Bank Accounts - INDIA

Discussion in 'Payment Processing' started by david.michael, Apr 23, 2011.

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  1. #1
    Hi,

    I want to open a saving bank account in India, as of now I have 25 bank accounts in India under my name.


    Is there a limit to open bank account OR can I open few more accounts ?? :confused:
     
    david.michael, Apr 23, 2011 IP
  2. kingharun

    kingharun Peon

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    #2
    Wow, its great to hear it.. as of my knowledge, there is no limit in number of accounts.. but u should add your pan card to all your account and should pay tax properly..I dont know the case of NRE Account..
     
    kingharun, Apr 23, 2011 IP
  3. lalitkumar

    lalitkumar Greenhorn

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    #3
    yes there are not limit of accounts but u want indian pancard
     
    lalitkumar, Apr 28, 2011 IP
  4. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #4
    What are you doing with all these bank accounts ?? :confused:

    DON.
     
    deluxdon, Apr 28, 2011 IP
  5. sar420

    sar420 Notable Member

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    #5
    LOL...Money laundering I guess
     
    sar420, Apr 28, 2011 IP
  6. sunny61162

    sunny61162 Peon

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    #6
    You use pan card..
     
    sunny61162, Apr 29, 2011 IP
  7. DhrubaJyotiDeka

    DhrubaJyotiDeka Well-Known Member

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    #7
    I think you have reached the Limca Record. :)
     
    DhrubaJyotiDeka, Apr 29, 2011 IP
  8. FreeFun4Every1

    FreeFun4Every1 Prominent Member

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    #8
    Why 25 in not enough ??? what work you are doing man?
    are you paying tax?
     
    FreeFun4Every1, Apr 30, 2011 IP
  9. Bohra

    Bohra Prominent Member

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    #9
    What is your balance in these accounts like ???
     
    Bohra, Apr 30, 2011 IP
  10. david.michael

    david.michael Active Member

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    #10
    I have these accounts mostly for Fixed Deposits
     
    david.michael, May 2, 2011 IP
  11. sachin410

    sachin410 Illustrious Member

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    #11
    Why do you need fixed deposits is so many different banks?

    Are you avoiding TDS? :D.
     
    sachin410, May 2, 2011 IP
  12. david.michael

    david.michael Active Member

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    #12
    Yes ....

    .
     
    david.michael, May 2, 2011 IP
  13. david.michael

    david.michael Active Member

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    #13
    any problem if I create more accounts to avoid TDS ?
     
    david.michael, May 3, 2011 IP
  14. sachin410

    sachin410 Illustrious Member

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    #14
    It is alright as long as you are just avoiding TDS, but if you are avoiding tax, it is better that you stop doing it.

    Nowadays, all banks' data is centralized. Banks send some data to tax department on regular basis. If you have the deposits in the same name, sooner or later the tax department will catch up with you.
     
    sachin410, May 3, 2011 IP
  15. kipson

    kipson Well-Known Member

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    #15
    shall i know what purpose do you open that much of Account!
     
    kipson, May 4, 2011 IP
  16. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #16
    deluxdon, May 4, 2011 IP
  17. bbharath

    bbharath Well-Known Member

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    #17
    Looks like you are avoiding to pay tax since you are not looking for the interest given by banks.I suggest to you dont open any more accounts and deposit in the banks that you already had.
     
    bbharath, May 8, 2011 IP
  18. ahsankts

    ahsankts Peon

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    #18
    no limit you just need indian pancard
     
    ahsankts, May 8, 2011 IP
  19. johnmacellen

    johnmacellen Member

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    #19
    there is no limit.
     
    johnmacellen, May 8, 2011 IP
  20. stevenson.work

    stevenson.work Peon

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    #20
    Pan Card would be the ideal thing out here I guess.
     
    stevenson.work, May 10, 2011 IP
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