Gift of buisness by father to son
This query is : Resolved
07 October 2013
Dear Experts,
Some person has various buisneses, he wants to gift one of his buisness to his son, can he do so if yes what is the procedure, formalities he need to follow and what will be the tax implications?
Thanks in advance
Some person has various buisneses, he wants to gift one of his buisness to his son, can he do so if yes what is the procedure, formalities he need to follow and what will be the tax implications?
Thanks in advance
07 October 2013
Appony lawyer and prepare a gift deed accordingly and get it registered in court.
07 October 2013
Thanks a ton, just wanted to check for tax implications income tax, sales tax,whether it will be succession, what will be needing for sales tax etc.
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