A Chartered Accountant are not
helping only to plan their taxes and other compliances, but also to assist at
various stages of setting up business. Their expertise in major fields related
to business like laws, finance and taxes, agreements, can be an integral part
while formulating the strategies, applying for business loan, maintaining
accounts, the software to be installed, the grants/subsidies it can receive,
etc.
Therefore, consulting with a CA while planning a startup can really be beneficial as one can get clarity on major aspects early rather than getting trapped later. CA experts in India can help in preparing the perfect accounting structure of your company.
Let us discuss in brief a CA’s
role in setting up a business:
- Business plan
Because of his expertise, a CA is
able to estimate the financial predictions based on studying the market for the
related product and the taxation policy of the government. CA’s can make use of
the best talent and in-depth knowledge to help their clients in boosting their
profit margins from the very beginning.
- Company registration and legal structure
There are different types of
registration ie. Limited companies, limited liability partnerships or
corporations, others could be sole traders or proprietors. Each has different
laws attached to it. Company
registration in Delhi has different governing laws, compliances and tax
laws applicable to it, which a CA can easily elaborate and hence let you decide
as to what will be the best practice for your business.
- Assist you in applying the business loan or overdraft
Knowing that a CA is responsible
behind your documents and loan application, your chances of getting the credit
enhances. They’ll also be able to answer any questions your bank might have ask
regarding revenue projections and expenses. Also he can guide you on the type
of loan and the interest rate attached to it.
Conclusion:
Professional CA firms can also help you deal
with the complicated tax compliances, which may lead to huge penalties if
ignored. Also, they represent your case in front of the tax officers and
tribunals on your behalf. They can also inform you about anything that you need
to know about such paperwork and documentation. Moreover, they assist you in various
other business aspects like getting Digital signature, guide you while external
audit of your company, raising a red flag before any discrepancy caught by the
auditor or tax officer, Subsidies and penalties issued by the Government, etc.
In nutshell, a CA can lead to the
growth of your business, consulting him should be inevitable for the long term
benefit of you company
No comments:
Post a Comment