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Non opening a current a/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 August 2012 What are the consequences of non opening a current A/c by a sole proprietor ?

wat is issue if any under IT act or under any other Act ?
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
11 August 2012 There is no issue. because there is no provision which say that a proprietor must open a current account.
a propriter can have same saving account with his business.

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