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Proprietory Concern

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(Querist)
17 November 2008 Good Evening.

My query to our respected professionals is that is it true that an individual can not be proprietor of more than one firm or concen. if it is true then give me logic behind this
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
17 November 2008 No, there are no such restrictions. You can own 2 or more than 2 prop. firms at your own name.
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
17 November 2008 One can have any number of prop. concerns, In my opinion, there is no confinement like this, in Indian Law...

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Ravikumar.G

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Ravikumar.G (Expert)
17 November 2008 He can 'n' number of firm. But the income should be disclosed correctly. It should not be misfeasance.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
18 November 2008 There is no such restriction.
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CA Amit Prakash Sharma

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CA Amit Prakash Sharma (Querist)
21 November 2008 Thanks for information It will be helpful in my future professional cases

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