Query on Partnership Act and Bank account


This query is : Resolved 

Quick Summary
This discussion clarifies whether a joint bank account is required when forming a partnership or joint venture between two individuals. The consensus is that establishing a joint account is indeed necessary for such business arrangements. The user, an independent contractor looking to partner with a friend, received confirmation and plans to proceed with opening a joint account.

18 October 2020 When we create Partnerahip /Joint Venture between 2 individuls is it necessary to create joint bank account? As I am independant contractor and my friend wants to have a partnership with me for several projects . Please guide the needful

Thanks and Regards.

18 October 2020 Yes, have a joint account.

18 October 2020 Thanks for Clarity sir Will Proceed with a joint acc.


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