Chartered Accountants (CAs) play a crucial role in the company registration process in Bangalore, as they do in most parts of India. Their expertise ensures that the entire process is completed in compliance with legal and regulatory frameworks. Here are the primary roles that Chartered Accountants play during Company registration in Bangalore:

1. Advising on the Type of Company

  • Selection of Business Structure: CAs help in deciding the type of company to be formed, whether it’s a Private Limited Company, Public Limited Company, Limited Liability Partnership (LLP), or One Person Company (OPC). The choice depends on various factors such as business scale, liability, taxation, and ownership structure.
  • Taxation and Compliance Considerations: They also provide advice on the best structure from a taxation and regulatory compliance perspective, helping the company to optimize its financial position.

2. Name Approval

  • Selecting and Approving Company Name: CAs assist in selecting a suitable name for the company that is unique and does not violate the rules of the Ministry of Corporate Affairs (MCA).
  • Filing with MCA: They handle the process of filing the proposed company name with the Registrar of Companies (RoC) for approval.

3. Drafting the Memorandum and Articles of Association (MoA & AoA)

  • MoA & AoA Preparation: CAs are responsible for preparing and drafting the Memorandum of Association (MoA) and Articles of Association (AoA), which define the company’s objectives, internal rules, and governance.
  • Compliant with Regulations: These documents must comply with the provisions of the Companies Act, 2013. CAs ensure that these documents are legally sound and clearly outline the company’s structure and operations.

4. Filing with Registrar of Companies (RoC)

  • Incorporation Application: Chartered Accountants handle the entire process of filing the application for company incorporation with the Registrar of Companies (RoC) in Bangalore, which includes submitting the necessary documents such as:
    • Proof of Address of the Registered Office
    • Identity and Address Proofs of Directors
    • Director Identification Number (DIN)
    • Digital Signature Certificates (DSC) of the Directors
    • No Objection Certificates (NOC) from the property owner, if required.
  • Ensuring Legal Compliance: They ensure all the forms are filled out accurately and submitted in accordance with the law.

5. Tax Registration and Compliance

  • Applying for PAN & TAN: Chartered Accountants help in obtaining a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN), which are required for tax filings.
  • GST Registration: If the company’s turnover is expected to cross the threshold limit set by the GST Act, CAs assist in obtaining GST registration.
  • Filing of Returns and Tax Compliance: They guide the newly registered company on ongoing compliance matters, such as filing tax returns, and ensure timely payments of statutory taxes like GST, Income Tax, etc.

6. Opening a Bank Account

  • Assisting with Bank Account Opening: Chartered Accountants often help the company open a corporate bank account by providing the necessary documents required by the bank.

7. Post-Incorporation Compliance

  • Statutory Registers & Books: After the company is incorporated, CAs ensure that the company maintains all the statutory registers and books as per the Companies Act.
  • Filing Annual Returns: They help with the filing of annual returns, financial statements, and other compliance requirements with the Registrar of Companies.

8. Corporate Governance and Advice

  • Compliance with Corporate Laws: CAs offer ongoing consultancy on compliance with corporate governance and other legal requirements. They ensure the company adheres to all the rules stipulated under the Companies Act, 2013.
  • Financial Reporting & Audit: They can also help in the financial reporting and audit process, ensuring the company’s financial health is in good standing.

9. Legal and Regulatory Advisory

  • Advising on Legal Structures: CAs often work with legal professionals to ensure that all legal documentation is in order, and they help resolve any legal issues that might arise during the registration process.

Conclusion

Chartered Accountants in Bangalore are integral to the smooth and efficient registration of a company. From the initial advisory stage to ensuring long-term regulatory compliance, they provide expert assistance throughout the process. Their knowledge of taxation, corporate laws, and financial management ensures that the company is set up on a solid foundation, legally sound and compliant with Indian regulations.

Would you like to know more about any specific step in the process?