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Transfer of goodwill

Tanvi (Practising CA) (223 Points)

20 December 2017

How can I transfer "GOODWILL" of my business.( Goodwill is not in my Books of account.) Is it possible to transfer the same through will?

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7 Replies

puneet gupta (3 Points)
Replied 20 December 2017

If I put my HUF money in my individual account and leave 2 days and gift in my son's name, then there will be no problem with any Taxation Department.

Tanvi (Practising CA) (223 Points)
Replied 20 December 2017

Didnt get u

satish (teaching) (2046 Points)
Replied 20 December 2017

can you elaborate?

Tanvi (Practising CA) (223 Points)
Replied 20 December 2017

Mrs. S is running business on a property. She made her will stating dat after her date that property on which business is running will be transferred to Mr.A. Now my query is , is it possible dat anyone can say that only property is transferred and not business which is running on dat property. What to do if Mrs. S want that after her death , business shall be in hands on Mr.A only.

That’s why I asked is it possible to transfer Goodwill of business through will