Opening a new placement consultancy as a sole proprietorship firm from home do I need to register it?

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.

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

Hello,
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 @ [Login to view]

Farooq is right...the KYC (Know Your Customer) norms at banks requires any one of the registrations.