Executor
HIMANSHU
(Querist) 03 May 2012
This query is : Resolved
An Individual (ABC) carrying on business (sole proprietor) in real estate at Mumbai has died. As per the will two executors are appointed i.e. his wife & son. The beneficiaries of the will are his wife and two sons. An application to obtain Probate has been made in Bombay High Court.
Queries Attached
Sankaranarayanan
(Expert) 03 May 2012
You have to furnish all details against the demand of court. PAN of the deceased person 's and TAN will be produced before court along with balance sheet of business. what about her wife, is she a professional or employee, if she have PAN then produce the details before the court, if not then get the PAN by provider with in 20 days.
For balance sheet and other business details may be available with his auditor.
Advocate Rajkumarlaxman
(Expert) 03 May 2012
1. No separate account is required the same can be continued by showing the surviving heir ship certificate and the will copy. and adopting the names of the new owners of that firm.
2. same way you can surrender the pan card and reissue a new or continue the same by informing of the survivng owners of that business.
3. deuction of tds is a must. it goes on with all[anybody] who holds the business.
4. now that business either has to be done a sole person wife/or son to remain as proprietor or it is a partnership firm where one can have the authority to deal with all the business. in such case who acts for the firm should lend is PAn card and tds returns.
Advocate Rajkumarlaxman
(Expert) 03 May 2012
for all your questions the only thing rst you have to decide is wther the business has to be handled by both or indivivdual and if individual what would be the others interest in that case. and whether should be made an parfitnership firm or what are the testamenatary
Shonee Kapoor
(Expert) 04 May 2012
You have been rightly advised.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
