Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Amy   20 November 2018

Sole proprietorship liability after death of proprietor

If proprietor of proprietorship company dies then are family members liable to pay all outstanding taxes viz Sales Tax, VAT, GST for all the O/s years taxes not paid? in case no one knows about the the things about the company.



Learning

 4 Replies

Rajat Jain   21 November 2018

Yes, whosoever will be the legal heir would complete the taxation compliance and paid the outstanding taxes etc. If they not have knowledge then it's better to hire any CA or Tax professional.
1 Like

G.L.N. Prasad (Retired employee.)     21 November 2018

Sole proprietorship is not a "Company"  but a "Concern".  Get the assistance of a private auditor and settle the dues of Govt as a legal heir of the sole proprietor.

Shashi Dhara   21 November 2018

Yes those who claims it they shud have to discharge the liabilities

Dr J C Vashista (Advocate)     22 November 2018

The business of properietor is contineous or closed ?

However, statutory liability of the firm / business is to be recovered from estate of deceased.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register