ESCROW ACCOUNT

This query is : Resolved

CA.SIDDARAESHWARA GOWDA.A (Querist)
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22 September 2008 Dear all,

Myself is a newly qualified chartered accountant in practice, presently i have opened a Escrow account in my firm name for making epayment of taxes of my clients, my quarries are:
1.whether Receipts to Escrow account by cash, any implication in this regard...??
2.What are the rules & regulations operate the escrow account.

Thanks in Advance.
CA.Siddarameshwara Gowda.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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22 September 2008 Without there being an agreement the banker would not have permitted you. The rules are specified in escrow agreement.

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