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New propreitrix to sole proprietor concern

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2012 One of My client running the sole proprietary concern for manufacture of pharmacy item, she decide to transfer the concern to brother's wife. But there is no consideration between them. My requirement is what procedure to be follow to change of proprietor by legally. What are provision applicable in Income Tax Act. - Vijayakanth
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
03 April 2012 Let her make a Gift deed and in that she should incorporate the other terms and conditions such as transfer of ownership right
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