My client son is currently taking home tutions & want to start his own coaching classes in the name of lets say ABC Tutorials. He want to issue receipts, have PANNo & open bank account in the name of ABC tutorials. I suggested him to start ABC Tutorials in his individual capacity & not in the form of Pvt Ltd. Does he need to register ABC Tutorials anywhere so that he can appy or PAN no & other tings? Thanks
28 July 2014
In case of propitiatory concern, no separate PAN is issued but proprietor's PAN is used.
As far as registration is concern, you may operate the institute with out registration but check whether the shop and establishment registration required is that State. If your gross receipt is more than 10 lacs, you need service tax registration.
For Bank account, plz visit bank branch and get the check list for documents required for opening of account.
CAclubindia
