As per our understanding , you are willing to put your car on rent . If you put your car under rent without driver , then it may be covered under the transfer of right to use of the car and can be taxed under the state VAT . However if you give your car along with the driver then you retain the control on the car and it can be covered under the service tax .
Now when the service tax becomes applicable , the service tax can be paid by the service provider ( You ) or service receiver ( reputed travellers ) or both . The law says that if that when the service is provided or agreed to be provided by way of renting of motor vehicle to a person who is not in the similar line of business . Assuming that the reputed traveller is engaged in similar line of business ( renting of motor vehicle ) , the provision of reverse charge will not apply and you will be liable to collect and pay the service tax directly .
You can very well open the current account for this purpose . Regarding side business we can not comment as it is dependent upon various factors like your employment contract etc and hence our reply is confined to the tax matter only.