A business owned & managed by one person is known as a Sole proprietorship business. It is one of the most popular businesses specifically started by small traders & merchants. Registration is not necessary in the case of sole proprietorship except GST registration. In sole proprietorship firm, all the profits & losses are handled by one person only i.e. the owner of the sole proprietorship firm. Therefore, it has unlimited liability. Sole proprietorship firm does not benefit from the feature of perpetual existence and has a minimal tax advantage. Easily register a sole proprietorship online with Finacbooks. We provide the sole proprietorship registration process and guide to how to register a sole proprietorship firm in India.
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