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Proprietorship Business in India: A Guide for Tax Compliance A Proprietorship is one of the simplest and most common forms of business structures in India, especially for small businesses, freelancers, and solo entrepreneurs. It is an unincorporated business owned and managed by a single individual, known as the proprietor. Explore what is sole proprietorship , its definition, features, types, examples, and steps to register a sole proprietorship firm or start a sole proprietorship business. A proprietorship is the state or right of owning a business or holding property. Generally, proprietorship and sole proprietorship are terms which have simultaneous usage. Definition of Sole Proprietorship The sole proprietorship is the form of business organization, at the head of which stands an individual as one who is responsible, who directs its operations and who alone runs the risk of failure. - L.H. Haney A sole proprietorship is a person who carries on business exclusively by and for himself.
