Taxation Provisions for Sole Proprietorship Firm

Taxation Provisions forĀ  Sole Proprietorship Firm Taxation Provisions for Sole Proprietorship Firm - Lawdef A sole proprietorship is a business structure in which the identity of the firm is not distinct from the legal identity of its proprietor. Thus, the business income earned by the sole proprietor firm is not taxed separately rather it is clubbed with the income of the proprietor and taxed as his personal income. The provisions of the income tax for the individual entity are largely similar with the [...]