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Change of proprietorship

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 October 2011 can a proprietorship in father's name be transfered (registered) to one of the son's name on health grounds?
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
11 October 2011 A proprietorship business cannot be transferred as such.

the best way is to start the same business with the same name in the name of the son and transfer all the stock at the said price to him.
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 October 2011 thanks

what would be the effect in IT returns? and VAT department?
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