Q: What are the types of business ownership?

Ans: There are four forms of business ownership. 

1. Sole Proprietorship : Under Shop and Establishment Act of State.

2. Partnership: Under Partnership Act,  1932

3. Company : Under Companies Act,  2013

i) On the basis of incorporation 

ii) On the basis of members

iii) On the basis of control

iv) on the basis of liability 

4. Hindu Undivided Family : 

Hindu Undivided Family ('HUF') is treated as a 'person' under section 2(31)​ of the Income-tax Act, 1961. It is also mentioned in companies act, 2013 and Partnership Act, 1932. 

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