opening of bank account

uday (Querist) 23 March 2010 This query is : Resolved
Sir,
Can we open a bank current account with only a partnership deed? Without being registered with the sales tax dept... or without any VAT registration.

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adv. rajeev ( rajoo ) (Expert) 23 March 2010
yes it can be opened. Banks are no way concerned with the VAT regn.,

Daksh (Expert) 23 March 2010
Dear Mr.Uday,

The affairs of any bank are conducted as per its manual approved by Central Bank (i.e.RBI) - which does not bars the same hence the account can be opened.

Best Regards

Daksh

Guest (Expert) 23 March 2010
yes the account can be open...

Parveen Kr. Aggarwal (Expert) 23 March 2010
Registration under the Sales Tax or VAT Act has no connection with opening of a bank account. A current account with bank can certainly be opened without such registration.

Parthasarathi Loganathan (Expert) 23 March 2010
Partnership Deed should contain a mandate as to the nature and operations capacity of the account before it can be admitted as a document alongwith account opening form. Banks are insisting this and nothing else