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Can proprietor open saving account in proprietary name?

Tax queries 3514 views 7 replies
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Tax Consultants
28 Points Posted on 27 September 2017

Can Propretor open saving account (in the name of properitary firm name) instead of Current account ?

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On 27 September 2017 at 17:02 Report
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yes hi can with same pan  no

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On 27 September 2017 at 18:02
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99 Points Posted on 27 September 2017
Yes he can
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On 27 September 2017 at 18:14
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"Do the Right Thing...!!!"
128152 Points Posted on 27 September 2017
Originally posted by : Ankit Dodiya
Can Propretor open saving account (in the name of properitary firm name) instead of Current account ?

No.... Not available in the name of Proprietory Firm's name...

He can open only his name...

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On 27 September 2017 at 19:25
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Tax Consultants
28 Points Posted on 27 September 2017
Why he can not? any rules provision regulations for the same?
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On 27 September 2017 at 20:30
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CA Practice
3577 Points Posted on 27 September 2017
Properitory firm is a business organization & business organizations have current account and not saving account.
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On 27 September 2017 at 23:08
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Accountant
60 Points Posted on 29 September 2017
yes he can .for example he is retir
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On 29 September 2017 at 03:34
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"Do the Right Thing...!!!"
128152 Points Posted on 29 September 2017
Anybody is no...
It's a business name...
SB account only to individual and it's interest and transactions are based only to individuals. Not to any entity name....



If you want details or exact reply ask to Bank...
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On 29 September 2017 at 06:22


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