Senior Services Manager
+1 Other

Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Hello all, I need one question that for opening a new placement consultancy as a sole proprietorship firm from home do I need to register it? and for opening the current a/c in the bank which documents are needed? It is very urgent please reply.
From India, Lucknow
Hi Pooja,
As a proprietorship firm registration is not required. Only Partnership firms and Pvt Ltd companies need registration. To open a current account you need to make rubber stamps with the firm's name that you have chosen and you will need your individual PAN card, photos to get a current account opened
However since you are the 'Services providing business" if your annual turnover exceeds Rs. 9 lakhs then you will need to register for Service tax and collect it from your client. trust this helps

From India, Chennai
Now It is little changed.
You cannot open a current account without having a valid govt document in the name of you company.
You shall get any of theses below.
1) service tax certificate
2) Sale tax certificate.
3) labour certificate.
I would prefer if you can go for Labour certificate.
Its easy and no issues to get the valid Proof in you company name.
I beleive It is cleared.
Do mail me if I am wrong.. So that I can also update the knowledge.
Reach me @

From India, Bengaluru
Farooq is right...the KYC (Know Your Customer) norms at banks requires any one of the registrations.
From India, Chennai
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™