Sole Proprietorship Tax Benefits
Sole proprietorships (https://www.registerkaro.in/po....st/sole-proprietorsh in India enjoy several tax benefits primarily due to their simple structure. Since the business income is treated as the individual income of the proprietor, they are taxed under the slab rates applicable to individuals, which can result in lower tax liability, especially for small businesses with modest earnings. Additionally, proprietors can claim deductions for business expenses such as rent, utilities, travel, and depreciation, thereby reducing their taxable income. There is also no requirement for filing a separate business tax return, simplifying compliance and reducing administrative costs.
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