Midas Touch mar & trading this firm is run by me son in name of my father i want to transfer this to my name with same name and same vat no as this firm is regestried GOVT BODY i want to tansfer in my name how to change name in sale tax authroity and in bank with same account no with same VAT NO regards CHANG SUNIL
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various method to transfer to father to son sale tax bank services tax income tax
various method to transfer to father to son sale tax bank services tax income tax
my father age is 80 years old we are 3 sons and 1 daughter
my father age is 80 years old we are 3 sons and 1 daughter
my father age is 80 years old we are 3 sons and 1 daughter
my father age is 80 years old we are 3 sons and 1 daughter
your father can execute will wherein he can bequeath the business to you
2) you can on basis of the will apply for transfer of registration in your name
3) enclose father detah ceritfcate
4) affidavit undertaking to pay any tax due by deceased father
5) better apply for probate of father will
your father can execute sale deed for transfer of assets and liabilities of sole proprietary concern in your name
2) the licence can be transferred in your name on execution of sale deed
3) you aapply for transfer of regsitraytion in your name to the authoirities
you should prepare a transfer deed from your father. a registered firm has separate entity and ownership should be transferred by executing a deed. thereafter you can change all the vat etc according to the deed.
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If your father is living then you may ask him to execute a registered settlement or gift deed transferring all the rights in the business to your name.
After that you can apply for transfer of all the taxes namely, sales tax VAT or any other tax to your name on the basis of this registered transfer/gift deed in your favor.
various method to transfer to father to son
sale tax bank services tax income tax
On the basis of registered transfer deed of the business from your father's name to your name, you may apply for transfer of Sales tax, service tax, income tax of this business and bank account separately to the different authorities by enclosing an attested copy of this registered transfer deed in your favor.
my father age is 80 years old we are 3 sons and 1 daughter
All your family members should sit in a meeting, decide about the transfer of other properties including this business by a family arrangement and the same can be reduced to writing and get it registered, so that there is no ambiguity in this regard in future too.
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