RBI KYC ON BANKING

PSCHANDNANI (Querist) 27 January 2011 This query is : Resolved

UNDER RBI KYC BANKING RULES

IF I AM A NEW SOLE TRADER

OPERATING FROM HOME

WITHIN LIMIT OF VAT TURNOVER FOR REGISTRATION

WITHIN LIMIT OF SERVICE TAX LIMIT FOR REGISTRATION

BESIDES PAN CARD
WHAT OTHER PROOF CAN I SUBMIT TO BANK
TO OPEN AN ACCOUNT

THE BANK INSISTS ON ABOVE DOCUMENTS WHEREAS I CANNOT GET THE SAME
EXCEPT PAN CARD

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Amit Minocha (Expert) 27 January 2011
you need an address proof, a letter head of the prop firm with a request to open the account and the copy of your PAN besides photograph.

Bank cannot refuse.amitminocha@yahoo.com

Parthasarathi Loganathan (Expert) 27 January 2011
Yes for trading account, details of VAT and Service tax is necessary for opening of current account though they do not fall under the ambit of KYC Norms.

A V Vishal (Expert) 27 January 2011
You can obtain a trade license and a certificate from a CA, most of the banks are accepting these both for opening a proprietary account.

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