Submission #2
Not Easy to Do Business
Banking
Delhi
N Delhi
Rating of the department on the basis of:
3/5
1/5
2/5
Other
Open Bank account
Can’t find information
I wanted to open a bank account for my proprietorship firm. Banks kept me asking for the PAN card for the firm and Service tax / sales tax registration certificate. However, for a proprietorship firm, PAN card of proprietor works for firm as well. Also, being a new firm, and not foreseeing the turnover crossing 2 lakh for the first year, it wasn't necessary to go for service / sales tax registration.
Don't start a proprietorship firm if you are looking at a very small turnover.
Vikram Saluja
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vikram.saluja@vsaluja.com
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