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What is simplicity in sole proprietor?

Submitted by LegalWizin on Thu, 10/17/2019 - 09:07

Any individual who want to start a business without much complexity can start his operations as the proprietorship firm. This business structure is most simple and flexible structure in India from both set-up and operability aspects. It is most easy way of doing business with minimum registration cost. In the Proprietorship Firm business, the individual himself is the sole owner of the whole business.

Following are some advantages to start Proprietorship Business.

Sole ownership and no interference from third parties or Government

  • Minimal cost for setting up business
  • Minimum compliances compared to other structure
  • No distribution of profit
  • Single income tax return for owner and business

Here is the related read for more details about sole proprietorship firm: Starting Business as Sole Proprietor – Popular Business Type

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