Guys can somebody clear the foll. question:
Can a company start a businees as sole proprietor concern as it has got legal existence as an person??
My friend who works in bank was in this situation where a company wanted 2 start a sole proprietorship business account and they has companys name mentioned in shop act..
so can somebody clarify this..
A company can do any kind of business which is not forbiden and within the object of the company but should be under the name of the company and seperate establishment required seperate registration.
Sole Property busiess is not separate nature of business. It is legal entity.Which is in a simple format.Sole Propfietor has not another indepedent existance, separate PAN.Any proprietor can do any business which is not harmful to the society.But for getting shop Act Licence the enclosed documents are required.
agreed as above...
CAclubindia
