Change of sole proprietorship

Karthikeyan Shanmugam (Querist) 25 September 2018 This query is : Resolved
Hello All,

I have a sole proprietorship business running for past 8years. Its a legal registered company and have GST registration also. I have Export Import registered for the same company. I like to transfer this business to my father. How can i legally make a document for submitting it in various departments such as Government of India for GST REG-06, for change of ownership in Bank Current Account and CC Account. Please help me to make legal document which will be need to submitted for various Government departments.

Thank You.

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kavksatyanarayana (Expert) 25 September 2018
You can sell and transfer the assets of the business to a new owner. These can be tangible assets, intangible assets, or both. However consult a CA of your area for guidance.

Dr J C Vashista (Expert) 26 September 2018
Commercial query, you can afford to engage a local prudent lawyer for better appreciation of facts/ documents advise and appropriate proceeding.

Guest (Expert) 26 September 2018
Your query seems to be merely a hypothetical academic query.

However, if there is even a bit of truth in your story, transfer of ownership of a business is not a so simple process that you preferred to take a charity advice. Take help from some local lawyer or a CA to get all the time taking formalities to be completed in length and breadth.

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