I need Adice on continuation of a proprietary firm.. As I was working with my father for last 8years and he was the proprietor of a firm transportation contractor, . Last year in march2015 my father expired due to heart failure. As a authorized person Two contracts were allowed to continue 1. Central warehousing corporation. Bangalore 2. Rahstriya Chemicals & fertilizers, Bangalore(work successfully Completed in July 2015) However Central warehouse corporation has terminated the contract on August 2015 due to legal opinion from their head office Delhi That as it was a proprietary firm the authorized person cannot continue the work so terminated. Now my question is can I continue as new proprietor of the above firm. Because I want to apply for future works using my fathers ITR, BALANCE SHEET, PROFIT&LOSS statement, Experience (Work Completion Certificates) Etc, or should make a new firm As I was not having required work experience on paper or else should I make this Firm as registered partnership firm. Kindly help in this regard & oblige. Thanking You Regards
CAclubindia
