# ๐๐จ๐จ๐ค-๐ค๐ž๐ž๐ฉ๐ข๐ง๐ , ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ๐ข๐ง๐ , ๐“๐š๐ฑ๐š๐ญ๐ข๐จ๐ง, ๐š๐ง๐ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐‚๐ซ๐ข๐ฆ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ข๐š๐ง๐œ๐ž ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ (๐๐€๐“๐…) ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ญ๐ข๐จ๐ง๐ฌ Published: 02 Jul 2024 | Last updated: 08 Jan 2025 Author: Treelife Practice area: News Source: https://treelife.in/news/batf-regulations/ --- Blog Content Overview - [0.1 Permissible Activities](#Permissible_Activities) - [1 Additional Requirements](#Additional_Requirements) The International Financial Services Centres Authority (IFSCA) has recently rolled out the ๐๐จ๐จ๐ค-๐ค๐ž๐ž๐ฉ๐ข๐ง๐ , ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ๐ข๐ง๐ , ๐“๐š๐ฑ๐š๐ญ๐ข๐จ๐ง, ๐š๐ง๐ ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐‚๐ซ๐ข๐ฆ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ข๐š๐ง๐œ๐ž ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ (๐๐€๐“๐…) ๐‘๐ž๐ ๐ฎ๐ฅ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐‰๐ฎ๐ง๐ž 2024. We are thrilled to share a snapshot of the permissible activities and essential considerations to keep in mind before setting up a BATF unit. #### **Permissible Activities** **Book-keeping Services** - **Inclusion:** Classify and record transactions, including payroll ledgers in books of account - **Exclusion:** Does not include payroll management and taxation services **Accounting Services (excluding audit)** - **Inclusion:** Review, compilation, preparation, and analysis of financial statements - **Exclusion:** Audit; Review and compilation without any assurance and attestation **Taxation Services** - Offer tax consultation, preparation, and planning - Advise on all forms of direct and indirect taxes - Prepare and file various tax returns **Financial Crime Compliance Services** - Render compliance services of AML/CFT measures, FATF recommendations, and related activities --- ### **Additional Requirements** - **Legal Form:** Company or LLP - **Service Recipient:** Non-resident and does not reside in a high-risk jurisdiction identified by FATF.* - **Minimum Office Space Criteria:** 60 sq. ft. per employee --- *Please refer to the list of High-Risk Jurisdictions โ€“ February 2024. ### Related posts: - [The Union Budget 2023: Macro Economic Highlights](https://treelife.in/news/the-union-budget-2023-macro-economic-highlights/) - [Deciphering the Supereme Courtโ€™s verdict on Most Favoured Nation (MFN) clause](https://treelife.in/news/deciphering-the-supereme-courts-verdict-on-most-favoured-nation-mfn-clause/) - [Regulatory Update from IFSCA (International Financial Services Centres Authority)](https://treelife.in/news/regulatory-update-from-ifsca-international-financial-services-centres-authority/) - [IFSCA releases consultation paper seeking comments on draft circular on โ€œPrinciples to mitigate the Risk of Greenwashing in ESG labelled debt securities in the IFSCโ€](https://treelife.in/news/ifsca-releases-consultation-paper-seeking-comments/) --- This is informational content from Treelife. For advice specific to your situation, contact support@treelife.in