Opening of a bank account
This query is : Resolved
10 October 2012
Dear Experts,
Kindly make my doubt clear... as per my practice we open bank account within 30 days from the date of incorporation.
but is it necessary to open bank account within 30days or we can instead of opening bank account, can we keep in cash the Rs. 1/- lac or Rs. 5/- lac in company's office..?
Regards,
Siddhi
Kindly make my doubt clear... as per my practice we open bank account within 30 days from the date of incorporation.
but is it necessary to open bank account within 30days or we can instead of opening bank account, can we keep in cash the Rs. 1/- lac or Rs. 5/- lac in company's office..?
Regards,
Siddhi
Ajay Mishra
(Expert)
10 October 2012
Hi,
It is not mandatory to open a bank account with in 30 days. you can hold such amount in cash in hand. Yes you can.
But Try to open a Bank account for business purpose as soon as possible.
It is not mandatory to open a bank account with in 30 days. you can hold such amount in cash in hand. Yes you can.
But Try to open a Bank account for business purpose as soon as possible.
CA Ayush Agarwal
(Expert)
10 October 2012
No Where Written in Companies Act That Bank Account Need to open in 30 days, But It Should be Open.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Employee secondment
- Applicability of tax on invoice
- Rent agreement of House of deceased person
- Gift to nri relatives resides in usa
- Form 144 TDS Return Validation error
- Rectification under processing even after 6 months cpc portal
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
