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Sale of property

FAHEEM AKRAM (293 Points)

02 October 2019

Which is better option to receive Payment saving accouny or current account to sale of Ancestral property?

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3 Replies

Kapadia Pravin (17249 Points)
Replied 02 October 2019

Better is saving account bcoz SB Account you receive interest while current account don't give any interest.

sabyasachi mukherjee (26199 Points)
Replied 03 October 2019

Savings account is a better option certainly.

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 04 October 2019

Since in current account only business related transaction shud be recorded.ancestral property is not related to business, so the proceeds can be deposited in SB account. Moreover you get additional income by way of interest on SB account

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