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?
Menu
Current A/c of CA Firm
Replies (3)
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.
| 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
nice explained sanjeev...............
i agree with u
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
