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Transfer of sole proprietorship to son

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 July 2018 Dear Experts, my friend wants to have his fathers' business (sole proprietorship concern) transferred in his own name due to his fathers' ill health. Kindly suggest what is to be done in this regard in the most cost effective way. Thank you!
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 July 2018 Transfer shops and establment licence issued by local authorities in the name of the son. Obtain PAN and GST registration in the name of the son. Open fresh bank account in the name of son.
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