What is a Sole Proprietorship?
A sole proprietorship is an owner-operated business in which one individual owns the assets, controls decisions and reports business income. It is easy to begin, but it does not create a separate legal person like a company or LLP.
The proprietor generally uses their own PAN. The trade name becomes visible through invoices, bank records and applicable registrations such as GST, Udyam, Shop and Establishment, municipal trade licence or sector-specific approval.
Personal liability: Business debts and claims can reach the proprietor personally. Limited liability is not created by Udyam, GST or a current account.




