S.K.Agarwal
( FCA , ACS , DISA , AMIMA )
87, First Floor, Gagan Vihar Ext. New Delhi -110051
Helpline No. : +91-9212406010
Ph. No. : +91-11-22050800 / 10 / 50
Email : ca.skagarwal@gmail.com
Website : www.agarwaltaxcon.com

Proprietorship Firm


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When the business is owned and controlled exclusively by a single person. it is called sole-proprietorship, It is started through the initiative of the proprietor and is run with the capital provided by him or through borrowed funds. The proprietor manages the business himself, bears all the risk alone and gets all the profits. In this type of firm, the proprietor can apply for the pan card in his name or in the name of the firm. There is no restriction on the name of the pan card. He is free to choose any line of business and take any action with the some legal formalities, as applicable.