It is an unincorporated business owned and run by one individual with no distinction between the business and the owner. The Person who run Proprietorship business called proprietor. Proprietor is entitled to all profits and are responsible for all your business’s debts, losses and liabilities. Sole proprietors are personally liable for all debts of a sole proprietorship business.
A sole proprietorship is a form of business organization that is owned by one person. The owner is referred to as a sole proprietor. In accounting, the balance sheet of the sole proprietorship reflects the accounting equation: Assets = Liabilities + Owner’s Equity.
Proprietorship Registration with TAN , MSME under Udhyog Aadhar with GST
TAN/SERVICE TAX REGISTRATION