E-Governance, Financial, Healthcare, Insurance Services - Alankit Group

Registration for taxation is mandatory in the UAE for businesses trading goods and providing services. Value Added Tax (VAT) registration simply refers to the tax registration for such businesses.    Contrary to popular belief, not all businesses require VAT registration. Only those exceeding the annual aggregate turnover threshold of AED 375,000 must register. In addition, businesses that cross the total value of supplies in the next 30 days, need to indulge in VAT registration. The rising popularity of VAT is owed to an increasing number of businesses that want to represent themselves as government-acknowledged entities. Once they are VAT registered, they are authorized to collect it from their customers, and later get it remitted to the government. Other reasons why businesses are inclined towards VAT registration in UAE : 1. Collecting VAT for taxable supply of products and services 2. Paying VAT to the government 3. Filing VAT returns periodically 4. Claim In...

The Reserve Bank of India (RBI) has envisioned the financial inclusion plan which aims to provide easy access to affordable financial products and services for the economically weaker sections and lower-income groups in the country. It initiated the Business Correspondent Model in 2006. Under this framework, Business Correspondents (BCs) are authorized as third party agents by banks and deliver banking and financial services on behalf of the banks. For their services, Business Correspondents also receive a commission from these banks. Business Correspondents have a pivotal role to play as they bring vital banking facilities to the financially-excluded members of the society in far-flung areas where banks do not have presence. The Business correspondent model is actually a partnership model wherein each partner has a specific role to play. With its noteworthy contributions in the Indian e-governance segment, Alankit Limited has excelled in ensuring a speedy delivery of last mile banking...

Among a list of things that one needs to consider, when going abroad, is the need for attestation of certificates. For instance, the certificates or documents of an Indian citizen, who is visiting Dubai, will need attestation from any of the authorized government offices in India and must be validated by attaching the signature of the verifying personnel. Similarly, a person in the UAE will also be required to provide documents attested by the home government when he or she is visiting India or any other country. There are many agencies that offer certificate  Attestation Services in Dubai through the online mode. The process of certificate attestation refers to the authentication or legalization of valuable educational, non-educational, and commercial documents that would be required in another country for purposes like business, employment, higher education, or immigration. It is a crucial task that needs to be undertaken because, without proper documentation, a person may face d...

All taxpaying individuals and entities, Indians and non-resident Indians (NRIs), are allotted a unique identity number, known as the Permanent Account Number (PAN), by the Income Tax Department under the Income Tax Act, 1961. The PAN is a 10-digit alphanumeric number that is imprinted on a laminated plastic card known as the PAN Card. PAN Card is an electronic system wherein all the tax-related information of individuals & entities are recorded by the Income Tax Department, Govt. of India, under a single Permanent Account Number. No two taxpaying entities can have the same Permanent Account Number. A valid PAN Card serves as an important identity proof for any individual or entity which displays has all the vital details of the PAN holder. It is important to provide this identity proof when one is planning to engage in major financial transactions in India. Also, foreign passport holders and even minors can apply for a PAN card. The PAN Card can be obtained simply by submitting a d...

Add caption Value Added Tax (VAT), an indirect tax levied on the supply of goods and services, was introduced in the UAE in January 2018 with an aim to achieve a stable economy, boost government revenue and help businesses achieve overall efficiency. The rate of VAT is 5 per cent. Companies in UAE are required to register for VAT if the value of their taxable supplies exceeds AED 375,000 over the previous 12-month period or is estimated to exceed that threshold in the next 30 days. Voluntary registration is possible if supplies and imports (or expenses in case of a start-up business) exceed AED 187,500. With one year of the successful VAT implementation in UAE, the system brought some challenges for UAE companies pertaining to augmented costs besides the implementation costs as well as the impact on cash flows. Yet, it promised to ensure long-term benefits by replacing the inefficient accounting systems and enhancing business efficiency.  Many  VAT consultants in UAE  wor...

The days are behind us when investing in the stock market was a tedious affair. We’re living in a new, technologically connected world where trades can happen in seconds using only the device in your hand. If you are somebody who is interested in trading, wouldn’t you want to know the best online trading services?  Let us first understand why online trading platforms should be your choice. The World On Your Screen : Get all the market updates and information about the shares right in front of you. Autonomy : You don’t need to call  a broker every time you want to buy a share; you can do it yourself with a simple click. High Speed : Markets and stock prices are ever-changing. Online share trading platforms provide trading speeds that are incredibly high so that you can seal the deal in time   Which online trading platform to choose? It can be hard to make a choice when there is an abundance of services available in the market today, but nobody can compete with the bes...