Sanjeev Jain
(Chartered Accountant)
(922 Points)
Replied 22 June 2009
Hie,
See there is no compulsion in law to open current account in a bank, if you feel free to trnsact your business earning in a saving account you can go ahead with that but one thing should be keep in mind while transact through the bank that you have to keep your client money in a seprtate bank account if it doesn't belongs to you i.e. if you are engaged in any type of work for him like any type of process outsourcing or Portfolito management etc.
MAHENDRA KUMAR BAGRECHA
(FCA)
(1402 Points)
Replied 24 June 2009
| Originally posted by :SSG | ||
| " | Hi Friends, Whether a CA in practice has to open a current account of his proprietorship firm in the bank? Or saving account should be opened in the firm name? |
" |
Hi, I agree with the view of Sanjeev
CA Jimmit D Mehta
(Employed)
(494 Points)
Replied 24 June 2009
nice explained sanjeev...............
i agree with u
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