Death of propreitor after the end of F.Y.

This query is : Resolved

rohan (Querist)
Follow

17 September 2009 what type of reporting shall be required if the propreitor dies after the end of F.Y. but is replaced by other person.Whether it shall be treated as affecting the going concern or as an extraordinary item or just a note reqd.

Anjani Pratap Tiwari

Anjani Pratap Tiwari (Expert)
Follow

17 September 2009 Yes it is affecting the going concern and the leagal successor is liable to pay taxes on behalf of the deceased

CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)
Follow

17 September 2009 the death of proprietor need not be disclosed any where.

however sign will be made by legal heir disclosing his status

vibcondelhi@indiatimes.com
9811274429