Opening of bank a/c
This query is : Resolved
pramod bhandari
(Querist)
18 March 2014
Can any partnership firm or proprietorship firm open a bank account of employee for transaction of firm
pramod bhandari
(Querist)
18 March 2014
Can a partnership firm open a bank account in the name of his employee for transaction of firm
Nikhil Kaushik
(Expert)
18 March 2014
theoretically it should not as the transactions of the firm should be carried out in its name. it would result in unnecessary complications.
pramod bhandari
(Querist)
20 March 2014
thanks
nukhilg but in case of emergency or office is far away from H.O. and cash has to transfer for expenditue of business
nukhilg but in case of emergency or office is far away from H.O. and cash has to transfer for expenditue of business
Nikhil Kaushik
(Expert)
20 March 2014
in such cases you may do so. you may ensure that transactions are properly recorded and taxation matters such as TDS etc are taken care of.
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