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Bank related query.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 April 2014 A professional firm has opened only one Saving Bank a/c..He is doing all the transactions with that a/c only..like paying bills, expenses, rent, conveyances and also receiving payment in this a/c.

Can he do such even if does not have a Current a/c. ??

Please Suggest and its Implications !!!
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CA Devanand Jethanandani

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CA Devanand Jethanandani (Expert)
24 April 2014
Yes he can, it is not compulsory to have current account.


Regards,
Devanand

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