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Current account for practising ca

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2012 Hi,

I have recently started my practice as an individual proprietor about a month back and have registered my firm with ICAI. Please let me know as to do i need to open a current account for the same or can i operate with my savings account?

Regards.
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 July 2012 Since you have registered 'firm name" (and co. OR and Associates), it is advisable to open current account. (Although professional ethics do not restrict you from opening savings account as well) Further, banking law and practice will allow you to open current account and at the same time deposit the cheques received by you in individual name in the current account if you so wish.
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2012 Thanks Amol.
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