29 February 2016
My father aged 56 years who is a business man(proprietor). He wishes to transfer the whole business to my brother(aged 28 years). My brother is also engaged fully in the same business and receives salary from it. Now, my father wishes to transfer all the business income to my brother. How can this be done?
29 February 2016
Let your father sell his proprietory business to your brother. Once your brother becomes proprietor, the income from the said business will be that of your brother.
CAclubindia
