If you are thinking of starting your own business then you must be well aware of the rules and regulations followed in your country. Whether it is a partnership, proprietorship or a limited company, you must know the fundamental laws that governs the company formation and what are the processes required to run it smoothly. Choosing a company name, registering the company and filing income tax returns are few of the specific rules that have to be followed while venturing into business.
During the process of company formation and navigating out what will initially become the prototype, business owners should take help of a corporate law firm that will guide them at each and every level of the business. Nowadays, there are many corporate law firms that offer an array of services to ensure business growth and development. These services include, company incorporation services, post incorporation services, NRI services, entry India services, compliance management and accounting and payroll services.
Let us know what are the advantages of hiring company incorporation and accounting and payroll services:
First advantage of hiring company incorporation services is that you get an expert advice on the process and everything is taken care by the service provider. You do not have to bother about anything and can focus of production. They suggest you ways how you can reap tax advantage through company incorporation. Company incorporation provides personal liability protection. An incorporated company is an individual legal entity liable for its own debts. Shareholder are only responsible for servicing debts and liabilities that are equivalent to their equity in the company. The assests of the incorporated business account for the payment of creditors of a corporation and not the individual assets of directors, shareholders and officers. In the same way, personal assets of the company owners is shielded by the status of individual legal entity in case of a legal action on incorporated company.
Hiring professional accounting services can allow you to understand the financial status of your organization properly. They will let you know about the cash flow in your company. They can alarm you about any financial issue to be resolved. Accounting services also help you in planning your expenditure inorder to ensure optimization of cash flow. This helps in laying down strong foundation of your business. They can help you set progressive and achievable goals. Professionals at accounting firms have deep understanding of the rules and regulations of accounting. They offer best advice on money matters and tax planning.
Hiring payroll services will eliminate the need to invest in latest payroll softwares and hiring resources and training them. They ensure that employees are paid on time and take care of issues related to health plans, retirement plans, holding contributions etc. By handling over your payroll processes to an external agency you get more time to focus on core business.
Thus we see outsourcing accounting, payroll and company incorporation services makes the business processes more efficient and smooth.
About Balakrishna Consulting
Balakrishna Consulting is a leading corporate law firm of company secretaries, cost accountants, advocates and CA in Bangalore. The company is specialised in providing company incorporation services, company formation, LLP registration, assistance in setting up business in India, NRI services and accounting and payroll services. Balakrishna Consulting has been delivering services to around 50 foreign clients from 23 different nations such as France, UK, USA, Spain, Holland, Hungary, Taiwan, China, Singapore, Japan, South Africa and South America. BCL is associated with MSI Global Alliance (MSI), a top ranked global association of independent accountancy and law firms.
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