Menu
business turn over is 8 lakh per annum can i operate business with saving account
my business turn over is 8 lakh per annum can i operate business with saving account
Replies (3)
If its a Sole Proprietory firm, you can operate with Savings account. However, since savings account have limitations on withdrawals, people generally prefer opening current account
Current account belongs to business, you are businessman. Better to make a difference.
u can operate it with the same
but if single TXN more than 100ⁿ000 then bank will report to IT DEPARTMENT then it's create some issues...so better CC/CURRENT A/C
but if single TXN more than 100ⁿ000 then bank will report to IT DEPARTMENT then it's create some issues...so better CC/CURRENT A/C
Recent Topics :
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
Related Topics :
CAclubindia
