Using saving a/c in proprietor ship firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2015
Dear experts,
can proprietor of proprietary firm use his saving a/c in business transaction. if no plz explain what may be further consequences.........
thanx & regard
Nidhi Gupta
can proprietor of proprietary firm use his saving a/c in business transaction. if no plz explain what may be further consequences.........
thanx & regard
Nidhi Gupta
21 September 2015
Hi, There should not be any problem to use SB A/c for Business transactions, However there are certain restrictions / limitations from the banks end like (1) The Limitation of Cheque Amount { Eg. in SBI its RS. 10 Lacs } (2) The Limitation on Internet Banking Transaction Amount. Etc
If the Transactions are in a limited way there should not be any problems.
Regards
If the Transactions are in a limited way there should not be any problems.
Regards
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?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- LIC maturity claim whether taxable
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FCRA 6 E- Intimation
- EXPORT COMMERCIAL INVOICE HSN CODE
- 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
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
