Hello vydyulashashi...it depends on how you want it. I Google the difference between "Individual" and "Business" for Google Adsense application and below is the URL for the answer and the answer itself. Beware that you can't change either once you created your account....read below, hope this helps!
There's no difference in the services or payment structure between Individual and Business accounts. Business account payments will be made payable to the Company Name, while Individual accounts are paid out to the Payee Name of the account holder. Do note, however, that the Rapida and Western Union Quick Cash payment options are only available to publishers with individual-type accounts (not available in all locations).
Once your application has been submitted, you can't change your account type. Should you ever need to select a new account type, our specialists will work with you to close your current account and to open a new account with your updated information.