Avoid registration of Proprietorship Firm
This query is : Resolved
03 July 2011
1. Can I avoid registration of proprietorship firm?
2. If so, will the banks allow creating a current/savings account of the entity?
2. If so, will the banks allow creating a current/savings account of the entity?
03 July 2011
There is no registration of a proprietorship firms is required. However individual states may require trade licence or VAT registration as per nature of business. Normally without a trade licence current accounts are not opened in the name of a business entity.
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