Brief Details About Proprietorship

The sole proprietorship is the easiest business structure under which one can work a business. The sole proprietorship is anything but a lawful substance. It essentially alludes to an individual who possesses the business and is by and by answerable for its obligations.


  • The most common and simplest form of business is a sole proprietorship.
  • An individual proprietor owns and manages the business and is responsible for all transactions.
  • The owner is also responsible for all debts and liabilities.
  • The owner pays taxes on income from the business as part of personal income tax payments.

Registered Office:

  • Any place can be made as the registered office of the sole proprietor even the residential place can be used as the registered office of the sole proprietor.

Steps For Formation Of Proprietorship

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