Account Activation Checklist

Individuals (Unregistered business)

If you run a business without any formal registration with the government, you have an unregistered business.

Business PAN (Your personal PAN that is linked to your business account)
Bank account details or a cancelled cheque (The details should be in the business owner's name)
Aadhaar number of the business owner (Will be validated via OTP verification)
Line of business(LOB) specific documents

📘
The PAN and Aadhaar information should belong to the same person (business owner).

Proprietorship

If you are the sole owner and operator of your business with no legal distinction between you and the business, you have a sole proprietorship.

Business PAN (Your personal PAN that is linked to your business account)
Bank account details or a cancelled cheque (The details should be in the business owner's name)
Aadhaar number of the business owner (Will be validated via OTP verification)
If you do not have GSTIN, then provide any of the following proof of business identity and existence:
- Municipal Certificate
- Shop Establishment Certificate
- Udyog Aadhaar
- Other Government-Issued Registration Proof
Line of business(LOB) specific documents

📘
The PAN and Aadhaar information should belong to the same person (business owner).

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)
CIN
Bank account details or a cancelled cheque (The bank account details should be in the business name as per COMPANY PAN)
PAN of the Authorised Signatory
Aadhaar of the Authorised Signatory

(if Authorised Signatory is not the Director)

PAN of the Director
Identity proof of the Director
Board Resolution signed by the Director
Line of business(LOB) specific documents

📘
The PAN and Aadhaar information should belong to the same person (Authorised Signatory or the Director)

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 (COMPANY)
LLPIN
Bank account details or a cancelled cheque (The bank details should be in the name of the business as per PAN)
PAN of the Authorised Signatory (Partner of the firm)
Aadhaar of the Authorised Signatory (Partner of the firm)

(if Authorised Signatory is not the Partner of the firm)

PAN of the Partner
Identity proof of the Partner
Board Resolution signed by the Partner
Line of business(LOB) specific documents

📘
The PAN and Aadhaar information should belong to the same person (Authorised Signatory or the Partner)

Partnership

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

Business PAN (FIRM)
Bank account details or a cancelled cheque (The bank details should be in the name of the business as per PAN)
PAN of the Authorised Signatory (Partner of the firm)
Aadhaar of the Authorised Signatory (Partner of the firm)

(if Authorised Signatory is not the Partner of the firm)

PAN of the Partner
Identity proof of the Partner
Board Resolution signed by the Partner
Business registration proof
- Partnership Deed
- Registration Certificate from Registrar of Firms
Line of business(LOB) specific documents

Hindu Undivided Family (HUF)

The PAN information of the HUF
The PAN information of the business owner
Bank account details or a cancelled cheque
Aadhaar number of the business owner (Will be validated via OTP verification)
HUF Registration Proof - HUF Deed
Line of business(LOB) specific documents

Society/Trust/NGO/Local Authority/Artificial Juridicial Person/Government

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.

Local Authority	Artificial Juridicial Person	Government
A local authority is a government body at the municipal or regional level responsible for delivering local services and facilities, including education, housing, and public safety.	An artificial juridical person is a legal entity, like a corporation or organization, recognized by law as having rights and responsibilities similar to those of a natural person, but it is not a human being.	A government is the system or group of people that governs an organized community, such as a state, and is responsible for creating and enforcing laws, policies, and public administration.

The Business PAN information of TRUST/Society/Local Authority/Artificial Juridical Person/Government.
The PAN information of the Authorised Signatory (Trustee of the firm)
- Bank account details or a cancelled cheque
- Aadhaar number of the Authorised Signatory (Trustee of the firm)

If Authorised Signatory is not the Trustee of the firm

The PAN information of the Trustee
Identity proof of the Trustee
Board Resolution signed by the Trustee
Business registration proof
- Trust Deed/Society/NGO Registration Certificate
- Certificate of registration number issued by charity commissioner or registrar of cooperative society or any other competent authority
- Letter of Intent/Authorisation (LOI)/(LOA)
- Society Certificate
- NGO Registration Certificate
Line of business(LOB) specific documents