Business Transfer
This query is : Resolved
29 August 2024
Dear sir
One of my client wants to Transfer he business to his own Brother with stock of 3CR and he is also having same Business and how can transfer and ..is tax applicable ??? can anyone tell me the procedure
Thank in Advance
One of my client wants to Transfer he business to his own Brother with stock of 3CR and he is also having same Business and how can transfer and ..is tax applicable ??? can anyone tell me the procedure
Thank in Advance
29 August 2024
Treat it as gift to brother no tax payable.
29 August 2024
Thanks you sir
but how to transfer the stock of 3cr and is GST tax applicable ????
plz little brief procedure sir
thank in Advance
but how to transfer the stock of 3cr and is GST tax applicable ????
plz little brief procedure sir
thank in Advance
29 August 2024
GST applicable on stock transferred ITC can be claimed.
31 August 2024
ones Again Thank you for ur valuable suggestion CA. Seetharaman sir ....
Actually his brother not able to continue business so that total stock transferring to his Brother .as we confirmed with other CA he said that Transfer of all ( Assets & Liability ) to ur own brother is not taxable to under GST(forms GST ITC-02 : Declaration for transfer of ITC in case of sale, merger, or transfer of a business under Section 18(3) is not taxable under GST) and income Tax ....but asper ur suggestion is taxable kindly clear my confusion sir
suppose what is the procedure for total business transfer to family member in case of Death of proprietor sir ????
Thank in advance sir
Actually his brother not able to continue business so that total stock transferring to his Brother .as we confirmed with other CA he said that Transfer of all ( Assets & Liability ) to ur own brother is not taxable to under GST(forms GST ITC-02 : Declaration for transfer of ITC in case of sale, merger, or transfer of a business under Section 18(3) is not taxable under GST) and income Tax ....but asper ur suggestion is taxable kindly clear my confusion sir
suppose what is the procedure for total business transfer to family member in case of Death of proprietor sir ????
Thank in advance sir
31 August 2024
Yes, he is right.
I thought you are transferring part of the stock.
Execute business tranfer agreement and transfer the stock through delivery challan and E way bill.
I thought you are transferring part of the stock.
Execute business tranfer agreement and transfer the stock through delivery challan and E way bill.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Invoice V/S Goods receipt Note Date
- Value of property in capital gain
- Multiple trade mark
- Regarding TDS Applicability For Director Remuneration
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
