New Guidelines for KYC in case of proprietary concerns

Any two of the following documents have been mandated by RBI in its latest circular dated 26.03.2010 for KYC compliance of Proprietary concerns :

1. Registration certificate (in the case of a registered concern)

2. certificate/licence issued by the Municipal authorities under Shop & Establishment Act

3. Sales and income tax returns

4.CST/VAT certificate

5.certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities

6. Licence issued by the Registering authority like Certificate of Practice issued by Institute of Chartered Accountants of India, Institute of Cost Accountants of India, Institute of Company Secretaries of India, Indian Medical Council, Food and Drug Control Authorities, etc.