Since 2007 I am operating a proprietorship establishment and generates reasonable profits. Unsecured loans are obtained from family members and friends. Considering the present scenario and future intution compels me to safeguard the interest of the investors who relied on me, so the present proprietorship to convert as partnership firm
I have registered this establishment with potential business companies, status of registration is proprietorship and it is the same with Income Tax, Sales Tax and other bureaucratic agencies. New registration with these agencies will disqualify and adversely affect the business opportunities.
I therefore request you to kindly advise how to proceed ahead that will eliminate the present problems
