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S. G. GUPTE (Querist)
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13 September 2016 My client is a proprietor of a trading concern having annual profit of about Rs.20 lacs. Recently he had a heart attack. Now he is asking me how he should plan so that in his absence his wife can handle. Whether to take her in a partnership ? Please advise him particularly in view of income tax.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 September 2016 To start with, he can make Power of Attorney.
Take a judgement for few months ...may be a year or so....
If it works well, he can continue with the same arrangement....

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