Death of proprietor
Querist : Anonymous
Dear Experts
I have some queries relating to death of proprietor.
Proprietor dies in the month of December and given his power of attorney to elder son.
1) From January onwards Elder son carries out the business in his name. whether the income of Deceased Proprietor(DP) from Apr to Dec is clubbed with the income of Elder son.
2) what is procedure for transfer of assets from the business say there are three sons to the DP.
3) Power of Attorney given to Elder son by DP whether he is owner of the business or not if not what is the procedure.
the assets will be shared among legal heirs
the proprietor firm is dissolved and the son has to start a new firm
Querist : Anonymous
Can you please let me know some reference or rules or Act
Thanks in Advance
Click here to login now
Similar Resolved Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
