Legal Question in Banking Law in India

Hi. I'm re-posting this from Business Law to Banking Law, in case there is some different perspective.

If my name is Sumit Kumar, and I have a Sole Proprietorship business under Sumit Paints, and I do freelance paint jobs for US clients; that is, I send them paintings etc online and offline

.

Can I open a bank CURRENT account under the name Sumit Paints?

(So that I can use Sumit Paints for money transactions, cheques etc.)

Because I have a Sole Proprietorship, my PAN card would have Sumit Kumar in it, even if my business name is different. And this is why I am confused.

Also, because I give services outside India, while living in India, do I need to register for anything other than IEC?

If I have the IEC that has Sumit Paints as the name of the company, will this be enough documentation?

Please advice.

Thank you.


Asked on 2/15/15, 12:02 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

15.02.2015

Repeat query. Already clarified twice. Any further advice or guidance will only be given on prepayment.

Read more
Answered on 2/15/15, 3:15 am


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