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Query on Partnership Act and Bank account

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(Querist)
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.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 October 2020 Yes, have a joint account.
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Dipak Zed

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Dipak Zed (Querist)
18 October 2020 Thanks for Clarity sir Will Proceed with a joint acc.




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