Stock transfer to another firm

This query is : Resolved

Ganesh Dutt Joshi (Querist)
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04 March 2014 Sir actually i have open a new HUF firm and i am karta of my HUF, Further I have allready propreiter of another firm now i want close my proprietership firm and transfer all stock and capital into my HUF firm.
What procedure and provisons i should follow for do that.
Thanks

Ganesh Dutt Joshi

Ganesh Dutt Joshi (Querist)
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04 March 2014 Please help me its urgent

CA Hardik Bunha

CA Hardik Bunha (Expert)
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04 March 2014 hi friend,

you can easily transfer your stock to HUF.

No taxability for HUF because it is covered u/s 56(2)(vii) as member gives to HUF (Relative)

No taxability for your personal firm
(Consideration is missing here, so)

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