Proprietary concerns

[ravichandran maraiyan]

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

[Aashish Saraswat]

You can have n numbers of proprietary concerns in your name , but the books of account should always be different for each set of business venture and if there is a vat liability you should have different VAT numbers for all such business ventures

Aashish Saraswat

Advocate 99582900000

AI Summary

Multiple proprietary businesses: maintain separate books and VAT registrations for each venture to ensure distinct legal compliance. A person may operate multiple proprietary concerns in their name, but each business must maintain separate books of account, and where VAT applies each concern must hold different VAT registration numbers and comply with VAT reporting separately.