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05 March 2015 A person is carrying Hiring of motor cars business as a proprietor. His son also wants to start the same business separately. His father wants to transfer one of the asset i.e motor car for this purpose. I want to know the tax implications of the transaction and the manner in which this can be done.. Thanks in advance.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 March 2015 best is dad must gift to son via gift deed and son must show as capital introduced in his new firm........
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