The
term financial services include everything which can coin the term
finance. Anything which can be related to finance, in terms of providing
benefits to people, or facilities can be known as financial services.
Like for example your debit card is a type of financial service provided
by the financial organization like bank, to elp you withdraw cash at
any point in time, and as per your needs. Financial services may also
include the tools like bonds and debentures, equity, ETFs, even your
credit cards, loan services or the services that are provided to you in
terms of making your tax payment easy. A service tax registration is a
financial task that every earning individual or more so, an individual
who is eligible and is providing a taxable service to the society, has
to go through as per the rules of one’s state. In India the taxation
procedure is federal.
Every
earning member of the society who is eligible to pay taxes has to get
himself the service tax registration. As and when there is a change in
the type and kind of his service, the assessee is also required to make
the compulsory amendments in his pre- registration. Financial services
also include loan arrangements as a kind of service. Loan is a very
common requirement, and people obviously prefer the loans which can
provide them benefits like low interest rates or any benefits in terms
of tax saving. India, many home loans are eligible for the tax benefits.
Similarly there are companies which provide loan with lower interest
rates to allure people. Most of the time when these companies are
registered with government, they come out to be genuine. But there have
been cases when few companies play by words. If you are not a very niche
financial player, you might get caught in the traps of such companies
and loose what you had supposed to gain.
Financial
services not only provide benefits and services to individual
customers. They also play in helping the new companies come up, and also
the existing companies to build there financial base, for launching a
new product or services. A company may in fact may not need the
assistance of outsourcing their financial requirements, and can do this
by themselves, If they have a niche finance department. They can do this
by the help of a proper equity financing. Equity financing is a process
in which a company can raise money for making up for their financial
bases, by selling some common or proffered stocks to the individuals in
the market. Everyone who buys these stock becomes a shared owner of the
company. Therefore the equity financing gives all the shareholders the
wer of ownership over the company.When one outsource the financial
services, he very easily outsources even the risks related to the
services. And therefore, we can find the new kind of financial domain,
providing services as well as employment for the benefit of all.
