Hemchand Kohli (Accountant) (889 Points)
27 February 2010Is it possible
Suppose I am Proprietor of ABC & Co. and i have Bank A/c (Current A/c in Name of ABC & Co.) i received a cheque from My Name i.e. hemchand Kohli now my question is that is it possible i deposit this cheque in ABC & Co. and i have no saving A/c
Thanks
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 27 February 2010
Hemchand...!
Yes this can be done but u hv to gv a declaration, along wid rubber stamp, stating that u r the proprietor of that firm..
but in normal case the cheque cannot be deposited in Current a/c becoz the cheque is in the name of individual n a/c is in the name of firm..
Adarsh
CA.Dheenadayalan.R
(Chartered Accountant)
(156 Points)
Replied 27 February 2010
Impossible.... U can deposit only in ur account.
u cant deposit in firm account.
akkapeddi
(Retd Sr. Audit officer)
(289 Points)
Replied 27 February 2010
Hi,
It is an individual cheque and can't be deposited in Firm A/c pl.
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 27 February 2010
bank accepts on declaration.. i had done this..
CA SURENDRA KUMAR RAKHECHA
(Practising CA at Surat)
(26263 Points)
Replied 27 February 2010
While filling Pay-in-slip write as under :
ABC & Co. Prop. Hemchand Kohli
It will be accepted by the bank.
CAclubindia
