Corporate Secretarial Services

Top Reasons for Outsourcing Corporate Secretarial Services

Corporate secretarial services contribute to being one of the most important services an organization needs. Corporate secretarial services are required as a specialist team of highly qualified Company Secretaries offers support and advice to clients and also make sure that obligations of clients relating company law compliance services are met timely in a cost-effective manner. Nowadays you can easily find online company formation services, company secretarial services or company law compliance Services through our online platform of CAONWEB.

Outsourcing Corporate Secretarial services were not considered as an equally feasible activity as other functions of business, because organizations always had a fear of sharing their business information with outsiders and believed that it can be managed with the in-house team.

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However, the majority of companies these days prefer outsourcing company secretarial services because of the reasons/ benefits it offers.

Read other blog : Online Income Tax Return Filing

Here are the top reasons for outsourcing corporate secretarial services:

  • Knowledge and Experience: The outsourced team of Company Secretaries has in-depth knowledge and experience in handling all corporate law compliances applicable to a company. Therefore, all the processes are done more easily and efficiently with expert knowledge. They also execute work within the stipulated timeframe and help to reduce the penalties and other monetary loss and enhances the goodwill of an organization.
  • Reliability: Having knowledgeable, well-trained and experienced team of Company Secretaries lets you have expert advice and feedback on how you can improve your business operations. You can rely on them to meet all your requirements without any worry as they will always have a solution to your problems.
  • Accurate and Consistent Handling: There is timely and consistent handling of administrative requirements of an organization when these services are outsourced. It enables an organization to have a team of experts who keep a track of records and save the organization from being charged for non-compliance, late document submission or inaccurate reports.
  • Time-Saving: The Companies Act 2013 prescribes various compliances for Companies and managing the day to day operations of your business along with complying the corporate laws can be difficult for any entrepreneur. Therefore, it is essential to take the help of a professional for company law compliance services so that you can focus on your main business activities. 
  • Cost Effective: Outsourcing company secretarial services save you the cost of hiring and training of in-house team without any compromise on quality. The cost spent on infrastructure, employment taxes and other overhead costs are saved by outsourcing services to third-party. And, the money saved can be used to expand the business.

Also Read this blog: Are you looking for a Chartered Accountant online in India?

In order to help our clients in all the corporate secretarial services, we at CAONWEB provide you option of hiring the best Company Secretaries having expertise in the company formation services, company secretarial services or company law compliance services. 

You can contact professionals through CAONWEB for company secretarial services, company formation services, company law compliance services and other legal & regulatory compliance in India.

Trademark

ADVANTAGES OF TRADEMARK

Trademark Registration is way of giving legal protection, unique identification & to differentiate your product in the market from your competitors. This unique identification is given in the form of certain word, logo, symbol, character, numerals or a combination of these.

Trademark registration is a time consuming process and one should take due care before finalising trademark of their product because it will ultimately create the long term memory for the product in market.

There are various qualities which a trademark must possess viz. easy to speak, pronounce & remember, without losing its uniqueness & distinctive character.

Trademark of a product/service helps them in creating its brand value which ultimately makes it unique and adds to the growth of product/service.

GST Registration
  • Brand Protection: Creating & managing brand of your business is necessity but providing it due protection is something one should also focus at while creating a brand. This can be provided by registering it with Intellectual Property Rights Registrar.
  • Goodwill: It is something which requires continuous hard work, a sense of trustworthiness with a brand, a reputation which a particular brand possesses in the market. This is a quantifiable asset which can be redeemed while it is being sold.
  • Product Differentiation: It is a marketing process of communicating the uniqueness & distinctiveness of a product to potential customers. This can be done easily by Trademark registration. It helps to highlight & differentiate your product in the market.
  • Recognition to product/service: Trademark registration of product provides it due recognition amongst the category; product is falling under.
  • Quality Assurance: While developing the product/service one must give priority for its quality and this can be done if the product has a due certificate for it.
  • Prevent unfair trade practices: once you have registered under trademark registration act, no other company/competitor can use your logo, symbol which you have registered under your name.
  • Legal proceedings: If any person tries to use the trademark of product without the permission of the registered owner, then legal proceedings can be started in the court of law against the individual doing so.
  • Ownership rights: Primary & exclusive right over the trademark lies with the owner itself. It gives owner the right to sue someone who is using its trademark without permission and can stop others from unauthorised access to that trademark.
  • Use of “R” symbol: one can use “R” symbol under your logo when you have registered it under the trademarks registration act. This symbol use it. If anyone try to jump this clause, legal proceeding can be started against states that this logo is registered and no one else has the primary right to the said person.
  • Edge over competitors in market: Getting your product/service registered under trademark registration act, will certainly give you an edge over your competitors in the market
  • Additional brand presence in the market
  • Less volatility in business
  • Easy market penetration
  • Competent brand value

How to register a company online in Delhi?

A Private Limited Company is the best and highly recommended business structure to start a business in India. Online company registration in Delhi is easy to form and operate therefore being the most acceptable form of business.  Let’s have a look at the benefits of Company Incorporation:

  • Provides limited liability to its shareholders
  • The directors may be different form the shareholders i.e. owners
  • Tax benefits
  • Ease of getting bank loans
  • Legal Recognition
  • Perpetual succession
  • Preferred by investors

The private limited companies incorporated are governed by the Ministry of Corporate Affairs and to speed-up the incorporation the registration application is processed by the Central Registration Center. The steps for Private Limited Company registration in Delhi is as follows:

Important Points to be kept in mind while doing Online Company Registration In Delhi:

  • ONE PERSON COMPANY: One person company registration in Delhi, An OPC as the name suggests is a combination of benefits derived from sole proprietorship and Company form of business, it is suitable for those who want complete control over the ownership, management and operations of the company. At the initial stage one needs to decide whether they will go for a One Person Company or private limited with 2 directors and shareholders.

Related Blog – All you need to know about Company Registration as a startup

  • UNIQUE NAME: Once decided on the form of private limited company the next step is to find a unique name for the proposed Company. The name of the proposed company should not be similar with any existing company name. So a thorough check of MCA database and trademarks in the related class needs to be done before applying the name with the ministry of corporate affairs.
  • DOCUMENTS REQUIRED:
  1. PAN Card of the promoters
  2. Passport size photograph of both the promoters
  3. Aadhaar Card/ voter id of the promoters
  4. Bank Statement/Utility bill of both the promoters
  5. Rent agreement, if the registered place of business is a rented accommodation
  6. Electricity bill/ Water bill (registered place of business)
  7. No Objection Certificate
  • TIME TAKEN: Online Company registration in Delhi takes around 7-10 working days rest depends on the approval by the ministry.
  • PROFESSIONAL GUIDANCE: The incorporation process is not an easy task it requires a professional interface. From selecting the appropriate name in accordance with the Company (Incorporation) Rules, 2014 to the drafting of Memorandum of association and the incorporation documents, along with certification the forms professional guidance is required at every step of Company Incorporation.

To know more read: Private Limited Company

Frequently Asked Questions:

Q1. Can the Directors and shareholders be the same person?

Yes, the Shareholder can be the proposed directors of the Company.

Q2.  What is the minimum capital requirement?

There is no such requirement of minimum capital but it is always advisable for private limited companies to have at least Rs.1 lakh as authorised capital.

Q3. Is there a need for professional certification?

Yes the Incorporation forms need to be certified by Chartered Accountant/ Company Secretary/ Cost Accountant or Advocate.

Q4. What is COB?

Every company incorporated after 01.11.2018 needs to file a form for Commencement of business.

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Move To Accelerate “Make In India” & Boost Economy

Total Revenue Foregone: INR 1, 45,000 cr. per year.

All these announcements will be applicable from 01.04.2019 (Current FY) any advance tax paid will be adjusted.

Income tax act has been amended to promote growth & investment wef F.Y. 2019-20 which allows any domestic co. to pay income tax @ 22%

Condition: They will not avail any exemption or incentives
Effective tax rate is 25.17% {incl. of all surcharges}
Minimum Alternate Tax {MAT} Not applicable

To attract fresh investment and boost to make in India another provision is added to Income Tax act: New co. incorporated on or after 01/10/2019 getting fresh investment in manufacturing pay income tax @15%.

Condition: They will not avail any exemption or incentives
Effective tax rate 17.01% {incl. of all surcharges}.
Minimum Alternate Tax {MAT} Not applicable

A co. which doesn’t opt for concessional tax regime and avails tax exemption shall continue to pay at pre amended rate.
However, these co. can opt for concessional tax regime after expiry of tax period.

Related Blog – All you need to know about Company Registration as a startup


Minimum Alternate Tax (MAT): Reduced from existing 18.5% to 15%.

Stabilise flow of funds in capital market: Enhanced surcharges introduced in finance act (II) 2019 shall not apply on capital gains arising on sale of equity share in a co./business/trust liable for Securities Transaction Tax {STT}.

Expand scope of CSR: 2% spending can be spent on incubators funded by centre/state government/PSU/contribution to IIT, National labs, all under ICAR, DRDO etc. engaged in research science/research comes under CSR

ANALYSIS

Current corporate tax rate is 30% (incl. surcharge/cess 34%) brought down to 22% (incl. surcharge/cess 25.17%) i.e. around 9 basis point effective relief in tax for current corporations.

New manufacturing: 25% (incl. surcharge/cess 29.12%) brought to 15% (incl. surcharge/cess 17.01%) 12 basis point effective relief in tax for new manufacturers. This will certainly give a boost to new manufacturers to establish their manufacturing units in India and achieve the goal of “Make in India” a reality.

Q. What impact this decision would have on the corporate sector?

  • Promote “Make in India
  • Making India an Investment hub
  • Boost Indian economy
  • Employment generation
  • More Transparent structure
  • Wealth creation
  • Export led manufacturing
  • Multiplier affect
  • Long term transition period
  • Companies cash flows will improve

Q. How to get the complete benefit of this corporate tax restructuring?

If you have an existing company or you want to establish a new company, we provide “One Stop Solution” to all your problems.

To grab this opportunity and bring the benefits of this tax restructuring in your business, feel free to reach out. Get your Company Registration in a hassle free way with our financial expert in your area who will guide you in all your finance related matters.