Best option if you want to start a new business alone
The Best option if you want to start a new business alone and don’t want to worry about compliance. Starts from the day when you get a PAN card. The identity of an individual and the business are not different from each other. But due to the lower tax rate, flexibility and multiple advantages people prefer this structure for the early stage of business.
There is no specific Act to regulate this organization, there are many ways to register a Sole Proprietorship firm. Small businesses aiming to take lower risks prefer this structure.
Benefits
Full Ownership
Easy to Set Up
Lesser Compliance
Tax Benefits
