transfer of proprietorship

amit (Querist) 22 February 2009 This query is : Resolved
Dear sir,
'A' is a proprietor of his firm in U.P.& wants to transfer his proprietorship to 'B'.
what r the formalities of sale tax, income tax & which forms no.is used in the above formmality & what procedure should 'A' adopt.

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ARVIND JAIN (Expert) 22 February 2009
CONSULT SOME LOCAL TAX LAWYER.

Abhishek (Expert) 23 February 2009
Mr. Jain is ryt..

rajesh garg (Expert) 23 February 2009
It's sale or transfer? If it is sale then go through sale deed and if it is transfer than transfer deed shall be applicable.

RAKHI BUDHIRAJA ADVOCATE (Expert) 23 February 2009
I do agree with Mr. Jain. He is absolutely right.

B.B.R.Goud. (Expert) 23 February 2009
you need to elucidate the brief.

as per thye given info, you can give power of attorney, in view of transfer of proprietorship.

for further info, you contact, local tax consultant advocate.

Kamlesh soni (Expert) 23 February 2009
I do agree with Mr. Jain. He is absolutely right.

RAJNESH RAMESH LOMTE GULBARGA KARNATAKA (Expert) 26 February 2009
As per Income Tax A per can lease its properitary license for some reward.
and as per sales tax a per cannot tranfer his proprietary firm simply because stuatus changes. as per the when we registered with the sales tax we get some TIN No from the department. when we tranfer our rights automatically the other member has to take sales tax no whether indivdual or through partnership firm