FCRA Account

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46 Points Posted on 17 May 2021
can a trust have two FCRA accounts.
can we transfer the amount from one account to another account?
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On 17 May 2021 at 16:53 Report
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Yes, a trust can indeed have two FCRA accounts. These accounts should be used exclusively for the main purposes outlined by FCRA regulations. If you have two accounts, transferring funds between them is also permissible, provided both accounts are used for their intended FCRA-related purposes.

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Chartered Accountant
24588 Points Posted on 17 May 2021
Yes a trust may have two FCRA accounts but that should be utilised for the main purpose of FCRA not for other purposes
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On 17 May 2021 at 21:01
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tax consultant
3306 Points Posted on 18 May 2021
In that case transfer between two accounts will also be possible.
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On 18 May 2021 at 09:54
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Chartered Accountant
24588 Points Posted on 19 May 2021
Yes it's also possible
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On 19 May 2021 at 21:49

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