KhushiJ (None) (109 Points)
18 March 2015Sir,
My query is how can one Transfer the ownership a Sole Proprietorship Business?
The business is having VAT / CST Registration, Shop Act License etc.
One of the solution is have is to enter into a Partnership the other party and then to get retire. Is this possible? If yes, then what time gap shall be kept between the deed of Partnership Creation and Retirement?
Please Reply as soon as possible. Also suggest other ways if possible. Thanks in Advance.
sesha
(accounts executive)
(1101 Points)
Replied 18 March 2015
if u transfer the sole trader proprietorship to another uwant change all the registration statutory registration like vat income tax trade license,service tax and other bank accounts. u can change into sole trader propietorship converted into partnership u can admit other partner as dummy partner and u should be partner in the firm for one year and then u can retire from the partnership as a desire.
CAclubindia
