How can I transfer "GOODWILL" of my business.( Goodwill is not in my Books of account.) Is it possible to transfer the same through will?
7 Replies
puneet gupta
(3 Points)
Replied 20 December 2017
If I put my HUF money in my individual account and leave 2 days and gift in my son's name, then there will be no problem with any Taxation Department.
Tanvi
(Practising CA)
(223 Points)
Replied 20 December 2017
Mrs. S is running business on a property. She made her will stating dat after her date that property on which business is running will be transferred to Mr.A. Now my query is , is it possible dat anyone can say that only property is transferred and not business which is running on dat property. What to do if Mrs. S want that after her death , business shall be in hands on Mr.A only.
That’s why I asked is it possible to transfer Goodwill of business through will
satish
(teaching)
(2046 Points)
Replied 21 December 2017
The asset would be recorded in the books at the value recorded in the books of transferor
satish
(teaching)
(2046 Points)
Replied 21 December 2017
The asset would be recorded in the books at the value recorded in the books of transferor
satish
(teaching)
(2046 Points)
Replied 21 December 2017
If goodwill is not recorded in the books of transferor, it can't be record in the books of transferee.
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
