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This depends on the registrations taken by the proprietor since sole proprietorship firm does not have any separate registration. Let us take GST registration as an example. After the death of the sole proprietor, the official death certificate should be submitted along with the proof of natural heir. The GST department will change the PAN number from...
W Network
cawhat are the legal formalities to transfer the ownership of proprietorship firm to legal hires on the death of sole proprietor? Can legal hire file the income tax return of the firm in there name in between the time period of death and transfer of ownership of the firm?
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W Network
caThis depends on the registrations taken by the proprietor since sole proprietorship firm does not have any separate registration. Let us take GST registration as an example. After the death of the sole proprietor, the official death certificate should be submitted along with the proof of natural heir. The GST department will change the PAN number from the previous proprietor's PAN to the heir's PAN and you can change the records in the bank for the firm's current account as well.
To take this discussion forward, all you have to do is ->"Get Started"
about 3 years ago
View answer
what are the legal formalities to transfer the ownership of proprietorship firm to legal hires on the death of sole proprietor? Can legal hire file the income tax return of the firm in there name in between the time period of death and transfer of ownership of the firm?
-
W Network
caThis depends on the registrations taken by the proprietor since sole proprietorship firm does not have any separate registration. Let us take GST registration as an example. After the death of the sole proprietor, the official death certificate should be submitted along with the proof of natural heir. The GST department will change the PAN number from the previous proprietor's PAN to the heir's PAN and you can change the records in the bank for the firm's current account as well.
To take this discussion forward, all you have to do is ->"Get Started"
about 3 years ago
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