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Proprietary concerns

ravichandran maraiyan

Shall a person start two or more proprietary concerns with similar nature of business? Please clarify.

Multiple Proprietary Businesses Allowed: Keep Separate Accounts and Obtain Different VAT Numbers for Each Venture. A person can start multiple proprietary concerns with a similar nature of business. However, it is essential to maintain separate books of accounts for each business venture. Additionally, if there is a VAT liability, different VAT numbers should be obtained for each business. (AI Summary)
Income Tax
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