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Requirements for Opening a Bank Account

To open a bank account for a sole proprietorship, RBI’s KYC norms mandate that any two of the following document must be submitted to the Bank:

· Certificate/license issued by the Municipal authorities under Shop & Establishment Act

· Sales and income tax returns

· CST/VAT certificate

· Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities

· License issued by the Registering authority like Certificate of Practice issued by Institute of Chartered    Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India,   Indian Medical Council, Food and Drug Control Authorities

· Registration/licensing document issued in the name of the proprietary concern by the Central      Government or State Government Authority/ Department, etc.

· Banks may also accept IEC (Importer Exporter Code) issued to the proprietary concern by the office of    DGFT as an identity document for opening of the bank account etc.

· Letter from your CA regarding the nature of your business.

· Letterhead with the firm's name and address.

· Stamp in the name of the Proprietorship.

· Address and ID Proof of the proprietor. If proprietorship address is different then you will also need office    premise address proof.

Tax Origin can help you to get certificate from CA to get you started with opening of bank account.