What are the CDD Measures for sole proprietorship as per PMLA Act 2002?

In case the customer is a sole proprtieorship following documents are required for due diligence

​

a. the Aadhaar number where,

(i) the proof of possession of Aadhaar number where offline verification can be carried out; or

(ii) the proof of possession of Aadhaar number where offline verification cannot be carried out or any officially valid document or the equivalent e-document thereof containing the details of his identity and address; and

​

b. the Permanent Account Number or the equivalent e-document thereof or Form No. 60 as defined in Income-tax Rules, 1962; and

​

c. Business registration certificate: If your sole proprietorship firm is registered with the government, you may need to provide a copy of the registration certificate.

• Registration certificate

• Certificate/ license issued by the municipal authorities under Shop and Establishment Act.

• Sales and income tax returns.

• CST/VAT/ GST certificate (provisional/final).

• Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities.

• IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT or Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute.

• 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, etc (not less than 3 months old).