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Kani   24 February 2022

Death of proprietor effect on bank account

Proprietorship firm has been transferred to the sole legal heir on death of the proprietor. Necessary gst cancelation and registration has been completed by the legal heir. The proprietorship firm is now run in the name of the legal heir wirh fresh registration no. Can the bank account be continued by submitting fresh KYC or old account should be closed and new bank account has to be opened in the nme of the firm.



Learning

 1 Replies

Advocate Bhartesh goyal (advocate)     24 February 2022

Legal heir can maintain old bank account of proprietorship firm on submitting the required documents I.e kyc and registration no etc

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