During the year and a half of TechJini’s existence, we have learnt several things about starting and running a company in Bangalore. I am putting together our experiences in this post so that it can be helpful to others.

Register the company

The World Bank has a very detailed and comprehensive list of things to be done when you want to start your company. It covers most of the statutory requirements of starting a company in Bangalore. Many of these services are available online, so it makes life simpler. For those that are not available online, it is advisable to go through a Chartered Accountant.

It is advisable to get your company registered before you commence operations. Else it can create problems when you receive payments and don’t yet have a bank account in the company’s name.

Open a bank account

We chose citibank as our company bankers after we spoke to several banks. They offered better personalized service, were easily accessible and had the necessary features we were looking for. Since current account have no interest, choose a bank that offers easy ways to park/withdraw your surplus funds into/from short term funds which are mostly risk free and earn a good interest rate of 6% p.a.

Accounting and statutory compliance

Since Tally is the most commonly used accounting software, I would recommend to buy a license and start using it from the beginning. This avoids any accounting nightmares when you try to create your balance sheets at the eleventh hour. If you are not from an accounting background, it is best to hire a part-time accountant who can visit your premises and update your accounts every week or every fortnight. You can find such a person by locating any Tally coaching institute in your locality. They charge anywhere between Rs 1500 to Rs 3000 based on the amount of work.

There are several statutory and back office requirements like payroll, filing PT returns, advance tax, TDS returns, ROC returns, VAT/CST returns etc that require knowledge, time and effort. I did this myself the first year, but found that it is better to hire a professional for these while I can focus on our core business. Thus we met few CAs and finally contracted one of them. For a monthly fee, they handle all things including accounting, payroll, TDS, ROC, IT , PT etc (except the audit). They charge upwards of Rs 10,000 per month based on the number of employees.

Liability of employee behaviour
Another aspect to remember is that the company should formulate and get every employee (including the founders) tosign a Term of Employment or Company Policy documents. These documents outline several things including (but not limited to)

This becomes even more critical for IT startups since cyber laws are still evolving and these documents go a long way in proving that the employer takes preventive measures to protect the law. You can contact any lawyer who specializes in Cyber Law and he can assist you with the drafting of a policy.

Premises and utilities

We chose an office that was close to both the founders’ residences. This greatly improves productivity since we do not waste time and energy commuting to the workplace. Since we are a startup, we chose an office that offered us the best value for the money. Also ensure that there are few eateries in vicinity. Make sure you verify other things like, water availability, parking space, capacity of electricity connection etc.

If you are an IT startup, get at least 2 internet connections. We have BSNL and Tata Indicom. We have had bad experience with both of them, but Airtel (which is the best in terms of uptime) is not available in our locality.

Resources

I am sharing the contacts/resources that may save you time. Feel free to let them know you heard about them from us.
Chartered Accountants

Lawyers

Please share any thing we missed via the comments.

tett

  • Devyash Patel

    January 2, 2015

    Just Visit www.myonlineca.in to start and register your startup company.

  • Devyash Patel

    January 2, 2015

    Just Visit www.MyOnlineCA.in and Register your Business.

  • Roop Designs

    November 4, 2014

    Hi Entrepreneurs We're a group of passionate designers to help start ups to shape out.... For more details have a look at our page https://www.facebook.com/roopdesigns Might be helpful to you..... for you Always :) Team Roop Designs.

  • Ramesh Kumarv

    November 4, 2014

    i am interested in starting business related to real estate but i have so many doubts please if you dont mind cal to dis no-7353625258 .

  • Hemen Parekh

    September 27, 2014

    WHY B2B ? Dear Executive This is same as asking : Why market ? Why advertise ? Answer ( to , " Why B2B ? " ) is simple There are dozens of web sites which will allow you to email your Marketing Message to your potential clients But , to only to ONE client at a time ! Whereas B2B enables you to > Compose in advance / save / store , any number of Marketing Messages > Then , with just a SINGLE CLICK , send those Messages to dozens ( or even hundreds ) of your clients , at ONE GO ! Do 8 days worth of emailing in 8 minutes ! And when it comes to targeting , you get to choose ( select ) from , * 2,27,000+ Indian Companies * arranged according to 52 Industry-Sectors * located in 2000+ cities OR * 8,000 + International Chambers of Commerce in 5332 cities of the World , in 190+ countries Your options are : > Passively wait for your potential customers to " discover " you OR > Get " pro-active / aggressive " and reach them thru B2B VIEW DEMO then REGISTER now , before your Competitors do ( which is only a matter of " When " , not of " Why " ! ) with regards , hemen parekh ( view my profile ) Mumbai , India www.B2BmessageBlaster.com www.3pConsultants.co.in hcp@RecruitGuru.com .

  • Ahamed Burhan

    May 12, 2014

    Hello All, I am an Auditor have my own audit firm, if any one of you need an auditor to help you in Tax matters and registration of company and report analysis please contact me by email. E Mail ID is aktharassociates@gmail.com.

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    January 9, 2014

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    great help! ty .

  • Accounting services Bangalore

    November 16, 2013

    Apt assist provides services related to accounting, registration, setting up of business..

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    November 9, 2013

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  • Nashua Jedidiah

    August 23, 2012

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  • Deep

    August 2, 2012

    Hi, I am in a process of opening my own firm and need some assistance in opening a bank account. Need some please. Requesting Seniors to please advise. Thanks, Deep..

  • sam

    July 11, 2012

    Hi, I have registered a company in bangalore and facing problem in opening a bank account. Can anyone help? thanks. Sam.

  • Deepthi P Thomas

    June 26, 2012

    You can contact www.CompaniesInn.com for getting your start up registered. They are a professional team with transparent pricing. They have offices across India. Their website is very useful for a business starup..

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    June 13, 2012

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  • mylib

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    HEllo sir, i want to open an IT company (startup small with 2- 3 employees).plz help me to know the procedure,how many days does it take to register a company,& how much does it cost for all the fees ?.

  • Ozin SEO Services

    March 25, 2012

    Hello, Thanks a lot this helped me lot to register my company. Thanks Powar.

  • Emmett Vue

    January 30, 2012

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    August 23, 2011

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  • Calton

    May 17, 2011

    thanks.

  • NAGARAJ

    January 30, 2011

    hi sir me looking for managment trinee post in ur co. i hope you will send me mail ......

  • NAGARAJ

    January 30, 2011

    hi sir me looking for managment trinee post i hope you will send me mail ......

  • Amit

    December 4, 2010

    Hello James, Sure you are welcome to use the information..

  • buy kinect

    October 22, 2010

    Hi, This is a message for the webmaster/admin here at www.techjini.com. Can I use some of the information from this blog post right above if I provide a backlink back to this site? Thanks, James.

  • annually

    January 30, 2010

    starting a company in india is not that hard , you need a pan number on the company , few small registeration and in bangalore its really a great it hub , real good for company trageting it related service. thanks.

  • Bangalore

    April 28, 2009

    I found this blog through Google mate. I kind of liked the theme alot. Are you a member of digitalpont by any chance ??.

  • Shyamal

    November 19, 2007

    The detailed costs are listed on this page: http://www.doingbusiness.org/ExploreTopics/StartingBusiness/India-Bangalore.htm.

  • dreamzhunterz

    November 17, 2007

    Can you give the Cost of each step which will help us to plan our savings.

  • Swapnil

    August 12, 2007

    Really a very good article; Somehow you have made very tough things translate into to look such plain and simple; I think i can say for sure, your writting creativity is improving day by day;.

  • Shyamal

    August 4, 2007

    @kingjawedatyahoodotcom Glad you liked the article. TechJini is a software company that provides software product engineering services. Please visit http://www.techjini.com for more information and contact information..

  • kingjawedatyahoodotcom

    August 4, 2007

    hi, I liked this article very muchch. it is very honest and practical. though I don't have any entrepreneurial experience, I know a person, who went throughg a very silimar experience. what is your email id? and what is techjini?.

  1. kingjawedatyahoodotcom

    August 4, 2007

    hi,
    I liked this article very muchch. it is very honest and practical. though I don’t have any entrepreneurial experience, I know a person, who went throughg a very silimar experience. what is your email id? and what is techjini?

  2. Shyamal

    August 4, 2007

    @kingjawedatyahoodotcom
    Glad you liked the article.
    TechJini is a software company that provides software product engineering services. Please visit http://www.techjini.com for more information and contact information.

  3. Swapnil

    August 12, 2007

    Really a very good article; Somehow you have made very tough things translate into to look such plain and simple;

    I think i can say for sure, your writting creativity is improving day by day;

  4. dreamzhunterz

    November 17, 2007

    Can you give the Cost of each step which will help us to plan our savings

  5. Shyamal

    November 19, 2007

    The detailed costs are listed on this page:
    http://www.doingbusiness.org/ExploreTopics/StartingBusiness/India-Bangalore.htm

  6. Bangalore

    April 28, 2009

    I found this blog through Google mate. I kind of liked the theme alot.
    Are you a member of digitalpont by any chance ??

  7. annually

    January 30, 2010

    starting a company in india is not that hard , you need a pan number on the company , few small registeration and in bangalore its really a great it hub , real good for company trageting it related service.

    thanks

  8. buy kinect

    October 22, 2010

    Hi,

    This is a message for the webmaster/admin here at http://www.techjini.com.

    Can I use some of the information from this blog post right above if I provide a backlink back to this site?

    Thanks,
    James

    • Amit

      December 4, 2010

      Hello James, Sure you are welcome to use the information.

  9. NAGARAJ

    January 30, 2011

    hi sir me looking for managment trinee post i hope you will send me mail …..

  10. NAGARAJ

    January 30, 2011

    hi sir me looking for managment trinee post in ur co. i hope you will send me mail …..

  11. Calton

    May 17, 2011

    thanks

  12. Sid Lamphere

    August 23, 2011

    If you have some malicious program like RegCure or some other rogue registry cleaner, uninstall it from your programs. Then update SUPERAntiSpyware and Malwarebytes and run full scans with both, one right after the other. Don’t run any two of those at the same time. Updating those programs is crucial.

  13. prajwal

    October 8, 2011

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  15. Emmett Vue

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    Thanks for the new stuff you have unveiled in your short article. One thing I would really like to comment on is that FSBO interactions are built over time. By launching yourself to the owners the first few days their FSBO is definitely announced, prior to the masses start off calling on Thursday, you generate a good network. By sending them resources, educational products, free accounts, and forms, you become a good ally. By using a personal curiosity about them plus their situation, you produce a solid connection that, on many occasions, pays off if the owners decide to go with a realtor they know in addition to trust – preferably you actually.

  16. Ozin SEO Services

    March 25, 2012

    Hello,

    Thanks a lot this helped me lot to register my company.

    Thanks
    Powar

  17. mylib

    April 26, 2012

    HEllo sir, i want to open an IT company (startup small with 2- 3 employees).plz help me to know the procedure,how many days does it take to register a company,& how much does it cost for all the fees ?

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  21. Deepthi P Thomas

    June 26, 2012

    You can contact http://www.CompaniesInn.com for getting your start up registered. They are a professional team with transparent pricing.

    They have offices across India. Their website is very useful for a business starup.

  22. sam

    July 11, 2012

    Hi,

    I have registered a company in bangalore and facing problem in opening a bank account. Can anyone help?

    thanks.
    Sam

  23. Deep

    August 2, 2012

    Hi, I am in a process of opening my own firm and need some assistance in opening a bank account. Need some please.
    Requesting Seniors to please advise. Thanks, Deep.

  24. Nashua Jedidiah

    August 23, 2012

    Even though this is an older page, Found your website while searching Bing. This was a cool article. I hope to see you remove the primary point of this article and create a second article, and maybe you could embed a movie, too? If you do, it will be very much appreciated.

  25. Sandeep

    August 30, 2012

    Hi All ,

    If anyone is interested in opening a current account please get in touch with me. This is for a MNC Bank and my role is of a Relationship Manager.

    Regards
    Name : Sandeep Khurana
    Number: 9886251642

  26. smart phone

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    September 16, 2013

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  32. Best accounting services Bangalore

    October 25, 2013

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  35. Accounting services Bangalore

    November 16, 2013

    Apt assist provides services related to accounting, registration, setting up of business.

  36. Devraj Bhadra

    December 1, 2013

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  38. Contract labor registrtaion bangalore

    December 5, 2013

    We need to have a contract registration certificate when you have hired based on contract in any industry or company. We at Apt assist do all labor registrations, Labor license registration and Contract Labor Registration in Mahadevapura, Thippasandra, Begur, Mathikere, and Chikkajala Bangalore.

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    January 9, 2014

    handle complete accounting ,auditing and statutory needs
    call :0091-9886136587
    accounts4all@outlook.com

  41. Ahamed Burhan

    May 12, 2014

    Hello All,

    I am an Auditor have my own audit firm, if any one of you need an auditor to help you in Tax matters and registration of company and report analysis please contact me by email. E Mail ID is aktharassociates@gmail.com

  42. Hemen Parekh

    September 27, 2014

    WHY B2B ?

    Dear Executive

    This is same as asking :

    Why market ? Why advertise ?

    Answer ( to , " Why B2B ? " ) is simple

    There are dozens of web sites which will allow you to email your Marketing Message to your potential clients

    But , to only to ONE client at a time !

    Whereas B2B enables you to

    > Compose in advance / save / store , any number of Marketing
    Messages

    > Then , with just a SINGLE CLICK , send those Messages to
    dozens ( or even hundreds ) of your clients , at ONE GO !
    Do 8 days worth of emailing in 8 minutes !

    And when it comes to targeting , you get to choose ( select ) from ,

    * 2,27,000+ Indian Companies
    * arranged according to 52 Industry-Sectors
    * located in 2000+ cities

    OR

    * 8,000 + International Chambers of Commerce in 5332 cities
    of the World , in 190+ countries

    Your options are :

    > Passively wait for your potential customers to " discover " you

    OR

    > Get " pro-active / aggressive " and reach them thru B2B

    VIEW DEMO

    then REGISTER now , before your Competitors do ( which is only a matter of " When " , not of " Why " ! )

    with regards ,
    hemen parekh
    ( view my profile )
    Mumbai , India

    http://www.B2BmessageBlaster.com
    http://www.3pConsultants.co.in
    hcp@RecruitGuru.com

  43. Ramesh Kumarv

    November 4, 2014

    i am interested in starting business related to real estate but i have so many doubts please if you dont mind cal to dis no-7353625258

  44. Roop Designs

    November 4, 2014

    Hi Entrepreneurs
    We're a group of passionate designers to help start ups to shape out….
    For more details have a look at our page
    https://www.facebook.com/roopdesigns
    Might be helpful to you…..

    for you Always :)
    Team Roop Designs

  45. Devyash Patel

    January 2, 2015

    Just Visit http://www.MyOnlineCA.in and Register your Business

  46. Devyash Patel

    January 2, 2015

    Just Visit http://www.myonlineca.in to start and register your startup company

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