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.”

“In today’s time where consultants suggest startups to use online tools to streamline their day-to-day finances & compliance management, SSI is trying to shift the paradigm and promote the KPO culture in India so that they can outsource key financial and technical activities to agencies like SSI. It will help founders/ entrepreneurs focus on their core business activities and grow // instead of being tied up in managing their financial processes and wasting time on something that can be outsourced and managed with ease,” he adds.

SSI is all about next-gen startups’ requirements, i.e providing quality services under one roof to guarantee efficiency and effectiveness in an easy process. “Coming from a vast experience and handling an array of industries, the promoters, experts and counsel of consultants at SSI help new startups adapt the working flows, SOPs’, knowledge base & know-how enjoyed till date by only leading corporations which eventually pay like maybe 7 -10 figure pay packages to their CFOs,” he said.

The company says that it is trying to replace accounts dept and not the CA; SSI is introducing CRM in financial services so that startups feel secure while being associated with a consulting firm. The experts at SSI are pushing and promoting use of targeted MIS, reporting mechanisms & data analytics to help the entrepreneurs get the best info out of their day-to-day activities.

On the usability of future-oriented KPO culture in finance in a labour-intensive country like India, Arora said, “Corporate employee count of Uber India is in double digits, which should appeal the entrepreneurs on how such a small number of employees can manage big shows; this is possible if a company is effectively automated and outsource the activities that do not concern its day-to-day business.”

On the extent to which outsourcing of financial/ technical activities can be done in a company, Arora said, “Some large corporations in India have even outsourced their payment management systems where service providers manage the banking of clients and remit payments approved as per the set SOPs’. But, this info doesn’t come to the knowledge of the masses. SSI is trying to bring in the KPO culture so that India can be labour as well as technologically intensive at the same time.

Visit Us : https://www.setupservicesindia.com/

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

Basic Business Compliance Package

A business entity, post-incorporation, has to ensure compliance to numerous statutes and other regulatory bodies notified by the Jurisdictional Government, from time to time.
 

Such compliances are mandatory in nature, and include various activities like periodic filing of tax returns, holding and reporting board meetings, maintaining statutory books of accounts, etc.

Annual compliance packages offered by SSI cover 100% of your legal compliance requirements and are designed to be totally reliable and reasonably priced in order to ensure that you can enjoy doing your business.

Customized services offered by highly qualified and experienced professionals of SSI take care of all Statutory compliance requirements and facilitate your ease of doing business!

 

SSI’s ANNUAL COMPLIANCE PACKAGES are a one-stop solution for a business’s compliance and accounting requirements. SSI acts as a one-stop-service provider to its clients by offering them end-to-end services in a committed, timely and transparent manner.

 

More Info : Basic Business Compliance Package

How To Set Up A Company In India

Many believe that it is optional to file Income tax returns and therefore end up being non-compliant with the country’s most stringent tax law, The Income Tax Act, 1961. Income Tax returns are an annual event and are the moral and social obligation of all responsible citizens.

Income Tax is a direct tax that is charged on the income of individuals or entities who are required to pay taxes to the government. The tax is calculated on the next taxable income of the entity based on the Income slabs which are notified by The Finance Act every year during union budgets.

Income tax is commonly taken off your pay by your employer, or of the service recipient, and sent directly to the account of the central government in the form of TDS.

Individuals or entities like HUF, sole proprietorships are required to calculate their taxes and file an Income Tax return if no more tax is payable after TDS (Tax deduction at source)

Each year, one should file a tax return with The Income Tax department, to:

• Report the annual income generated
• Ensure that the correct amount of income tax has been duly paid
• Access tax credits and benefits

 Why should you opt for SSI to assist you in filing your Income Tax return?

• Expert advisors assist all our clients and offer the most valuable consultations you can ever get.
• Your confidential information is secure with us and we practice non-disclosure for all our assignments.
• We offer you 365 days of relentless support, our customer relationship team ensures you are never in doubt, for anything that relates to your taxes.

More Info : How To Set Up A Company In India

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

Transfer Pricing Advisory | Company Registration Online

About This Plan

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.

Why is it mandatory for related parties to document their transfer pricing?

Finance Act, 1994 had introduced section 92A to 92F under the Income Tax Act. This separate code on transfer pricing under Sections 92 to 92F of the Indian Income Tax Act, 1961 covers intra-group cross-border transactions which are applicable from 1st April 2001, and specified domestic transactions which are applicable from 1st April 2012.

The Income Tax Act, 1961 now prescribes that income arising from international transactions or specified domestic transactions between associated enterprises should be computed having regard to the arm’s-length price.

It has been notified that any allowance for an expenditure or interest or allocation of any cost or expense arising from an international transaction or specified domestic transaction also shall be determined having regard to the arm’s-length price.

 More Info :  Transfer Pricing Advisory | Company Registration Online

Documents Required For Startup Registration

 

A Start-up comes into existence when a founder comes up with a great idea accompanied by an execution plan that can potentially change the way an Industry works and/ or gives a solution to a specific consumer need.
 

In a view to support such ideas for creating a better future, developing an effective Start-up ecosystem, and catalyzing the creation of employment opportunities through them in the country, The Government of India has launched a Startup India Initiative as their flagship scheme to promote innovative ideas and incentivize the entrepreneurs for setting up their ventures.
 

These programs are managed by a dedicated Startup India Team, which reports to the Department for Industrial Policy and Promotion (DPIIT)

Do you have a Startup?

Then you must meet the following criteria to be considered eligible for DPIIT Startup recognition to avail of the benefits declared by the Central/ State government(s) from time to time:
 

• Company Age: Period of existence and operations should not be exceeding 10 years from the Date of Incorporation.
   
• Company Type: Incorporated as a Private Limited Company, a Registered Partnership Firm, or a Limited Liability Partnership
   
• Annual Turnover: Should have an annual turnover not exceeding Rs. 100 crores for any of the financial years since its Incorporation
   
• Original Entity: Entity should not have been formed by splitting up or reconstructing an already existing business.
   
• Innovative & Scalable: Should work towards development or improvement of a product, process, or service and/or have a scalable business model with high potential for the creation of wealth & employment.
    

More Info :  Documents Required For Startup Registration