One of my client is starting a proprietorship firm. He doesnot need to comply with service tax and TAN, because he is just starting. But when he applies for current account, bank needs some registration. If he goes for service tax registration for the sake of opening only current account. Does he need to pay service tax? His TO will not exceed 10L.
03 March 2014
service tax reg is required only when gross income from such service exceeds rs 9 lakhs and payment of service tax only when it exceeds 10 lakhs...
he can provide pan no, licence from municipalty etc or income tax returns filed in personal life etc.
03 March 2014
Upto the 10 lakhs turnover no need to registered with service tax. For opening of bank account in the name of company it will be proprietor ship firm. All the details will be mention for bank account to proprietor and another option is he can take the telephone connection and rent agreement on the name of firm.
CAclubindia
