Sale of sole properietorship
This query is : Resolved
CA Ashwani Agarwal
(Querist)
02 March 2014
An assessee wants to sale his Sole Proprietorship business to another individual. what should be the procedure and what would be the tax implications of the same in Income Tax and VAT.
Nikhil Kaushik
(Expert)
02 March 2014
practically there is nothing to sell accept for the brand name..VAT, service tax etc would need to applied again given that in proprietorship all these registration are linked to proprietor's PAN
CA Ashwani Agarwal
(Querist)
02 March 2014
Well, he can sell the debtors, other assets, deposits and things like those.
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