Clause 2 Part 1 Of schedule 1

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Sir
Can a person ie a CA in practice transfer his Goodwill to another Eligible member even though he is alive just because he wanted to give up his practice can he do so ???

Question Tags: Clause 2 Part 1 Of schedule 1

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Ravi Staff answered 2 years ago

he can simply make other member partner in his firm and he can charge for goodwill, like in any other partnership firm.
transfer of goodwill concept was created for exceptional circumstances where sole proprietor dies or all partners due.