leaves, ammonia, lemon juice and ethanol. The present invention also provides a method for preparing the dye composition and further provides a method for conducting sodium-dodecyl sulfate-polyacrylamide gel electrophoresis (SDS-PAGE) assay using the said dye which is advantageous over the conventionally followed methods.