Pan for bank account opening
This query is : Open
16 August 2014
Subscribers to MOA of private company have agreed to invest in certain no. of equity shares. Company is incorporated. Can they open a bank account just by giving board resolution to bank to open account or do they also need to give PAN?
Note that if PAN is to be given to bank, then it will take another 2 or 3 weeks to open bank account after incorporation.
Please also let me know what is the time before which subscribers to MOA have to invest money in company after incorporation ? Please quote section, if possible.
Note that if PAN is to be given to bank, then it will take another 2 or 3 weeks to open bank account after incorporation.
Please also let me know what is the time before which subscribers to MOA have to invest money in company after incorporation ? Please quote section, if possible.
mehulmukati
(Expert)
16 August 2014
Yes PAN is mandatory to open the bank account. In addition, the bank will also require a copy of the MoA / AoA for the same.
16 August 2014
Dear Sir,
Thanks for your post.
This means that subscribers to MOA will not be able to invest money in the company for a period of at least 2 to 3 weeks from the date of formation of the company.
As per law What is the time before which the subscribers to MOA have to invest money in company after incorporation. Kindly quote section.
Thanks for your post.
This means that subscribers to MOA will not be able to invest money in the company for a period of at least 2 to 3 weeks from the date of formation of the company.
As per law What is the time before which the subscribers to MOA have to invest money in company after incorporation. Kindly quote section.
CA UMESH DULAL
(Expert)
16 August 2014
Some private banks (like Kotak, Yes Bank, HDFC) will open the bank account on acknowledge of pan application in case of company.
CA UMESH DULAL
(Expert)
16 August 2014
Some private banks (like Kotak, Yes Bank, HDFC) will open the bank account on acknowledge of pan application in case of company.
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Rupesh Jain
(Expert)
16 August 2014
you can take the acknowledge the application of PAN. then now govt or PVT bank open the a/c.
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16 August 2014
Thanks Umesh Sir,
Kindly let me know what is the time limit AS PER ACT before which subscribers to MOA have to invest money in the form of equity which they have agreed to take up in MOA?
Kindly let me know what is the time limit AS PER ACT before which subscribers to MOA have to invest money in the form of equity which they have agreed to take up in MOA?
CA UMESH DULAL
(Expert)
16 August 2014
you may deposit in bank account as soon as bank a/c is opened.
16 August 2014
Thanks sir.
Can you please QUOTE A SECTION from companies Act 2013 which gives time limit for investing of funds by subscribers to MOA?
Can you please QUOTE A SECTION from companies Act 2013 which gives time limit for investing of funds by subscribers to MOA?
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