Get Answers to 3 GST Queries FREE with Expert CA guidance from CAclubindia Pro. Subscribe Now!

Death of proprietor

416 views 1 replies

Jd!!!

I.A.

59 Points Joined August 2009

In case of death of propritor, bank is denying to operate the bank account of the deceased proprietor to his legar heirs. Now becase of this, tje legal heir is not able tl continue the business of the deceased proprietor. What will be the solution for enabling the legal heir to operate bank account and continue the business as soon as possible?

Replies (1)

shikhar

LEARNER

1394 Points Joined August 2009

Hello, friend

You have to co- ordinate with bank manager and follow the legal procedure for tranfer of funds, there are three ways for tranfer of funds to legal hier.....

(1) through wil

(2) through succesion certificate or letter of administration

(3) through indemnity bond and affidavit

Thrid option will be convenient and easy.

Thanks