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TARUN (sole prop)     27 September 2013

Use saving a/c for business until current a/c is ready?

Hello Experts,

I am starting a sole proprietorship firm for web development business targeting only European clients. My current a/c is not ready yet due to the documentation formalities.

Till the time I sort it out and get a current a/c in my own or firm's name, can I start receiving the payments in my saving bank a/c ?  This arrangement will be only for 1-2 months and later I will get a current a/c opened.

Please advice.

Thank you very much.

Best Regards,

Tarun



Learning

 2 Replies

Prasun Chandra Das (Banker)     28 September 2013

You can open a SB a/c & do business transactions, but it is not advisable. It is better if you open a current a/c in individual name, by informing the bank of the situation.

1 Like

TARUN (sole prop)     28 September 2013

Dear Sir,

Many thanks for resolving my query.

Best Regards,

Tarun


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