21 August 2024
HI, PLEASE TELL ME THE PROCESS OF TRANSFERRING A PROPRIETORSHIP FIRM UNDER THE NAME OF A FATHER TO HIS SON. FATHER HAS BEEN RUNNING THE BUSINESS FOR QUITE SOME TIME. NOW DUE TO OLD AGE WANTS TO GIFT THE ENTIRE BUSINESS TO HIS SON. SON DOES NOT HAVE A GST NUMBER YET. FATHER HAS LAND THAT IS BEING USED AS THE REGISTERED PLACE OF BUSINESS. FATHER WANTS TO GIFT EVERYTHING TO HIS SON INCLUDING CREDITORS, DEBTORS, ASSETS, LIABILITIES, ETC. PLEASE TELL ME THE PROCESS AND CHARGES OF DOING THE SAME.
CAclubindia
