Guide pls
sonal
(Querist) 12 May 2014
This query is : Resolved
Hi guest
Thanku for replying everytime..
Pls help me this also.
As i mention in one of my queries that my client has opened a studio of editing and animation..its a proprietorship.
I want to ask,registeration is not necessary na?
second thing is there is no income yet,so they should open bank account/current account now only or can open after income get started.
what registerations are necessary?
please guide i beg you all.
thanks
Devajyoti Barman
(Expert) 12 May 2014
who are you, an advocate?
If you are an advocate then you should know what sort of registration such business concern needs.
sonal
(Querist) 12 May 2014
devajyoti sir ji i told her details that if u not having income still u hv to open account because its mandatorbut bank ppl ask show us the registeration atleast 2..in this case thy are not in selling business like export or such thing..They have studio of animation and editing so i need help wht registeration are required coz without these account in bank will not open
sir i request if u could help and guide. iw ould be indebted.
sonal
(Querist) 12 May 2014
yes i am advocate..i m in practise for 3 yrs.
ajay sethi
(Expert) 12 May 2014
1) sole proprietorship does not require registration .
2) you can open a bank account in name of sole proprietor
Sankaranarayanan
(Expert) 12 May 2014
where are you from, You need to register with all local authorities. For registration you should submit certain document , so bank account is vital role for the proof of address and identity , For opening the bank account not necessary to collect from the business and open. You can open from the capital investment too.
Guest
(Expert) 12 May 2014
In Addition to Mr.Ajay Sethi's Advise 3) Pan Number in the name of the Proprietor would be required for Income Tax Purposes like TDS etc including for Bank a/cs
sonal
(Querist) 12 May 2014
Thank ajay sir
sankar sir from mumbai..office is in mumbai.
can u guide me how to contact authorities?
sir as u written u can open bank account from capital investment also,wht this mean?
any minimum investment neede to open account?
right now there is no income and business transaction,so can we open acc later or now only?
thankss
sonal
(Querist) 12 May 2014
rajkumar sir thanks
my only queries are
animation and editing business wht kind og registerations required?
second requirements to open bank acc?
i knw all these like pan card,all proofs , etec,what i wanted to knw is right now there is no income and business as such so can my client open account when thy think income is started or right nw thy should open acc?
pls guide
thankss
ajay sethi
(Expert) 12 May 2014
approach bank in which you desire to open account as to the formalities to be fulfilled for account opening . in private banks minimum balance would be around Rs 10,000 . in foreign bank minimum bank requirements would be much higher
Sankaranarayanan
(Expert) 12 May 2014
Welcome you, It means for business capital account . You can take the bank opening amount also as capital fund Hope the business what you mentioned come under service provider, so you need to register with service tax under central excise department . For office or shop you need to register with stop and establishment act.
Rajendra K Goyal
(Expert) 12 May 2014
You can open account in the Bank as proprietor of the firm.
May submit affidavit that it is proprietorship and no need to register a proprietorship firm.
