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CS Professional · IFSCA - Regulations, Listing and Compliances · Book-keeping, Accounting, Taxation and Financial Crime Compliance Services and TAS

Arjun, a chartered accountant in Ahmedabad, wants his firm's GIFT IFSC branch to offer taxation services to IFSC units only. Which approach fits the IFSCA scheme for such services?

Arjun's firm should set up a presence in GIFT IFSC and obtain IFSCA authorisation as a service provider for taxation services. SEBI adviser registration or a banking licence covers different activities, and informal service from outside does not satisfy the IFSCA framework.

  1. AOffer services informally through the Ahmedabad office without any IFSC presence
  2. BEstablish a presence in the IFSC and seek IFSCA authorisation as a service provider for taxation servicesCorrect
  3. CSeek approval from SEBI as an investment adviser
  4. DSeek a banking licence from the IFSCA

Explanation

The framework contemplates entities with a presence in the IFSC being authorised by IFSCA to provide these professional services. SEBI investment adviser registration and a banking licence relate to different activities, and informal service from outside the IFSC does not meet the framework.

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