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Tax implications for cloud kitchen on Zomato
Can a sole proprietor who runs a cloud kitchen have one joint bank account (with manager) in which all receipts and payments of the business are reflected?
Replies (1)
Summary: While you can open a joint account with a manager, it is better to maintain a dedicated business current account where you are the primary holder and the manager is an authorized signatory (via Power of Attorney) rather than a joint account holder. This keeps personal and business finances separate, simplifies tax filings, and prevents liability or credit issues.
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