The Reserve Bank of India vide its Notification No DBOD. AML.BC. No 93 /14.01.001/2011-12 dtd April 17, 2012 has given new guideline in respect of acceptance of Know Your Customer (KYC) documents in respect of Proprietary Concerns. As per the above guideline, the following documents are also to be accepted as KYC documents in addition to the documents already required under circulars DBOD. AML BC. No. 80/14.01.001/2009-10 dated March 26, 2010 and DBOD. AML.BC. No. 38 /14.01.001/2010 -11 dated August 31, 2010 , for opening account in the name of Proprietary concerns :-
- The complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated/ acknowledged by the Income Tax Authorities.
- Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern.The relevant RBI Circular is reproduced below :-[gview file=”http://rbidocs.rbi.org.in/rdocs/notification/PDFs/CCEO170412S.pdf”]
