What is slump sale? | Trademark Registration in India

A single entity could have separate segments or undertakings with its own set of assets and liabilities each focused on a different business. Therefore, when the need arises, the entity can sell off a segment or the undertaking. This is called a slump sale.

 

CONTENTS

1. Slump Sale under Income Tax
2. Tax Effect in a Slump Sale
3. Slump sale vs. Itemised sale
4. Case study
5. Other matters
6. Slump Sale under Income Tax

​A slump sale for income tax purposes would be one where an undertaking is sold without considering the individual values of the assets or liabilities contained within the undertaking.

It may be important to note here that finding out individual values may be of relevance only for the purpose of determining stamp duty or any other similar taxes. 

(Applicable in case of Land & Building transferred along with the respective undertaking)

 Tax Effect in a Slump Sale

The gain or loss resulting out of a slump sale shall be a Capital Gain/Loss under the Income Tax Act.

 (In the hands of the seller)

The computation has been prescribed as follows:

the capital gain or loss as computed above will be either long-term or short-term depending upon the period for which the undertaking is held.

If the undertaking is held for more than 36 months, the resulting capital gain or loss shall be long-term and if it is held for less than 36 months, the resulting capital gain or loss shall be short-term.

Further, there will be no indexation benefit available in the computation of the capital gains.

Net worth: In computing the net worth of the entity, the following points need to be considered:

The value of net worth should not take into account any change in the value of the asset or liability resulting from the revaluation of such asset or liability.

In case of depreciable assets under the Income Tax Act, the Written Down Value of such assets as per the Act shall be considered.

In the case of assets on which 100% deduction has been allowed u/s 35AD (specified business), the value of such assets will not be considered.

More info :  Trademark Registration in India

Trademark Registration in India

A business contract is a legal agreement between a buyer and seller of goods or services. Business contracts can be used by anyone making any kind of business exchange – from large companies to individuals. Business contracts should include all details about the exchange, including payment, the type of goods or services, and the responsibilities of each party. A business contract will protect both the buyer and seller in the event the other party does not hold up their end of the agreement.

A Business agreement is a kind of agreement in which each party agrees to an exchange typically involving money, goods, and services. It protects both buyer and seller by reducing agreements to writings. The contract can be as long or as short as possible and necessary in order to cover the important details of the contract.

 A business agreement requires the following:

• Offer
• Acceptance
• Consideration
• Meeting of the minds

​​The outturn of not having a signed agreement:

When you have a business contract reduced to writing, you have a clear road map detailing what you and the other party to the contract agreed to. Because contracts are legally binding, if the other party fails to meet their obligations, you have the right to legal recourse.

The absence of written service agreements and sales agreements has led to many disagreements. This can lead to lost business and ill will. In some cases, if the contract is not in writing, it is not enforceable – even if there is no dispute over the terms.

Lawyers often say oral contracts are not worth the paper they are written on. This is because proving the terms of the agreement, absent a written document, is nearly impossible.

Also, once a business agreement is signed, we cannot get out of it. Hence, we can conclude that while entering any contract/ or business deal, there must always be a clear picture of the contract and its terms and conditions.

More info :  Trademark Registration in India

How To Register Trademark In India Online

Registering a trademark is a crucial step in protecting your brand identity and intellectual property. In India, the process has become more accessible through online registration. This guide will walk you through the steps required to register a trademark in India, right from the comfort of your home or office.

Step 1: Determine Trademark Eligibility
Before you begin the registration process, you need to ensure that your proposed trademark is eligible. It should be distinctive and not identical or similar to existing trademarks. It shouldn't violate any Indian laws or offend any religious or cultural sentiments.

Step 2: Conduct a Trademark Search
To avoid potential conflicts and rejections, it's essential to conduct a thorough trademark search. The Indian government's online portal provides a database for searching existing trademarks. This will help you ensure that your trademark is unique and not already in use.

Step 3: Create an Account on the IP India Website
To start the online trademark registration process, you'll need to create an account on the Intellectual Property India website (http://www.ipindia.nic.in/). If you already have an account, you can simply log in.

Step 4: Fill Out the Trademark Application
Once you're logged in, you can fill out the application form. This form requires details about your trademark, its class, and your personal or business information. Be as accurate and detailed as possible when completing the form.

Step 5: Pay the Application Fee
After submitting the application form, you'll need to pay the requisite fee. The fee amount depends on the type of applicant (individual, startup, or company), the number of classes, and whether you're claiming priority under the Paris Convention.

Step 6: Application Review
After submission, the trademark office will review your application. They may ask for clarifications or additional documents. It's essential to monitor your application status regularly on the IP India website.

Step 7: Trademark Journal Publication
Once published, there's a 3-month window for objections. If no objections are raised, your trademark will proceed to registration.

Step 8: Trademark Registration
If there are no objections, your trademark will be registered, and a certificate of registration will be issued. You are now the legal owner of the registered trademark.

Step 9: Protect and Maintain Your Trademark
After registering your trademark, it's crucial to protect and maintain it. Trademarks in India are registered for ten years initially and can be renewed indefinitely. Be vigilant against infringement and misuse.

Registering a trademark in India online is a streamlined process, but it does require attention to detail and adherence to the legal requirements. By following the steps mentioned in this guide, you can protect your brand's identity and gain the legal rights to your trademark. Remember to consult with a legal professional or trademark agent if you have any doubts or questions during the registration process.

More info Click Here :  How To Register Trademark In India Online

Corporate Restructuring

What Is Restructuring?

Restructuring is the corporate management term used for the act of reorganizing ownership, operational, legal, or other structures of a company for the need of making it more profitable and better developed, and organized.

What is corporate restructuring?

Corporate restructuring plays a vital role in the life of businesses and companies. Companies will pursue corporate restructuring strategies in response to their falling profits, changes in ownership, general market, changes in corporate strategy.

Corporate Restructuring is the process of reorganizing the structure of the organization to fetch more profits from its operations or is best suited to the present situation.

It is the most complex and fundamental phenomenon that management confronts.

Enhance the company’s performance ad profit: 

To eliminate the entire financial crisis and enhance the company’s performance this process of corporate restructuring is considered very important. Financial and legal experts are hired by the management of concerned corporate entities facing the financial crunches for advisory and assistance in the negotiation and the transaction deals. 

The concerned entity may look at operations reduction, debt financing, and any portion of the company. Change in the ownership structure of the company is due to the adverse economic conditions, takeover, merger, adverse changes in business such as buyouts, bankruptcy, over-employed personnel, lack of integration between the divisions, etc.

More info :  Corporate Restructuring

Brand Registration Online

With incremental adoption of globalization and rapid growth in several multi-national companies trying to establish their operation facilities, production houses in India, taxation in India is being aligned with global tax practices.

Therefore, it is incredibly important for every business entity to develop a thorough understanding of the transfer pricing regulations applicable on an Indian registered business entity, to plan the way for a business as well as its tax structure.

What is Transfer Pricing?

Transfer pricing generally refers to the price(s) of transactions controlled and practiced between associated enterprises. Such pricing decisions may be taken under conditions differing from independent enterprises.

Transfer pricing is the value attached to transfers of goods, services, and technology between related entities located in different territories. It also refers to the value attached to transfers between unrelated parties which are controlled by a common entity.

In other words, Profits accruing to the parent company can be increased by setting high transfer prices to siphon off profits from subsidiaries registered and operating in high tax countries and low transfer prices to divert profits to subsidiaries located in low-tax jurisdictions.

 More info : Brand Registration Online

Startup India Registration Online

 In GST Regime, businesses whose ANNUAL Turnover exceeds

INR 40 Lakhs, for the supply of goods, and (Rs 20 lakhs for Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Tripura, Uttarakhand) INR 20 lakhs, for the supply of services, are mandatorily required to be registered as a normal taxable person.

Goods and Services Tax (GST) was introduced by the Government of India in 2017 to facilitate their mission of One nation, one tax, one market; The introduction of GST has led to the absorption of several Central and State taxes into one tax structure which offers complete and comprehensive set-off of input goods and services, as a result, reducing the cost of locally manufactured goods and services.

 In GST Regime, businesses whose ANNUAL Turnover exceeds
INR 40 Lakhs, for the supply of goods, and     (Rs 20 lakhs for Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Tripura, Uttarakhand) INR 20 lakhs, for the supply of services, are mandatorily required to be registered as a normal taxable person.

Who else is required to get GST registration done, even if Turnover based threshold limits have not been crossed?

1.  Agents of a supplier & Input service distributor
2.  Those paying tax under the reverse charge mechanism
3.  A person who supplies via e-commerce aggregator
4.  Every e-commerce aggregator
5.  Any person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

How can SSI help, if you want to register yourself under the GST mechanism?

SSI uses a comprehensive approach to first help its clients in understanding the GST mechanism by:

1. Discussing applicability of GST on their respective business
2. Elaborating prescribed limit(s) for the statutory exemption
3. Identifying the rate of GST applicable to the products and services being sold
4. Listing out the intervals, mode, and manner for payment of GST and several other compliances that become applicable post-registration.

Get More Info :  Startup India Registration Online

Company Registration in India

If you are planning to start business in India, the first &the foremost step is to establish the legal presence of your business in India by registering it in accordance to the applicable provisions of Companies Act, 2013.

 

Thinking why to choose Company Registration in India? Company Registration in India will boost the progress of your business and provide an additional edge over those who have not registered.

 

• Shields from personal liability and protects from alternative risks and losses.
• Attracts more customers
• Procures bank credits and good investment from reliable investors with ease.
• Offers liability protection to protect your company’s assets
• Greater capital contribution and greater stability, increases the potential to grow big and expand
• You will also get Zero Balance Current Account

 

Why Setup Services India to help you in Registering your Company in India?

 

The Company Registration process is completely online, so you don’t even have to leave your home to get your entity registered. Our highly qualified professionals ensure that not even a single client at SSI is ever bothered to participate in a cumbersome procedure(s) while doing their business; we take this as our responsibility to solve the complex trails of statutory compliances for you to save your time and effort in doing your business. Want to know more OR have any doubt?? Request a Call Back!

Read More About:  PAN India LLP Registration Service   Business setup services India   Online GST registration Services in India 

How to incorporate a private limited company in India

 

A private limited company is the most popular form of organization in India. Start-ups prefer this because it helps in getting seed funding and issue ESOPS. As they are legal entities, they need registration and are subject to a few rules for annual filing and for the payment of taxes. There are certain registration steps to incorporate a Private Limited Company, it varies from country to country on how one needs to register.

 

Registering a business may seem like an intimidating process, but it's not that complicated. 

 

Every business must register itself as part of mandatory legal compliance. First, you need to choose a business structure while applying. You will also need to check for the name availability of your company. One also needs to have documents like Proof of Identification, Proof of address, Rental agreement, etc... 

 

Now-a -days, registering a company in our country is a simple 4-step process. At the beginning of the process, you need the DSC (Digital Signature Certificate). As most things are online now, digital signatures are required to fill out forms in the MCA portal. The DSC is mandatory for all proposed directors, memorandums, and signatories. The second step is the Director Identification Number (DIN), which is to be obtained by anybody who wants to be a director, after this the name and the address proof are to be provided in the company registration form. Then, comes the registration on the MCA Portal; for this, the SPICe + form is to be filled and the documents are to be submitted. After registering, the director can log in to access the MCA portal service. This includes submitting electronic forms and viewing published documents. 

 

Lastly, it’s the Certificate of Incorporation, once the registration is done and the documents are submitted, then the application will be reviewed and after that, the certificate is issued. These are some easy steps of registering for a company. Once, all the steps are completed there are some conformances to be followed. There are a lot of benefits of having a private limited company. So that’s how one can incorporate a Private Limited Company in India by only following a few steps and rules. 

Want to know more OR have any doubt?? Request a Call Back!

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Business Management sevices | Accounting & Bookkeeping

 About This Plan

SSI provides a year-round comprehensive bookkeeping solution to suit all your accounting needs. Proper accounting helps in establishing an effective financial ecosystem and helps you manage your budgets, fund flows, payables, receivables efficiently and effectively.

 

Regular maintenance of books of accounts is a statutory requirement for all business entities. Further, it is mandatory for firms undergoing statutory or internal audits as per the regulatory norms of several governmental bodies.

 

Because most startups, initially do not need a full-time dedicated accountant as the volume of transactions is low and at times it is not even economically feasible to hire one, SSI has specially curated this service package to fulfill all your accounting needs.

 

How can you benefit by outsourcing bookkeeping/ accounting services to SSI?

 

In today’s time with excellent access to online traceable communications, outsourcing core information-related business activities like accounting/ bookkeeping are considered and categorized as Knowledge process outsourcing wherein qualified professionals undertake assignments that require advanced analytical and technical skills as well as a high degree of specialist expertise.

 

We, at SSI, put in place rigorous internal control and quality assurance systems, wherein your industrial activities are studied in detail, and services such as accounting, and bookkeeping are carried on keeping in mind relevant:

 

1. Accounting standards (IND-AS)
2. Guidance notes issued by ICAI, and
3. IFRS, wherever applicable.

Get Know More Info : Business setup services India

Contact Us 

Website : https://www.setupservicesindia.com/

Experts’ reaction to RBI Monetary Policy Committee Announcements

Venkatraman Venkateswaran, Group President & CFO, Federal Bank Ltd

The very clear message from RBI comes as a continuation to the commencement of normalisation about a month back. The 10-year bond yields have moved from 6% to 6.20% in the last two months. The extension of the liquidity facility won’t make much of a difference in the present situation, given the fact that banks still have not fully utilised the existing limits. Liquidity thus is not a matter of concern at this point. Credit off-take is still tepid. Accommodating & supporting growth is crucial and so has RBI prioritised growth over inflation. Gradual & steady calibrated liquidity withdrawals would continue.

Vikash Khandelwal, CEO, Eqaro Guarantees

The RBI has been doing the heavy lifting to bring back the economy on track since the pandemic struck last year. It has announced more than 100 measures to support growth. The move to extend TLTRO till December will further aid growth. Over the high-frequency indicators, normal monsoon, and steady pace of vaccination indicates the RBI estimate of 9.5% growth for FY22 is achievable. The decision by the RBI to keep key rates and the unchanged ‘Accomodative’ policy stance was on expected lines. Easy liquidity will help businesses, especially the MSMEs at a time when demand is recovering. The governor has allayed concerns on inflation as well.’’

Manoj Gaur, CMD, Gaurs Group, and Vice President – North, CREDAI National

“The unchanged repo rate decision by the RBI is on the expected lines; the Apex bank maintained the accommodative stance that is the need of the hour. However, the real estate sector has been expecting sector-specific measures that could trigger healthy growth. Although the government has taken some steps to help the sector in recent months, additional reforms are required to allow the sector to thrive. The upcoming festival season will likely bring in more demand, and we are hopeful that the low home loan interest rate will make the buyers go for real estate assets”.

Vikas Wadhawan, Group CFO, Housing.com, Makaan.com and Proptiger.com

On widely expected lines, the RBI on August 6 decided to maintain a status quo on key policy rates. The decision of the RBI MPC augurs well for the real estate industry in general and home buyers in particular since the record low-interest rate regime would enable a large number of buyers to invest in property. Since homebuyer sentiment has already improved in recent times, based on an increase in housing affordability in India, the RBI move will prompt buyers and investors to put their money in secured assets like real estate. The extraordinary liquidity support the RBI has provided to the economy in the aftermath of the coronavirus pandemic is highly commendable.

Pradeep Aggarwal, Founder & Chairman, Signature Global Group, Chairman, ASSOCHAM, National Council on Real Estate, Housing and Urban Development

We appreciate the apex bank’s continued accommodative stance. Real estate has made a strong demand for low house loan interest rates, and the RBI has helped the sector by maintaining the status quo. We recommend that customers take advantage of the current scenario because, in the future, prices may rise due to higher raw material costs. Know more...

Challenges On The Path To Taking A Company Towards IPO

 

• When planning to take your company public, it is critical to map investor sentiments for the brand/ company and create the right pitch that is attractive and valuable for all proposed stakeholders

• The many laws that regulate the running of public corporations account for the significant variation in how public and private companies are handled.

• When the company decides to go for IPO, it must build the right team to go public; selection of competent lead managers and merchant bankers for its issue is a must.

Entrepreneurs who dream of taking their firms public might anticipate declaring their IPO by striking the stock exchange bell and celebrate an elaborate closing meal. 

However, these heady pre-IPO fantasies may swiftly run into several substantial real-world problems that public company executives encounter regularly. There are significant challenges that public firms regularly face that private company owners should carefully consider before deciding to go public.

Indeed, it is a crowning glory, but a lot of planned hard work has to be put in to win the crown. When planning to take your company public, it is critical to map investor sentiments for the brand/ company and create the right pitch that is attractive and valuable for all proposed stakeholders. Then comes conducting due diligence and drafting of a proper road map on handling all the incremental compliance requirements that come post the IPO. It should be recalled that there will be new responsibilities and restrictions that may come for the management post IPO, and these need a proper assessment before taking the dip.

Extensive Regulations

The many laws that regulate the running of public corporations account for the significant variation in how public and private companies are handled. The company will be required to follow extensive internal compliance procedures, file financial reports, accept financial performance audits by independent third parties and comply with operating rules that did not exist when the company was a private, closely owned enterprise.

More Info :  Virtual CFO Services India

SSI Enters Financial Aggregation Market

 

When businesses are facing harrowing times due to ill-managed resources or ideas, the need to have specialized personnel to help the ideation sail through has increased multifold.

At this juncture, Setup Services India (SSI) announced its entry into the Financial Aggregation market.

The company aims to develop a one-stop financial services solution for the next-gen entrepreneurs; SSI aims to facilitate business registration, compliance(s) management and advisory processes to be robust, transparent and cost-effective.

Headquartered in New Delhi, SSI has a profound professional network and in-house team of CA/CS to ensure the efficiency and effectiveness of the services being delivered. The company says that the goal is to become an extensive KPO in the B2B arena and provide various solutions to the new India.

“SSI will be following aggregation model to serve its clientele from all over India. We aim to facilitate the ease of doing business in India by promoting the culture of outsourcing technical activities like accounting and bookkeeping, which will in turn help entrepreneurs to increase their focus on core business activities rather than on compliances,” said Nishant Arora, Founder, Setup Services India (SSI).

Explaining the Financial Aggregation model and its lack of popularity in India, Arora said, “A financial data aggregation service connects banks and individuals’ banking information, bringing it all together in one place, such as a mobile banking app that automatically sets and tracks budgets. They compile information from clients’ bank accounts, such as spending habits, investments, and credit histories, from a variety of banks to develop a personal financial wealth management tool for them.”

The company has extensive plans to expand in India. “We plan to explore and launch Industrial, commercial real estate advisory in phase 2 implementation to provide an extensive one-stop solution to its foreign clients who are willing to set up their business in India. Also, such products may or may not come under the umbrella of SSI but will surely be coming under Sixth Element Finserv P Ltd., the holding company of SSI. Sixth Element Finserv Pvt. Ltd. will be expanding in investment advisory domain extensively and may initially come as an investment advisory company and then launch a full-fledged portfolio Management Service in its own brand,” said Arora.

More Info :  SSI Enters Financial Aggregation Market

What is slump sale?

A single entity could have separate segments or undertakings with its own set of assets and liabilities each focused on a different business. Therefore, when the need arises, the entity can sell off a segment or the undertaking. This is called a slump sale.

CONTENTS

Slump Sale under Income Tax

Tax Effect in a Slump Sale

Slump sale vs. Itemised sale

Case study

Other matters

Slump Sale under Income Tax

A slump sale for income tax purposes would be one where an undertaking is sold without considering the individual values of the assets or liabilities contained within the undertaking.

It may be important to note here that finding out individual values may be of relevance only for the purpose of determining stamp duty or any other similar taxes. 

(Applicable in case of Land & Building transferred along with the respective undertaking)

Tax Effect in a Slump Sale

The gain or loss resulting out of a slump sale shall be a Capital Gain/Loss under the Income Tax Act.

(In the hands of the seller)

The computation has been prescribed as follows:

The capital gain or loss as computed above will be either long-term or short-term depending upon the period for which the undertaking is held.

If the undertaking is held for more than 36 months, the resulting capital gain or loss shall be long-term and if it is held for less than 36 months, the resulting capital gain or loss shall be short-term.

Further, there will be no indexation benefit available in the computation of the capital gains.

Net worth: In computing the net worth of the entity, the following points need to be considered:

The value of net worth should not take into account any change in the value of the asset or liability resulting from the revaluation of such asset or liability.

In case of depreciable assets under the Income Tax Act, the Written Down Value of such assets as per the Act shall be considered.

In the case of assets on which 100% deduction has been allowed u/s 35AD (specified business), the value of such assets will not be considered.

In the case of any other asset, value as appearing in the books of accounts shall be considered.

After considering the above points, if the resulting net worth is negative, then the cost of acquisition shall be taken as nil for the purpose of computation of capital gains.

Tax rates: The rates of tax applicable to the capital gain in a slump sale are as follows:

Short Term Capital Gain: Normal Rates of taxation

Long Term Capital Gain: 20%

Reporting Formality: The Company has to furnish a report by a Chartered Accountant as per Form 3CEA.

Taxation under GST: The basis of taxation under the Goods and Services Tax Act revolves around ‘supply’. A slump sale would also be a supply and hence fall under the purview of GST. The supply would be in the nature of ‘transfer as a going concern’ and such a transfer attracts a nil rate of GST.

Transfer as a going concern would roughly mean that the current business as a whole will be carried on by a different person or that there is a change in the ownership of the business.

Get detail info: Online TDS Return Filing India

Also Visit: Online Startup Registration Services

Expectations from Union Budget 2022 | Business setup services India

Amidst the current Omicron wave across the world, leading world economies, including India, are on the path of recovery from the damage the COVID-19 pandemic has done. With the predicted growth of real GDP estimated at 8.3 per cent, as forecasted by the World Bank, the Indian economy is at the center of the limelight in world economics.

In this article on expectations from the Union Budget 2022, we have highlighted industry-wise expectations for reforms, subsidies, and support mechanisms from the Government of India.

 

Hospitality Sector

 

The hospitality sector is amongst the sectors that have been most disrupted from the COVID-19 pandemic and pursuant lockdown and travel restrictions that were imposed across the country.

 

This sector has been significantly suffered a crunch on liquidity and hence we expect the following reforms, support and benefits to accrue from the union budget 2022:

 

1. Reduction in tax rates on both corporate and normal assesses.
2. Fund for extending liquidity to the sector in form of collateral-free top-up of working capital limits
3. Increased or priority access to MSME reforms for the stressed entities.
4. Introduction of schemes for the promotion of travel and tourism by the government.

​

Textile Sector

 

The textile sector has relatively been relaxed post the deferred increase of GST rates. However, the entities are stressed due to rapid increase in the cost of inputs such as:

 

• Cotton

​
Problem:

Cotton prices have swiftly gone high due to the high level of exports.

​

Solution:

 

1. The textile industry is looking for relief in form of export duties so that more quantity can be made available for domestic and captive consumption and prices can be kept at valuation.​
2. The industry is also expecting the Government to remove or reduce the import duty of 5% levied on the import of raw cotton.

 

• Logistics Cost

​

Problem:

Pursuant to the double-digit increase in the cost of fuel. The increase in logistics cost has squeezed the markup margins of manufacturers as well as traders.

 

Solution:

 

1. The Industry wants the Government to either reduce the fuel prices, or

2. Increase the Duty Drawback incentives available for exporters.

 

Services Sector

 

The services sector has been an integral promoter of the increase in Gross Value Added to the Net Income. Wherein growth in basic gross value added by financial services, etc. alone is at 4 per cent as per the First Advance Estimate of National Income for 2021-22.

Read More About Click Here : Online GST registration Services in India

Websites : https://www.setupservicesindia.com/

Contact Us : 

 

FinTech's to play a role in greater financial inclusion

Digital banking is a huge play in India, according to KPMG's Pulse of Fintech, which also points out that it has a unique model compared to other jurisdictions, with digital banks serving primarily as Software as a Service (SaaS) providers and regulatory responsibilities remaining with bank partners. The fintech business received USD 2 billion in investments in the first half of 2021, which is equivalent to the total amount invested in the entire year of 2020.

 

Commenting on the scope of fintechs, Nishant Arora, founder, Sixth Element Finserv's Setup Services India (SSI), says, "After working in the financial advisory/consultancy industry for more than seven years, I found out that there is no brand in the financial advisory industry that guaranteed quality services to the general public. The Fintech companies have to realize that not every startup can or want to hire a huge accounting firm because they are not only expensive to hire, but also lack the flexibility that a startup may wish to. As a result, SSI was founded as a pure management consulting firm with advisors, facilitators, and problem solvers to help SMEs, young entrepreneurs, salaried employees/professionals, foreign investors, and business owners overcome their challenges." 

 

According to Nishant, "The goal of the Fintechs should be to assist startups by making it easier to do business in India. At SSI, our goal is to become an extensive KPO in the B2B arena and provide various solutions to the new India. We use advanced data metrics and new methods to handle finances professionally."

 

Nishant began working in finance even before graduating with a bachelor's degree in commerce from the University of Delhi in 2016. He started his career as an Articled Trainee in an accounting firm in 2013 and later continued as a Senior Associate, until 2017. He worked on Statutory Audits, financial structures, and taxes of leading companies in the housing and real estate, consumer goods manufacturing, engineering, heavy equipment manufacture, textile, automobile, hospitality, entertainment, banking industries and PSUs throughout his time with the accounting company.

Read More About Click Here : Online company registration in india

Websites : https://www.setupservicesindia.com/

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Sixth Element Finserv’s Setup Services India to strengthen financial services market in Pune

Sixth Element Finserv’s Setup Services India (SSI) aims to develop a one-stop financial services solution for the next-gen entrepreneurs; it aims to facilitate business registration, compliance(s) management and advisory processes to be robust, transparent and cost-effective.   

Headquartered in New Delhi, SSI has a profound professional network and in-house team of CAs, CSs, MBAs to ensure the efficiency and effectiveness of the services being delivered. The company says that the goal is to become an extensive KPO in the B2B arena and provide solutions to the new India. Talking about Pune’s scope of giving India new startups, Nishant Arora, founder, Setup Services India (SSI), said, “Pune is among the cities with largest youth population; the rapid urbanization has led to an influx of youths in the city, and 73 per cent of its total population is below 50 years of age. Therefore, we can easily say that Pune has an edge in the probability to give India the next-gen startups and making unicorns.

 

Pune has consistently ranked among the top-5 cities in software & IT startups. The 2000s saw many new startups in the software services and products space. The company says that it wants to strengthen the startup network in India by easing out the business processes.

 

Explaining the company’s role in the startup ecosystem in the city, Arora, said, “We provide end-to-end financial services to the startups looking for a head start in the Indian startup ecosystem. From incorporation to regulatory registrations like GST, MSME, IEC, we do it all. Post incorporation, we extend a plethora of services that can take care of compliances management, internal MIS development, project report preparation, agreements drafting and startup pitch deck preparation too.”

Read More About Click Here : Online GST registration Services in India

Websites : https://www.setupservicesindia.com/sixth-element-finservs-setup-services-india-to-strengthen-financial-services-market-in-pune

 

Fintech Firms Connecting with Consumers in a Unique Way

 

Nishant Arora began working in finance even before graduating with a bachelor’s degree in commerce from the University of Delhi in 2016. He started his career as an Articled Trainee in an accounting firm in 2013 and was later promoted to Senior Associate, where he remained until 2017. He worked on Statutory Audits of leading companies in the housing and real estate, consumer goods manufacturing, engineering, heavy equipment manufacture, textile, automobile, hotel, entertainment, and banking industries throughout his time with the accounting company.

India’s fintech market is the fastest growing in the world, with 67 per cent of the more than 2,100 fintech firms in existence having been established in the last five years. The fintech market in India is already worth US$31 billion and is expected to grow to US$84 billion by 2025. The rise might be ascribed to these fintech organisations’ digital adoption to make life easier for their customers.

Nishant Arora began working in finance even before graduating with a bachelor’s degree in commerce from the University of Delhi in 2016. He started his career as an Articled Trainee in an accounting firm in 2013 and was later promoted to Senior Associate, where he remained until 2017. He worked on Statutory Audits of leading companies in the housing and real estate, consumer goods manufacturing, engineering, heavy equipment manufacture, textile, automobile, hotel, entertainment, and banking industries throughout his time with the accounting company.

India’s fintech market is the fastest growing in the world, with 67 per cent of the more than 2,100 fintech firms in existence having been established in the last five years. The fintech market in India is already worth US$31 billion and is expected to grow to US$84 billion by 2025. The rise might be ascribed to these fintech organisations’ digital adoption to make life easier for their customers.

Nishant Arora began working in finance even before graduating with a bachelor’s degree in commerce from the University of Delhi in 2016. He started his career as an Articled Trainee in an accounting firm in 2013 and was later promoted to Senior Associate, where he remained until 2017. He worked on Statutory Audits of leading companies in the housing and real estate, consumer goods manufacturing, engineering, heavy equipment manufacture, textile, automobile, hotel, entertainment, and banking industries throughout his time with the accounting company.

India’s fintech market is the fastest growing in the world, with 67 per cent of the more than 2,100 fintech firms in existence having been established in the last five years. The fintech market in India is already worth US$31 billion and is expected to grow to US$84 billion by 2025. The rise might be ascribed to these fintech organisations’ digital adoption to make life easier for their customers.

Even the banking sector has started moving towards an all-online process. It’s always easier to be a user of such services online where all the info can be accessed at your fingertips. The government has started allowing API access to the majority of its portals like GST, Digi locker, etc which makes it easier for Fintech firms to connect with the consumers seamlessly and provide solutions and services like never before.

Fintech firms, with the help greater than ever, reach of technology till commoners have transformed sectors like insurance, retail, investment advisory, etc. Nonetheless, there is still an infinite scope of the turnaround in sectors like consulting, financial planning, wherein online competition has still not moved the industry.

https://www.cxooutlook.com/fintech-firms-connecting-with-consumers-in-a-unique-way/

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