banner_ad

Savings bank account in business name

Others 2898 views 4 replies

Dear Experts,

I have started a sole propritorship business and got registred under Indian Registration Act. 1908. Now I want to open an bank account for day-to-day transation record of my business. Can I open a Savings Bank Account in my bisuness name in any nationalised bank??? Which type of bank account will be best to maitain the transaction record?? Kindly suggest...

Replies (4)

First of all, National Banks will not allow you to open SB account to transacti day to day business transactions. 

U need to open current account to transact business activities for sole proprietorship firm.

Dear Vinod Shah, you should open Current account in any bank for transactions in your proprietory business.

You must open a Current A/c for your business.

Saving A/c is not to be used for day-to-day business transactions.

 

Dear Shah,

You must open a C/A for your daily transaction.

 

You must open a Current A/c for your business. Saving A/c is not to be used for day-to-day business transactions.

Read more at: /forum/savings-bank-account-in-business-name-225143.asp#.UJ-LwGd9Ukg


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details