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Tag Archives: proprietorship
How to open a Bank account for Sole Proprietorship
RBI/2009-10/362 DBOD.AML.BC.No.80/14.01.001/2009-10 March 26, 2010 The Chairmen and Chief Executive Officers All Scheduled Commercial Banks excluding RRBs/ All India Financial Institutions/Local Area Banks Dear Sir, Know your Customer (KYC) guidelines – accounts of proprietary concerns A reference is invited to … Continue reading
Is it necessary to register the Sole Proprietorship firm in India?
No. No registration is required for a sole proprietorship. You simply have to open a bank account with the name & style you want to work. But if you are liable for state VAT or service tax registration, then you … Continue reading
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Tagged Company Law, Income Tax, PAN, proprietorship, registration
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What is Sole proprietorship in India?
The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual. For tax and legal liability purpose, the owner and the business are one and the same. The … Continue reading