Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover

This query is : Resolved

Quick Summary

Form 26QB correction stuck at PAN approval usually means seller action is pending. Builder must log in on TRACES using PAN, not TAN, and approve under Track Correction Request. After approval, AO may verify and approve.

RAKESH KUMAR

RAKESH KUMAR (Querist)
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18 April 2026 Hello Everyone,

I have a sole proprietorship firm with Udyam Registration Certificate. I am developing a software app (library management system) in which I plan to charge monthly subscriptions from clients. I will be using Razorpay as the payment gateway.

Current situation:
- Udyam Registration Certificate available
- Turnover is zero (just starting)
- No GST registration (not required as turnover is zero)
- No Shop & Establishment registration yet

My queries:

1. Can I open a current account in PNB or Punjab & Sind Bank with only Udyam Registration Certificate as business proof? Will any additional documents be required?

2. Will zero turnover be a problem while opening a current account?

3. For Razorpay payment gateway integration, is a current account compulsory or can I use my personal savings account?

4. Is Shop & Establishment registration necessary right now or can it be done later when business grows?

Kindly guide me.

Thank You 🙏

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 April 2026 1. Either GST registration or Shop & establishment license is required to open current account along with Udyam certificate.
2. No.
3. Better to have current account from beginning rather than changing it afterwards.
4. Mandatory within 30 days if business commencement.

RAKESH KUMAR

RAKESH KUMAR (Querist)
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18 April 2026 Sir, mera kaam poora online hai, abhi zero employees hain. Main ek software/platform bana raha hoon jisme Razorpay payment gateway integrate karna hai. Razorpay ke liye Current Account mandatory hai — isliye current account chahiye. Abhi sirf Udyam Registration hua hai. Aage current account ke liye kya karna hoga?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 April 2026 Shop & establishment registration kara lo...
With these two certificates & your individual KYC; proprietorship current account can be opened.

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