Huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 February 2014
I have a sole proprietorship firm Can i change the proprietor of the from from an individual to a HUF and what will be the procedure.
08 February 2014
You cannot simply change the proprietor from individual to HUF. There should be some document and you can do it by way of an agreement in which the HUF will pay the capital of Individual and then HUF becomes the owner. Check the provisions of stamp duty which is payable on the value of the capital to the government. If possible get is registered if stamp duty is paid. You have ge the Municipal Licence or Trade licence also corrected amended by inserting the name of HUF.
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