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How to open a prop. firm account in bank

RISHABH JAIN (MANAGER) (63 Points)

03 June 2016

Dear All,

One of my client is doing tailoring work at his work-shop. He wants to open a account in bank. Banker told him to give any of one government registration i.e. VAT, Service Tax or any other. He has not so good business right now to take VAT or Service tax No. Please Suggest me how can I help him in getting account in any government bank bearing his prop. Firm name.

Is there is any Low cost registration to open the account

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7 Replies

SUPRIYA (PRACTICE) (853 Points)
Replied 03 June 2016

I think A PAN Card of Proprietor alongwith Shop act liscene and Municipal Corporation Permission will be enough for opening a current account with a bank in name of Proprietory Firm.

So Kindly check it with your preferred bank and then obtain shop act liscence.

RISHABH JAIN (MANAGER) (63 Points)
Replied 03 June 2016

Thank you for replying me.

I just want to know where i can get shop act Liscence & what paper I will needed.

Please share about the exp. related to that. I will be highly obliged.

SUPRIYA (PRACTICE) (853 Points)
Replied 03 June 2016

The documents depends upon the state in ehich you require shop Act.

If In Maharashtra you need to obtain Shop Act liscence under The Bombay Shops and Commercial Establishment Act, 1948. You can apply online for registration.