TRANSFER OR PROPRIETARY BUSINESS

[DR.MARIAPPAN GOVINDARAJAN]

One of my lady client is running a business as proprietorship. Now she wants to transfer the entire business to her daughter-in-law. How it can be transferred? Whether gift deed serve this purpose?

AI Summary

Gift Deed Considered for Transferring Business to Daughter-in-Law; Requires Asset Valuation and Notification to Authorities. A client wishes to transfer her proprietorship business to her daughter-in-law and inquires if a gift deed is suitable for this purpose. One respondent suggests that transferring the business through a gift deed is a viable option, provided that the assets and stock are properly valued and the relevant statutory authorities are informed. Another participant requests further information on the legal aspects of this method.