Blogs for Financial Success - VFSL Financial Advisory Services in India

Gujarat and Puducherry to Pilot Biometric Aadhar Authentication for GST Registration

Gujarat and Puducherry have taken a pioneering initiative in advancing the tax system in India by implementing biometric Aadhar authentication for Goods and Services Tax (GST) registration. This innovative approach by the GST Network aims to enhance and streamline the registration process for taxpayers in these two regions. Here, we delve into the details of how this adoption of biometric technology is set to bring about positive changes for taxpayers in Gujarat and Puducherry.

IFSC GIFT City is making its mark as Global Financial Hub and becoming known as one of the business- friendly destination across the globe.

IFSC GIFT City stands out as a dynamic and versatile destination, offering Financial Institutions and Firms (FIFs) a comprehensive spectrum of investment opportunities across finance, technology, real estate, and infrastructure sectors, enabling strategic navigation and capitalization on emerging market trends globallyGIFT City's IFSC showcases significant growth, hosting 40 funds totalling USD 15 billion

GST Registration

Goods and Services Tax (GST) is applicable in India from 1st July 2017. Under the new GST regime, nearly 1.4 crore businesses in India have obtained GST registration. All entities having GST registration are required to file GST returns every month. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period. Hence, even a dormant business that obtained GST registration must file a GST return.

GST Advisory: Two-factor Authentication for Taxpayers

GSTN is introducing two-factor authentication (2FA) for taxpayers to strengthen the login security in GST portal. The pilot rollout has been done for a state of Haryana and working seamlessly. Currently, 2FA will be rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi in 1st phase. In 2nd phase, it is planned to be rolled out all states across India.

Revised Tax Collected at Source TCS

Starting October 1, 2023, revised Tax Collected at Source (TCS) rates will be enforced in India, impacting various financial transactions. TCS will apply when expenditures exceed a specific threshold during the fiscal year, covering a wide range of activities, including foreign trips, international remittances, and investments in foreign assets, mutual funds, crypto currencies, and educational expenses abroad. Under the Reserve Bank of India's Liberalized Remittance Scheme (LRS), individuals can send up to US$250,000 annually.

Understanding the provisions of Tax Deducted at Source

The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor.

India’s Booming Data Centre Sector

India's data centre sector is poised for growth, fuelled by a thriving digital economy, widespread internet access, and the shift to 5G networks. The government is prioritizing stable data centre infrastructure and has introduced incentives and a draft policy to encourage investments. However, emerging regulations mandating data localization may impact the demand in the data centre market.

Understanding FEMA Rules: A Guide for NRIs

The Foreign Exchange Management Act (FEMA) serves as a guiding light for Non-Resident Indians (NRIs) navigating India's financial landscape. Comprehending FEMA rules is not just a legal necessity but a critical element for ensuring seamless financial transactions and investments within the country. In this concise guide, we will explore the key FEMA rules that every NRI should understand to navigate the complex financial landscape effectively.

The Dynamic Evolution of the Space Sector: A Indian Perspective

Indian Space Research Organization (ISRO), has made significant strides in the global space arena. ISRO's missions have earned accolades and established India as a capable spacefaring nation. Chandrayaan and Mangalyaan, India's lunar and Martian missions, respectively, have garnered international recognition. These missions showcased India's prowess in space exploration and scientific research.

Chartered Accountants: The Financial Architects

In the intricate world of finance and business, Chartered Accountants (CAs) stand as the pillars of financial integrity, strategy, and compliance. These professionals play a pivotal role in shaping the economic landscape, whether by ensuring financial transparency for businesses or by providing strategic financial guidance. This blog explores the journey to becoming a CA, their multifaceted roles, impact on businesses, societal contributions, and the challenges they face.

Startup Advisory Services: Empowering Entrepreneurs for Success

VFSL offers specialized consulting services to early stage ventures and entrepreneurs. Also provide expert guidance, strategic advice, and practical support in navigating the challenges of building and growing a business. our services play a crucial role in supporting startups by filling knowledge gaps, reducing risks, and assisting with critical decisions.

Family Investment Fund (FIF) in GIFT City

The introduction of the tax-free Family Investment Fund (FIF) in GIFT City marks a significant development for wealthy Indian families seeking international investment opportunities while benefiting from tax advantages. The FIF allows these families to utilize GIFT City as a tax-free hub for initiating international investments.

Empowering Women Entrepreneurs: Government Initiatives for Women Empowerment

In recent years, there has been a growing recognition of the vital role women entrepreneurs play in driving economic growth and fostering innovation. Governments across the globe are taking proactive steps to strengthen and support women entrepreneurs through well-designed policies and initiatives.

Meeting the July 31 ITR Filing Deadline for AY 2023-24 in India: Implications for Businesses

Indian businesses must file and verify their Income Tax Returns (ITRs) in a timely manner by the 31st July deadline to transition to the proper tax regime and avoid penalties and forfeiting tax benefits.

Grow through Merger & Acquisition

As the company progresses and reaches a stage of sustainable growth – the desire to expand props up and now with globalization – world becomes the targeted market. All countries have their own sets of rules and regulations, strengths and peculiarities of the market – growth thus is possible only by merging of synergies…but this merging of synergies has to take place after thorough analysis.

MSME - The Growth Engine of Indian Economy

Micro Small and Medium Enterprises (MSMEs) have emerged as a vital force in India's economy, making significant contributions to employment generation, entrepreneurship promotion, and regional development. MSMEs have emerged as the backbone of India's economy-Accounting for around 30% of India's GDP, 48% of India's exports, and providing 120 million jobs across industries and regions in the country contributing towards wealth creation at the grass root level. And currently india has more than 6.3 cores MSMEs.

ESOP - Wealth Maximization or both Employees and Employer

Employee Stock Ownership Plans(ESOP) are a type of employee benefit program that allows workers to purchase a stake or ownership in the company they work for, either through direct purchase or by receiving shares as a bonus or incentive. ESOPs were established under the Employee Retirement Income Security Act (ERISA),1974 to provide a tax-efficient way for employees to own a portion of their company.

Plan your India Market Entry strategies with Visak

Visak is here to assist you in navigating the Indian market and provide comprehensive services for a successful market entry. In this guide, we will outline a step-by-step approach, supported by Visak, to help you penetrate the Indian market effectively. From market research to partnerships and networking, Visak offers a complete suite of services tailored to your business needs.

Understanding the impact of Regulations of Cross Border Transactions and Taxation

The immense technological advancement has been a blessing to the human sect. The world has now become borderless and the business these days are not restricted to the local boundaries - Businessmen these days have the potential to showcase their products and services to clients all across the globe.

How Virtual CFO Services can Help your Company in 2023

Managing cash flow: The CFO needs to closely monitor the company's cash flow to ensure that there is enough money to meet financial obligations and repay debt.

The CFO of a debt-ridden company faces a range of challenges

Managing cash flow: The CFO needs to closely monitor the company's cash flow to ensure that there is enough money to meet financial obligations and repay debt.

How to get the best out of Financial Expert Professionals

Clearly define your goals and objectives: Before meeting with a financial expert, it's essential to have a clear idea of what you want to achieve. Are you looking to save for retirement, invest in stocks, or pay off debt?

Adjusted EBIDTA Pros Cons

Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a financial metric that is often used to evaluate a company's financial performance.

Family Office

Family office can be very useful for fund planning. VFSL serves high net worth families and individuals through this service offerings.

Blog

Blog Posts