Proprietor death case

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dera colleagues
gud noon
gst registered (in Composition scheme) firm hai, uske proprietor ki death April 2021 me ho gyi thi... 31 March 2021 ka closing stock 40 lac approx hai
proprietor ki daughter or wife ne vhi stock 20 lac me kisi other businessman ko de diya kyunki financial need thi?
toh ab uss stock ka treatment kya krna
daughter ko Authorize representative add kr diya hai... or tax pay krna hai toh kitna kiya jaae???


regards
Replies (3)

Tax to be paid on sale value

Mtlb sir 20 lac per hi tax pay krna hoga na
or iska income tax me kya effect padega
mtlb 20 lac ka 8% deemed profit declare kr skte hai kya

Yes you can ...........

 


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