Dear Lokesh,
For closer of Company, First of all you have to file all Annual returns, also as per the Income tax rule expenses above Rs. 10000/- in cash is not allowed. so in my view for payment of fees above Rs. 10000/- the bank account is mandatory.
The company will have to open the bank account to do the annual compliances.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
