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Reasons Why Company Registration Is Mandatory In India
Company registration in India is mandatory as per laws. While you may not have a high turnover or maybe you are just doing business part time, it is still essential to register your company for numerous reasons.
Here are some important reasons why you must get company registration in India
1.To register your brand
Irrespective of the size of your business, you have to have a brand name of your company. It is important to know that you and your business are two separate entities and hence, it is important to register your brand with the government so it cannot be used by any other person.
2.To have a bank account for your business
As per the rules of government of India, you must have a current account in the name of your business when you start operating. While the bank cannot open a current account if you don’t have a valid registration certificate and other legal documents, so it is vital that you get your company registered. You can hire a ca firm in Janakpuri for quick company registration in India.
You need to gain the trust of your customers and hence you need to issue a valid tax invoice for your company transactions. The same is also mandatory by law. Without getting your company registered, you cannot issue a formal invoice. You can refer to a ca in Janakpuri to understand invoicing deeper.
4.Company registration in India is important to have third party agreements
A business needs other businesses to partner up and build good relationships with. To do so, you need to sign an MOU or an agreement with them. So, to sign the same on behalf of your company, your company name must be registered.
5.To have a payment gateway
Most businesses today have started online transactions. If you need a payment gateway to accept online payments through net banking, debit/credit cards, UPI etc, you need to apply first. The companies providing payment gateways require legal paperwork of your registered company.
6.To get an internet connection
If you require a commercial internet connect for high speed corporate broadband or a telephone connection for tele calling or toll free number, you must have legal registration documents of your business.
7.To offer internship certificates
If you plan to hire interns for your business, you will have to provide them a certificate in the end. Hence, you will need a registration document for your business.
8.Liability for your company
In the initial years of a business, you need to take certain risks on personal level. But as your business grows, you may need to take business loans to ensure lesser risks on personal level. This is another reason to get your company registered with a ca firm in Janakpuri.
So, here are eight very important reasons why company registration in India is mandatory.
Whether you are a start-up or an upcoming business, www.manishanilgupta.com can help you not just with company registration but every other financial and legal aspects of your business.
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