Current a/c and saving bank a/c

This query is : Resolved

Guest

Guest (Querist)

22 August 2013 Dear Sir

please explain me the difference between Current Bank a/c and SAving bank a/c

Benefits of Current bank a/c

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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22 August 2013 Current bank a/c is opened for business entities.
Saving bank a/c is for personal individual a/c's and cannot be opened by business entities.

Guest

Guest (Querist)

23 August 2013 OKAY SIR , THANKS

but sir please make me clear

On whose name a/c be opened in the following cases ?

1. Individual doing business or profession

2. Partnership Firm doing business or profession

3. in case of HUF

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 August 2013 For current a/c- in name of business entity.
for savings a/c-in name individuals.

Guest

Guest (Querist)

23 August 2013 Can I do Business with my Saving a/c ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 August 2013 If its a prop business then yes.

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