Bank a/c

avneesh (Querist) 28 July 2013 This query is : Resolved
A PERSON CAN DEPOSITE BISINESS RECEIPTS IN SAVING A/C

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Isaac Gabriel (Expert) 29 July 2013
No bar.But it should conform to your business requirements.Savings bank conditions may not suit for frequent business needs.

malipeddi jaggarao (Expert) 29 July 2013
I differ with Mr.Gabriel. Savings Bank account of a bank is purely for saving purpose. If the receipts you are depositing prima facie does not disclose business nature there is no problem. If they disclose the source, banks will not agree. They will advise you open and operate Current Deposit Account.