Read our Blogs to learn some amazing and helpful facts about Accounting, taxation and business etc.

  • From Accounting to Much More

    For an accurate and effective financial taxation advice, reach us today!

  • Corporate Matters and Secretarial Services

    As a chartered accountant, we provided corporate secretarial services, including incorporating companies on behalf of clients as well.

  • Incorporation of a Company

    The higher the receipts, though, the higher the rate of incorporation. ... Earnings in a company are initially taxed at a lower rate of tax

  • Taxation of Expatriates

    CBDT has clarified that an expat, if he has stayed for more than 182 days in India in the past 12 months, and is paying taxes in India, if you are an expat, reach us for any query!

  • Financial Auditing and Assurance

    Through such an assurance, internal auditing is one of the key ... that drive the financial numbers before those numbers actually hit the books. For more such interesting information, you could visit us!

Wednesday, 9 August 2017

Why Should Startups Outsource Accounting?

Managing the book of accounts is a vital part of any business and startups are no indifferent. An accurate and error free accounting greatly helps in building correct strategies for the business. Yes, accounting is crucial for any business, but the keyword here is “accurate and error free accounting”. This calls for experienced professionals who are immensely trained in the niche.

Yes, the need of professionals is undeniable, but, the truth is setting up your own in-house team of experts comes very easily for an established business, but not for a start up. Hence, many startups have now turned to outsourcing due to its various factors.

An outsourcing vendor acquires a pool of talented people who have years of experience in managing the books of accounts. This is the reason why outsourcing seems viable for any startup and has now become a growing phenomenon across borders. It not only helps a startup to manage their work within a limited budget but it also helps contribute in the expansion of the business. Here are 4 crucial reasons which any newbie in the business should know about outsourcing:

It helps you to focus on the core activities of your business

Every business is divided into core and non-core activities, while accounting is vital for any business, but it may not list in your core activities. In such a scenario it is difficult for a startup to create a perfect balance between the two activities and often one of them suffers. Thus, outsourcing accounting seems a favourable deal for a startup as it saves your time. It allows your business to focus on your main functional operations while the non-core activities are handled by the experts.

Your data is highly secured 

One of the misconceptions people usually have while outsourcing is the mishandling of the company’s data and when it’s the financial data of the company, the doubts are even immense. But the reality is that these outsourcing vendors follow robust secured frameworks which keep the data confidential. However, it’s still vital that a startup re check the security of the data before outsourcing. A right and authentic vendor would never hesitate in unveiling their security standards to their clients.

Outsourcing is affordable

One of the common things in all the startups is the limitation of the budget. Hence, outsourcing seems perfect for a startup especially while dealing with the recording and managing of the finances. Outsourcing helps the recording and managing of the accounting data by the domain experts which lies within the budget.

These are some of the reasons while outsourcing accounting is so vital and beneficial for a startup.


Wednesday, 12 July 2017

GST- Its Impact on Common Man

GST or Goods and Service Tax are considered as a multi step tax that is imposed on all the levels of product on value addition.  Since a product undergoes multiple steps from the collection of raw material to the final product, and this GST will be imposed on all levels of the product formations. When a raw material undergoes a process it will add some value at each step to convert into a final product, the GST will be imposed on all the steps of value addition.

In Indian Tax system there are two types of taxes viz. direct tax and indirect tax. Direct taxes are those that are to be paid by the person n whom it is imposed like the tax paid by all earning common man. And the indirect tax is one that is imposed on someone and is paid by someone else. A form of indirect tax is VAT, which is originally imposed on the shopkeeper it has been transferred by him on the customers. At this point GST favors the common man.

The GST is an ultimate solution for the reduction of unnecessary indirect taxes that are burden on the common man. The GST after introduction directly or indirectly affects the common man. A common man will be surely benefitted by this GST law like after the introduction of GST there will be uniform system of tax and a number of indirect taxes will be removed. 

The cost of manufacturing decreases with the decrease in indirect taxes. GST will result in reduction in cascading taxes and decreasing in the cost of products like FMCG products. The GST will ensure in increasing the tax collection from all the states and will help in raising the economic status of the states like Bihar, Jharkhand, and Odisha etc.

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Since GST is a consumption based tax, thus on its implementation the tax will reduce in the regions where the product was manufactured and only be consumed form the region where it will be consumed. For the common man who runs SMEs or other small businesses the GST will bring benefit in terms of location bias as this will develop a even tax structure for various states.

Thus, in many ways the GST will benefit the common man. For more such amazing topics, you may visit us at

Wednesday, 31 May 2017

Setting Up a Company in India – Know About its Process!

Gone are the days when family business was transferred from one generation to another without any worry. Today is a time when everything should be legal, authorised and on papers, then only business works smoothly. Earlier people used to either run their family business or look for job (which was easy to find), but today’s scenario has changed completely. people are looking for safe and secured career and so opting for entrepreneurship and starting their own business, but setting up a company is not everyone’s cup of tea, it takes lot of efforts to think about a business to look for funds to look for name and finally to get it registered.

There are many companies, which help in getting your company registered, and one should always opt for the best in order to get right thing at right time. RGSC & Company is one such company, which helps in company formation in India hassle free. This company guides you about every procedure and papers required to set up a company in India. Whether you want to set up a small company or a big company, whether head office is India or outside, this company helps you with all the information required so that you don’t have to go anywhere for anything.

To start a company you have to follow these simple steps with the help of RGSC & Company:

Step 1: Application for Director Identification Number (DIN) in form DIR -3 and Digital Signature Certificate (DSC): DIN is a unique identification number issued by Ministry of Corporate Affairs for director(s) of company. DSC is digitization of paper certificates like license, passport etc.

i. It takes 3-5 days to get DIN and DSC.

ii. Minimum two directors are required.

iii. Paid up capital should be minimum one lac.

iv. It requires

a.Id proof
b.Address proof
c.Passport size photographs
d.Current occupation
e.Email address of the applicant
f.Phone number
g.Educational qualification
h.Verification to be signed by applicant

Step 2: Company Name Availability: it is an important thing as no two companies can register in same name. For formation of private limited company, directors of the company have to provide at least six names as per preference/priority.

Availability of name can be check on Ministry of Corporate Affairs’ website. It takes 2-3 days to check name availability.

Step 3: Apply for the name available: once you get your desired name available for registration, you need to file e-form with Registrar of Companies. It takes 2-3 days to register the name of the company.

Step 4: Drafting of Memorandum of Association (MOA) and Articles of Association (AOA): MOA is fundamental provisions of company’s constitution covering its main object and other objects of company. AOA is rules and regulations governing the internal management of the company.

In drafting MOA and AOA, people need to specify Name, Address, and occupation handwritten along with signature on subscription pages of MOA and AOA. It takes 2-3 days to do this procedure.

Step 5: Filing of e-forms with RoC: 

1. Form INC-7: for application of Incorporation of the company you need following attachments:

i. MOA
ii. AOA
iii. Declaration by Professional in INC-8
iv. Affidavit from the subscriber to the Memorandum in Form no. INC-19
v. Current residential address
vi. Identity proof
vii. Signature verification of subscribers

There are other attachments also which are optional to attach depending upon the case.

2.Filling of Form INC-22 for notice of situation of registered office along with few attachments required.

3.Form DIR-12 for providing information about particulars of appointment of directors of the company along with key managerial personnel along with attachments required.

Step 6: Payment of RoC fees and Stamp Duty: Payment of RoC fees and stamp duty is made based on authorised capital of the company but it is done only when documents are filed online.

Step 7: Verification of documents by RoC: After making payment, scrutiny of documents by RoC is done and if any change is required, it has to be done and then submitted again.

Step 8: Issue of Certificate of Incorporation by RoC: Once all the forms get approval by RoC, digitally signed “certificate of Incorporation” is sent to the directors via email.

Other than helping in formation of private limited company, RGSC & Company also provides CA services in Delhi, India so that after company formation, they can also do auditing of the company work and provide extended support to the company owners.

There are many companies, which help in company formation in India, but one has to be very careful in selecting right company to give a kick-start to a bright future. It is very essential for a company to be registered or else authentication of company always remains in doubt. People have become so tech savvy that as soon as they hear about a new company, they immediately look for it on internet in order to know more about it, to check its authentication. A registered company along with a registered website helps a lot in bringing new customers and helping business to earn its cost and profit over the years.

Other than targeted customers, company registration also helps in expanding business to different parts of the country and world. When company is registered and established in decent way, it is easy to find financiers and investors for the company. Investors and financiers also want to know where their money is invested and what will be the return on their investment.

Company registration is useful when a general meeting of company is held; it helps in creating professional corporate image of the company and for inspection purpose by other organisations. It provides a complete picture of the legal status of the company and is a key archive for drawing up indicators of economic and business development in each area to which it belongs. If a company fails to present its register when asked for, it can be asked to wind up immediately. Thus one should get company registered without fail and run a successful business.

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