Proprietory Concern
This query is : Resolved
CA Amit Prakash Sharma
(Querist)
17 November 2008
Good Evening.
My query to our respected professionals is that is it true that an individual can not be proprietor of more than one firm or concen. if it is true then give me logic behind this
My query to our respected professionals is that is it true that an individual can not be proprietor of more than one firm or concen. if it is true then give me logic behind this
CA Tilak Raj Sharma
(Expert)
17 November 2008
No, there are no such restrictions. You can own 2 or more than 2 prop. firms at your own name.
17 November 2008
One can have any number of prop. concerns, In my opinion, there is no confinement like this, in Indian Law...
**DM
**DM
Ravikumar.G
(Expert)
17 November 2008
He can 'n' number of firm. But the income should be disclosed correctly. It should not be misfeasance.
18 November 2008
There is no such restriction.
CA Amit Prakash Sharma
(Querist)
21 November 2008
Thanks for information It will be helpful in my future professional cases
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