Account Activation Checklist

Individual(Unregistered)

It is a business that is not registered with the relevant government agencies and does not have a legal business structure.

Individual PAN
Bank account details or cancelled cheque
Aadhaar of the business owner or other government ID proof

Proprietorship

Proprietorship is a type of business owned and operated by a single person. Also known as a sole proprietorship, the government recognises this type as a legitimate business structure.

Individual PAN
GSTIN(if registered)
Bank account details or cancelled cheque
Aadhaar of the business owner or other government ID proof
Business registration proof (if GST unregistered)
- Registration Certificate from Registrar of Company for a Jurisdiction
- Certificate/ License under Shops & Establishment Act and/or other Acts as applicable
- Sales Tax or Income Tax Return
Line of business(LOB) specific documents

Public/Private Limited

Public Limited	Private Limited
A public limited company, also known as PLC, is a business structure that incorporates a large or publicly traded company. It is a legal entity separated from its owners and owned by several shareholders who hold shares of stock in the company.	A private limited company, also known as a limited liability company or LLC, is a business structure that incorporates a small or medium-sized business. It is a legal entity separated from its owners and owned by a few private shareholders.

Business PAN(COMPANY)
PAN of the business owner
CIN
GSTIN(if registered)
Bank account details or cancelled cheque
Aadhaar of the business owner or other government ID proof
Signed Declaration of Beneficial Ownership
Line of business(LOB) specific documents

Limited Liability Partnership(LLP)

LLP is a type of business structure that combines elements of partnerships and corporations. They enable the protection of a corporation and allow the flexibility of a partnership.

Business PAN (FIRM)
PAN of the business owner
LLPIN
GSTIN (if registered)
Bank account details or cancelled cheque
Aadhaar of the business owner or other government ID proof
Signed Declaration of Beneficial Ownership
Line of business (LOB) specific documents

Partnership

Partnership is a business type when two or more people own the business and share profits and losses.

Business PAN (FIRM)
PAN of the business owner
GSTIN (if registered)
Bank account details or cancelled cheque
Business registration proof
- Partnership Deed
- Registration Certificate from Registrar of Firms
Signed Declaration of Beneficial Ownership
Aadhaar of the business owner or other government ID proof
Line of business (LOB) specific documents

Society/Trust/NGO

Society	Trust	NGO
A society is a group of people who come together for a common purpose, such as a social, cultural, or charitable cause. They are often registered with the government and may have legal status as nonprofit organisations.	A trust is a legal arrangement in which one or more trustees manage assets on behalf of one or more beneficiaries. Trusts manage property assets, protect finances, serve as a charitable organisation, and perform estate planning.	NGO stands for Non-Governmental Organisation. They are a nonprofit organisation independent of government and focused on social or environmental causes. Often registered as charities or other nonprofit organisations, they may receive funds from governments, foundations, and individual donors.

PAN (TRUST)
PAN of the business owner
- GSTIN (if registered)
- Bank account details or cancelled cheque
- Aadhaar of the business owner or other government ID proof
- Signed Declaration of Beneficial Ownership
- Business registration proof
  - Trust Deed /Society/NGO Registration Certificate
- Line of business (LOB) specific documents