ClearTax can also help you in getting your business registered for Goods & Services Tax Law.Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. Well, to some extent this is true. The advantages of a current account should be updated to include current assets rather than waiting for another speculative time period where different amounts are recorded. Almost all the banks in India provide their various current account products which suit varied needs of different customers. There is an operational burden attached since most package accounts offer services at additional costs. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner.
Banks offer Current Account which is a product suitable to the business community who need to make a large number of transactions almost on every day. A current account being a zero-account, is generally associated with huge transactions on a regular basis. Disadvantages of having a current account. Download ClearTax App to file returns from your mobile phone.19: Father who rejected son for sneaking into Ekiti from Lagos, its returns are low compared to other investment options and if the inflation is very high fixed deposit investors are the worst hit as the return bank Current Account – Meaning, Advantages and Disadvantages fixed deposit may not be sufficient to cover the high expenses due to inflation. The rate of interest provided on a current account is very low..
Many people think that economics is about money. After crossing that limit, one needs to pay the cost.Higher Amount of Monthly Account Balance is required to be maintained in a Current account.
Disadvantages of having a Current Account. We are sharing below as to what are the disadvantages of a Current Account of a bank?Unlike Savings Account, it does not earn any interest on money deposited in this account. As with any investment, disclaimer Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof. This is the biggest disadvantage of having a current account. Economics has a lot to do with moneyCurrent bank accounts are very popular among companies, firms, public enterprises, businessmen who generally have higher number of regular transactions with the bank.
One of the disadvantages of a current account includes drawing a low interest rate, the initial paperwork when opening an account is lengthy and terms are difficult to understand.
These transactions may involves online fund transfer, withdrawing money from other bank's ATM, etc.Unlike Savings Bank Accounts, you cannot place standing instructions to make bill payments automatically in your current account.Copyright © 2020 www.codeforbanks.com All rights reserved.
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