A sole proprietor does not require registration, but may require … - Vidyadip

Question

A sole proprietor does not require registration, but may require certain general formalities. Name any two such formalities.

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Answer

Sole proprietor may require these formalities:

Industry specific license: A sole proprietor has to take a license, if required for the proposed business.
Service tax registration: Form ST-1 has to be filled for registration if the receipts fromtaxable services are expected to be more than ₹ 10 lakh for a financial year.

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