Business share gifting from father to son
3 years ago
Can a father legally gift his business share to his son, If it is a partnership firm in which father has 35% share and a private limited company in which his son is managing director is a 15% partner in that partnership firm. Balance 50% share belongs to other third family. If yes, then how should the gift deed be executed ?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Respected client,
you are required to create a partnership deed in favor of your son.
you are required to create a partnership deed in favor of your son.
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A.HI,
according to the facts stated by you,
You need to register or create a reconsecuted partnership deed in favor of your son.
according to the facts stated by you,
You need to register or create a reconsecuted partnership deed in favor of your son.
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A.Dear Sir,
If it is definite share and appears in the partnership deed then you can gift your share and make him owner of 50% share in the said partnership firm.
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If it is definite share and appears in the partnership deed then you can gift your share and make him owner of 50% share in the said partnership firm.
Rate me Five Star*
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DIYAVARHUSSAIN SHAIK
Responded 3 years ago
A.Dear Client
As per your inputs a father legally transfer his business shares to his legal heirs, he can transfer the rights through board resolutions and the same shall be noted in the Company board, ROC
As per your inputs a father legally transfer his business shares to his legal heirs, he can transfer the rights through board resolutions and the same shall be noted in the Company board, ROC
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