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Opening current account

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varun

Business

61 Points Posted on 10 January 2015

My client has a business establishment license (gumasta) in individual name but he wants to run his business as a huf proprietor. Gumasta and other licenses bears his individual name. He wants to open current account for his business concern and some banks rejected his application for not having anything in huf's name apart from pan card. Banks insists that he changes the licenses in huf name and all of us know how tedious it is to change things on such licenses. Current account is needed for vat and PT registration. What's the remedy in this case?

Replies (1)

CA Saiprasad P. Bagrecha

Partner

50 Points Posted on 10 January 2015

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