Procedure in case of death of a proprietor?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 January 2011
In case of death of a proprietor, what is the procedure for continuation of the proprietorship firm by the legal heirs of the proprietor.
Secondly, if the firm is continued by the heirs, will they get the Bank Audit or the Bank Audit of the same level?
Secondly, if the firm is continued by the heirs, will they get the Bank Audit or the Bank Audit of the same level?
25 January 2011
1. The procedure is that you have to file form 18 with the institute of chartered accountants of india. You have to change only the name of proprietor. The condition is that the legal heir should be a Chartered Accountant.
2. and if condition are satisfied then it is not necessary that legal heir will get same level of bank audit becuase it is based on experience of proprietor.
2. and if condition are satisfied then it is not necessary that legal heir will get same level of bank audit becuase it is based on experience of proprietor.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
