Things You Best Know About Chartered Accountants in India
So, you have a company that is growing and prospering day my day and you want to make sure all the financial decisions taken are in the favour of your business getting you more profit than loss. If you have decided to take some help when it comes to your company's taxes, investments, or even payroll, then you're probably looking for an individual chartered accountant or an auditing consulting firm. Here are a few things that you really need to know before you make a decision on whom to hire.
Anyone good in accounts can call himself an accountant
Since there are no special training or licensing constraints to call themselves an accountant, anyone can place this word on their business letterheads, visiting cards and offer their services. However, if you are searching for a true accounting professional, you will need to find a chartered accountant. This title "chartered accountant" is reserved for those individuals who have completed an arduous training program and have been accepted to one of three organizations that provide testing, employment verification, and the specialized training.
A chartered accountant that can offer wide range of services is the one you should be looking for
Versatility in the services offered by the chartered accountants is what makes them the most professional financial advisors. A chartered accountant should be flexible and knowledgeable enough to manage your personal finances as well as your large corporate accounts. There are chartered accountants or chartered accounting firms that can take care of your specific needs along with providing popular services like tax preparation, investment strategies, and personnel payroll. These services can make your business run a little smoother and take away some of the daily burden.
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Private Limited Company Advantage
Apart from the only company in the ship owner or company, the limited liability company is the most popular business structure in India.
With a private limited company, the liability of directors of the company is "limited" to their contribution and responsibility of the company is independent of the personal responsibility of the business owner. This is not the case for those who run their business as a sole proprietorship or partnership firm. Shareholders of the private limited company are not responsible for debts incurred in business, although banks may ask the directors of the company to provide loan guarantees for commercial loans taken by the company name.
New Private Limited Company registration process.
MCA is the regulatory body for the incorporation of all limited companies in India, and maintains the registry of private Ltd companies.
Before commence a business as a private ltd company, the company itself has to be registered with Registrar of Companies.
Formation of a new company is a comparatively simple process. You can do through a company registration agent.
The most convenient option is to use a company formation agent. They allow you to complete the complete registration process through online, and it can all be completed in a matter of days.
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