Which bank is best for current account for Pvt Ltd company?

HDFC Bank – Smart up Solution for Start-Ups HDFC Bank began its operation to fund the Housing sector and eventually began banking operations. Today, it is the first choice for entrepreneurs as well as corporate firms for current accounts. HDFC Bank offers a wide range of current accounts to choose.

Can a sole proprietor have a current account?

A Current Account is a Zero-balance account used by business entities to carry out their day to day business transactions. However, generally small business owners, sole proprietors, freelancers and shop keepers do not avail the current account facility and carry out business transactions from their savings account.

Which bank account is best for partnership firm?

Best Business Bank Account for Partners Who Deal With Cash: Chase Business Complete Banking. Chase is one of the most popular options for brick-and-mortar banks with their thousands of branches around the country, and tens of thousands of ATMs.

Is current account mandatory for sole proprietorship in India?

Current account is not a requirement. You can use savings account. You would need to pay taxes on interest. Savings account have limitation on number of withdrawal in a quarter, hence most sole proprietorship have current account.

Which bank has zero balance current?

However, ICICI and Axis Bank are the best banks as they offer an option of Zero Balance Current Account….Best Bank for Current Account.

Which bank is best for current account for startups?

Best Current Accounts for Indian Start Ups

• IndusInd Freedom : IndusInd Freedom ranks as the #1 best current account for startups with the only zero balance account in the market.
• Axis Bank StartUp :
• HDFC Bank SmartUp :
• ICICI iStartUp :
• Yes Bank Head-STARTUP:
• RBL Bank India StartUp Club :

What is partnership current account?

In case of partnership type of ownership in a business, partner current account is prepared when capital is fixed. Transactions such as drawings, salary, and interest on capital and drawings are recorded. The balance of this account fluctuates every year. The balance can be both credit or debit.

How do I start a partnership current account?

Documents required to open a Current account in the name of partnership Firm

1. Copy of the Partnership Deed.
2. PAN Card in the Name of the Partnership Firm.
3. Aadhar Card Of all the Partners.
4. Address Proof of the Partnership Firm.
5. Identity Proof of all Partners.
6. Partnership Registration Certificate (if Registered Partnership)

Which current account is best for proprietorship?

This type of account is best suited for businessmen, proprietorship and partnership firms, companies and public enterprises.

• Service Charges.
• Personalized Services.
• ICICI Bank Current Account.
• HDFC Bank Current Account.
• Axis Bank Zero Balance Current Account.
• Kotak Mahindra Bank Current Account.
• YES Bank Current Account.

Is GST registration mandatory for current account?

The GSTIN is not mandatory when you set up your Current Account with any bank. However, when you register under the GST scheme, you do require a functional Current Account. Therefore the business owner does not have to pay GST on Current Bank Account set up or functioning.