Poonawalla fincorps
Poonawalla fincorps

Business transactions from savings account of proprietor

This query is : Resolved 

03 July 2011 Is it possible and legal to transact business from the individual savings bank account of Proprietor (of firm)?
i.e. all bank transactions will happen through savings account, so cheques will issued/presented in Proprietors name, not firms name.

03 July 2011 in this case seperate P & L account will be prepared for Proprietor and Proprietorship firm



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