Regarding incorporation of new company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2017
A New Company Incorporation is under process. The main business is Real Estate.
Can a Escrow Account be opened in a Bank (Public or Private) in the name of New Company, which is under Incorporation Process.
If Yes, then the amount, as collected in the form of advances, can be kept in the Escrow Account for how much time?
Can a Escrow Account be opened in a Bank (Public or Private) in the name of New Company, which is under Incorporation Process.
If Yes, then the amount, as collected in the form of advances, can be kept in the Escrow Account for how much time?
28 January 2017
if i talk theoritically, promoters can enter into an agreement before incorporation of a company. but practically, the bank will not ready for opening of such a bank account as norms related with KYC not fulfilled. moreover, no advances can be accepted for a company which is not in existance
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
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- GST not cancelled by tenant
- Form 140 tds
- Capital gain on sale and purchase of plot
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- EXPORT COMMERCIAL INVOICE HSN CODE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FORM 141 SDV query
- Resigning a auditor from the company for misconduct
- CAPITAL GAIN BASE ON NOTIFICATION
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Eway bill not cancelled within 24 hous what can be due
- TDS Deducted AY-2013-14 Not Reflected in 26as
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
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
