Conversion of proprietorship business in to HUf

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Neha Agarwal (Querist)
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13 March 2023 Respected members,

Can I convert my proprietorship business in to HUf? What are the process steps? Should I need to obtain a different trade licence?

Please Guide

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 March 2023 1. Need to obtain all the licenses &/or registrations like trade license, GST, PT etc. in the name of HUF.
2. Can transfer capital assets from individual account to HUF account by way of gift or sell transfer.

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Neha Agarwal

Neha Agarwal (Querist)
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13 March 2023 Thank u sir for your guidance

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 March 2023 You are welcome.