Proprietorship Registration Service By Rajasthan Shop Act Consultants & Registration Services

We are engaged in offering excellent quality Proprietorship Registration Service to our valuable clients. A sole proprietorship, also known as a sole trader or simply a proprietorship, is a type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. The owner receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. This means that the owner has no less liability than if they were acting as an individual instead of as a business. It is a "sole" proprietorship in contrast with partnerships. The proprietorship does not require any specific registration under law.

The income tax assessment is done in the name of the proprietor and hence it get clubbed with other incomes of the proprietor. from tax planning point a proprietorship firm is advisable when the organization is very small and employs very less number of workers.