1) for running your music business you will need license under Shop and establishment act , . you will need service tax registration if taxable services are more than Rs 10 lakhs in a year

2) .you must satisfy RBI guidelines for KYC for opening current account in name of sole proprietorship

3) obtain PAN card in name of sole proprietorship

4) Professional Tax: This tax is mandatory if you have even one single employee. Each state is allowed to create its own guidelines, so it would be advisable to check whether it is mandatory to register for professional tax in your particular state.

1. Either it can be a sole proprietorship or a company. It cannot be a sole proprietorship company. If you wish to set up a sole proprietorship then even a current account in a bank will suffice as a sole proprietorship does not require mandatory registration, whereas a company will have to be incorporated under the company law.

2. Remittance of money to a sole proprietorship firm will have the same legal character as to a company. So you can attempt to convince them to let you make a firm instead of company. Be that as it may, to set up a company the memorandum and articles of association are to be drafted. This is the first step in the formation of a company. This should be got drafted from a lawyer.

3. A company, as it is a separate legal entity, is also required to have a registered office where all the communications relating to its functioning are to be sent. Thereafter, you have to chose the name of the company. Once all this is done you can apply to the Ministry of Corporate Affairs for the incorporation of the company. The certificate of incorporation is now issued within 24 hours if all the documents are in order.

RBI guidelines For sake of clarity, in case of accounts of proprietorship concerns, it has been decided to lay down criteria for the customer identification procedure for account opening by proprietary concerns. Accordingly, apart from following the extant guidelines on customer identification procedure as applicable to the proprietor, banks / financial institutions should call for and verify the following documents before opening of accounts in the name of a proprietary concern:

Proof of the name, address and activity of the concern, like registration certificate (in the case of a registered concern),

Certificate/licence issued by the Municipal authorities under Shop & Establishment Act,

Sales and income tax returns,

CST/VAT certificate,

Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities,

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.

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.

ii) Any two of the above documents would suffice. These documents should be in the name of the proprietary concern.

3) in your case you can apply for licence under shops and establishment act in name of firm

4) file income tax returns in name of proprietorship concern

5) pay profession tax in name of sole proprietorship firm .

If you desire to start your own company (whether security or any other company), you can register it under shop and establishment act. A PAN on sole proprietor to be obtained. Current account in the name of the company with a bank observing KYC norms to be opened. Professional tax and service tax (if necessary) to be paid.

These will be sufficient for the start up company for the present.