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Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning5 Marks
Question
What documents are to be provided while opening a current account?
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Answer

It includes:Basic Common Documentation :
  1. Proof of Identity: PAN Card, Voter Id Card, Passport, Driving License.
  2. Proof of Address: Latest Telephone Bill or Electricity Bill.
Public or Private Limited Companies:
  1. Certificate of Incorporation and Commencement of Business.
  2. Memorandum and Articles of Association.
  3. Board resolution authorising the opening and operation of the account.
  4. PAN or GIR No. or completed Form 60.
  5. List of Directors with residential addresses.
Partnership Firms:
  1. Partnership Deed and Registration Certificate.
  2. Shop and Establishment Certificate.
  3. Letter from partners approving the persons concerned to open and operate the account.
Proprietorship Concerns:
  1. Certificate from State Govt. or Statutory Body or Trade License or Sales Tax Certificate or Shop and Establishment Certificate.
  2. Letter of proprietorship, duly signed by the proprietor in his or her individual capacity (with a rubber stamp) Hindu Undivided Family.
  3. Letter of HUF duly signed by Karta and all Co-Parceners.
  4. PAN or GIR No. or completed Form 60.
  5. Names of Karta and Co-parceners with residential addresses.
Latest passport size photographs of all the authorized signatories Trusts:
  1. Copy of the trust deed.
  2. Copy of the registration certificate.
  3. Copy of the resolution by the trustees authorising the members concerned to open and operate the account.
  4. List of Trustees with residential addresses.
  5. Photographs of the members operating the account, Associations or Clubs.
  6. Bye-laws of the association or club.
  7. Certificate of Registration.
  8. Copy of the resolution by the Board authorising the members concerned to open and operate the account.
  9. Photographs of the members operating the account.

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