Specialist Practice Division
A to Z in Expertise in Services in GIFT City
IFSC Entity Structuring, IFSCA Licensing, Fund Management & Section 80LA Tax Holidays
IFSCA Act, 2019, SEZ Act, 2005 & Income-tax Act, 1961 (Section 80LA)
Institutional Practice Overview
A to Z in Expertise in Services in GIFT City
Complete statutory, regulatory, and taxation advisory for establishing and operating within Gujarat International Finance Tec-City (GIFT City). We advise on Alternative Investment Funds (AIFs Cat I, II, III), Family Investment Funds (FIFs), Fund Management Entities (FMEs), offshore corporate holding entities, cross-border treasury desks, 10-year Section 80LA tax exemptions, and IFSCA regulatory compliances.
At R.D. Kundalia & Co., our senior partners and qualified associates deliver disciplined, proactive guidance to ensure full statutory compliance, protect client rights during regulatory scrutiny, and optimize financial outcomes.
4
Capability Pillars
10
Key Deliverables
1985
Practice Inception
ICAI
Code of Ethics
Governing Statutes & Provisions
Our advisory and attest functions are benchmarked against key legislative mandates:
- IFSCA (Fund Management) Regulations, 2022
- Section 80LA, Income-tax Act, 1961 (100% Tax Deduction for 10 Consecutive Years)
- Special Economic Zones Act, 2005 & SEZ Rules, 2006
- FEMA (International Financial Services Centres) Regulations, 2015
- IFSCA (Finance Company) Regulations, 2021 (Aircraft / Ship Leasing)
- GST Exemption Notifications for Units in International Financial Services Centre
Statutory Forms & Schedules
Disciplined Statutory Oversight • 40+ Years Practice Continuity
Statutory Certainty in a Digitally Monitored Regulatory Era
“GIFT City IFSC provides Indian enterprises and global fund managers an onshore-offshore jurisdiction with 10-year 100% tax holidays. Navigating IFSCA regulations requires specialized cross-border regulatory architecture.”
— Partner, International Financial Services
End-to-end guidance across AIF Cat I/II/III licensing, Family Investment Funds (FIFs), Section 80LA certifications, and foreign functional currency audits.
Core Competency Matrix
Four Pillars of Practice Mastery
Structured into specialized sub-disciplines to provide end-to-end statutory depth.
IFSC Entity Structuring & IFSCA Licensing
- AIF (Category I, II & III) Fund Structuring & FME registration with IFSCA
- Family Investment Fund (FIF) & Single/Multi-Family Office incorporation
- Global In-House Centers (GIC) & IT/ITeS SEZ unit approvals and setup
- Aircraft & Ship Leasing entity authorization and SEZ Developer permissions
Direct & Indirect Tax Advisory (Section 80LA)
- 10-year 100% tax holiday planning under Section 80LA of the Income Tax Act
- Concessional 9% Minimum Alternate Tax (MAT) / Alternate Minimum Tax (AMT)
- Zero GST on offshore services and procurements from DTA / overseas suppliers
- Exemption from Dividend Distribution Tax, Securities Transaction Tax (STT) & Stamp Duty
Cross-Border Treasury, FEMA & Banking
- Foreign currency (USD/EUR) operational account setup with IFSC Banking Units (IBUs)
- Liberalised Remittance Scheme (LRS) route investments into GIFT City funds
- Overseas Direct Investment (ODI) and Foreign Direct Investment (FDI) reporting
- Inward/outward remittance documentation, Form 15CA/15CB & repatriation certifications
Statutory Audit, Accounting & Compliance
- Financial statement preparation under Ind AS / IFRS in foreign functional currencies (USD)
- IFSCA periodic compliance filing, half-yearly returns & annual disclosures
- SEZ performance reporting (Form I & MPR) and electronic Softex filings
- Transfer pricing documentation and benchmark studies for IFSC-DTA related party transactions
Comprehensive Scope of Services
Every engagement under Services in GIFT City is executed with meticulous documentation, statutory accuracy, and accountable reporting.
AIF (Cat I, II, III) Fund & FME Registration with IFSCA
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
Family Investment Fund (FIF) & Family Office Setup
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
Section 80LA 100% Tax Holiday Planning & Certification (Form 10CCF)
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
SEZ Unit Setup, In-Principle Approval & Letter of Approval (LoA)
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
FEMA & RBI Compliance for Cross-Border Capital Flows & LRS Inflows
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
IFSC Banking Unit (IBU) Account Structuring in USD/EUR
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
Aircraft & Ship Leasing Unit Authorization
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
Foreign Functional Currency Accounting & Ind AS / IFRS Financial Statements
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
SEZ Monthly & Annual Performance Reports (MPR / APR)
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
Statutory Audit & Annual Regulatory Return Filing before IFSCA
Compliant with IFSCA Act, 2019, SEZ Act, 2005 guidelines and ICAI audit standards.
Who We Advise & Represent
Structured Engagement Lifecycle
Statutory Diagnosis & Records Review
We analyze your transactional records, existing filings, and identify applicable provisions, exemptions, and compliance risks.
Reconciliation & Algorithmic Audit
Our team runs exhaustive multi-source reconciliations (ledgers, bank statements, government portal logs, statutory schedules).
Partner Review & Quality Attestation
Every filing and certification is vetted by a partner in accordance with ICAI Auditing Standards (SA) and relevant statutory rules.
Filing, Representation & Ongoing Support
We handle electronic filing with authorities, secure acknowledgements, and provide defense representation during departmental queries.
Consult a Specialist in Services in GIFT City
Whether you have an upcoming statutory filing deadline, need audit attestation, require registration with authorities, or face scrutiny notices, connect directly with our partner team in Kandivali, Mumbai.
Direct Partner Access
09323588800
rashmikantkundalia@yahoo.co.in
Other Specialist Practice Areas
Income Tax (Direct Tax)A to Z in Income Tax
Comprehensive direct tax management covering corporate tax planning, Tax Audits under Section 44AB, TDS/TCS compliance, faceless scrutiny assessments, and appellate defense before CIT(Appeals) and the Income Tax Appellate Tribunal (ITAT).
Company Law & Secretarial PracticeA to Z in Expertise in Company Act
End-to-end corporate legal and secretarial advisory under the Companies Act, 2013 and LLP Act, 2008. From company formation to complex mergers, rights issues, annual MCA e-filings, and NCLT compounding.
Maharashtra Public Trust Act (Charity Commissioner)A to Z in Expertise in Maharashtra Public Trust Act
Decades of trusted regulatory practice under the Maharashtra Public Trusts Act, 1950. We support religious, educational, and public charitable trusts with statutory Schedule VIII & IX audits, Change Reports, Charity Commissioner approvals, and integrated Central Income Tax exemptions.
Maharashtra Co-operative Societies ActA to Z in Expertise in Maharashtra Co-operative Society Act
Authoritative statutory audits under Section 81 and complete regulatory support for Co-operative Housing Societies (CHS), Commercial Premises, and Credit Societies in Mumbai. From Audit Rectification (Form O) to statutory funds compliance, TDS, GST, and conveyance advisory.
Goods & Services Tax (GST Act)A to Z in Expertise in GST Act
Strategic, end-to-end Indirect Tax advisory under the CGST, SGST, and IGST Acts. We streamline supply chain tax incidence, maximize Input Tax Credit (ITC) through algorithmic GSTR-2B reconciliations, ensure automated electronic invoicing, and defend clients during departmental audits and appellate disputes.
Government Schemes & FTAsA to Z in Expertise in Government Schemes & FTAs
Strategic advisory and execution across India's Foreign Trade Policy, multilateral Free Trade Agreements (FTAs/CEPAs/ECTAs), and central/state manufacturing incentive schemes. We assist corporate enterprises with Production Linked Incentive (PLI) compliance, RoDTEP scrip management, Advance Authorisation, EPCG duty-free capital imports, MOOWR bonded manufacturing, Preferential Rules of Origin (CoO) certifications, and Maharashtra PSI industrial subsidies.