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of <h1>New Dealers Must Provide Bank Details for Registration; No TIN Needed for Intra-Delhi Businesses Under Rs. 20 Lakhs Turnover.</h1> Dealers applying for new registration with the Department of Trade & Taxes must provide main bank account details as a mandatory requirement. Some banks incorrectly demand a TIN for opening current accounts, although RBI KYC norms do not require this. The department issues a TIN only after receiving bank account details. Businesses with an annual turnover of Rs. 20 lakhs or less, conducting only intra-Delhi activities, are not required to register with VAT and can open current accounts without a TIN. Banks are requested not to insist on TIN details for these dealers to facilitate trade and commerce.
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