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Question ID : 40391

How to change proprietor

A proprietor ship firm wants to change its proprietor in the existing firm. What's the best way to do the same.

Posted by SURAJ KUMAR CHOUDHURY on Sep 14, 2019

Filed Under SME

Answer ID : 83586

The original proprietor should get the valuation done for his business and after getting the required consideration from the prospective proprietor, the proprietor will change. It can be done through gifting of his business to his close relatives or others through a deed of gift.

Posted by CA. JHA SHANKAR KUMAR on Aug 09, 2022