Ask an expert! Legal, accounting and compliance advice from qualified professionals.

Share Details


Your Question has been submitted.

The Counsel team is processing your question and connecting to the best suited professional from the community to have it answered. We’ll get back with an answer shortly.

How is Taxation of Sole Proprietorships work in India?
  1. The income of a sole proprietorship is taxed as the income of the sole proprietor. Accordingly, the tax slabs as applicable to the income of the individual sole proprietor apply to the sole proprietorship as well.
  2. The income of the sole proprietorship is reflected and classified as business income for income tax purposes in the Income...

View answer

Looking to hire a professional from our handpicked community?

Explore our services, submit your request and let us do the rest for you.

Get started