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IBSN moving to SEZ location
Dec 21, 2010 Hyderabad, India |
IBSN has signed MoU today to move its operations into a newly constructed SEZ (special economic zone) keeping the enormous listed out benefits that it may add as compared to its current operation. This strategic move will enable IBSN to avail Exemption from all income tax and local taxes like Service Tax, Sales Tax and Entry Tax. In addition, a major reduction in overall operational costs.
Though first phase to house about 1,000 staff would be fully functional in September next year, the CEO said “A formal launch would happen in September or so but, the operations will begin in January next year and they are likely to start with about 375 staff”. |
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IBSN collaboration with KL University - B Com (US Taxation)
Nov 12, 2010 Vijayawada, India |
For the first time in the country, KL University (Vijayawada) in collaboration with IBSN is launching a new programme for Commerce students with “US Taxation” as major specialization. This Programme is the first of its kind in India, catering to the needs of the evergreen Global Accounting, Financial & Taxation sector. The program aims to provide cutting edge knowledge in the frontiers of US Taxation using latest pedagogy to develop brilliant financial cum taxation minds and designed to provide training in the techniques, nuances in taxation for individuals, corporate sector, banks, and financial institutions. The University and IBSN have signed Mou today and the same is published in all leading national and regional dailies.
This new initiative, “Learn by Experience”, has been adopted by KL University, where B Com [US Taxation] students, after completion of their 8 months studies every year, are placed for hands-on practical experience (during their vacation period – 4 months) with a MNC along with a handsome monthly stipend. This Programme gives the students the required exposure to the real-time work experience in the MNC companies, which in turn would give them the edge over others while scouting for placement or seeking admission in reputed B-Schools for higher studies across the globe. This Programme
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Contains all the essential inputs which would be helpful for excellent performance by the desirous B Com Graduates in their higher studies (CPA, CFA, CA, MBA, etc.) |
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360° curriculum that covers all major aspects of Accounting cum US Taxation operations with Personality Development and other management inputs, including Finance |
Apart from the comprehensive theoretical aspects, this course, the first of its kind in India, will sharpen the expertise and excellence of the students through multiple case studies across the industry and service sector. Long-term career prospects in US Taxation, Accounting & Finance are excellent and the future of this stream is certainly very bright.
Addressing a press conference here on Thursday, KL University Chancellor told that this was a first of its kind agreement and an industry-academia initiative to foster the spirit of collaboration to offer even employment opportunities to qualified students. |
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IBSN to go public soon
Aug 18, 2010 Hyderabad, India |
Unveiling the vision to become the first BSE Listed Accounting Knowledge Process Organization, IBSN today has entered into an agreement with a BSE listed entity today and has initiated the process of reverse merger.
Mr. Palaypu said “Though we still have some more tasks to achieve now to reverse merge IBSN India into Scope, hereon it is only the procedure that matters. I am so happy to announce that IBSN India is valued at Rs 110 Crores for merging into the BSE listed entity and this means a lot to the years of contribution made”.
The objective of the reverse merger is to smoothly and successfully merge the management, business and operations of the Company and the BSE listed entity onto one common platform, without much regulatory framework and time consuming process. Also, the Initial costs are much lower and excessive investment banking fees are avoided. This amalgamation process will enhance tremendous value addition to the promoters, shareholders, investors, customers and the public at large. Getting listed helps IBSN position itself big.
Sharing this merit, CEO thanked everyone for the kind support extended and requested all stakeholders to kindly extend the same warmth of mutually benefitted relationship. |
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IBSN bagged HNI client Assignment – Cross Border Tax Solution
Jul 07, 2010 Hyderabad, India |
IBSN today bagged a major Hospital project assignment for the next 5 years. The total yearly billing is expected to be around $500,000 on this single client for the next 5 years offering INR 2.3 Crores fixed income from one single client.
After experimenting with Big 4s, this privately held company has chosen IBSN considering the planning merit expertise. The Hospital Promoter told that he had preferred IBSN for a long-term relationship because IBSN has specialists who are capable of becoming all-round business advisers, trusted practitioners who can provide valuable advice at a strategic, management or board level that will help the business grow and develop across globe. IBSN could successfully win-over the client based on the aforesaid statement. |
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IBSN’s foray into Trading Desk
Feb 05, 2010. Hyderabad, India |
Powered by strong results, a highly impressive team of consultants and industry experts, a burgeoning client base and tremendous in-house research capabilities, IBSN has steadily gained the wherewithal to expand its services and cater to the trading needs of its clients.
Trading Desk - IBSN has recently acquired BSE & NSE Trading terminals and are proposing to launch online/offline Trading Platform for NRIs/PIOs to do investment transactions (buy & sell) on BSE/NSE.
“We are also facilitating NRIs/PIOs with a Full Service Investment Desk offering the following critical helpline for enabling them have smooth entry and flow of transactions and freely invest into the Indian Markets; and this service shall be made available to the public shortly.” – said Mr. Laxmi Palaypu, CKO. |
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Real Estate - Today, IBSN introduces its clients an opportunity to maximize Return on Investment (ROI) absolutely Tax Free on the real estate property investment made in India. A regularly employed Married Filing Joint Taxpayer may invest up to $10,000 per Tax Year into Real estate property and enjoy multiple enlisted benefits. |
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The investment made is absolutely Tax deductible on the Tax Return |
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Any kind of revenue that this investment brings is absolutely Tax Free( Rent, lease, Capital Gain etc..) |
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IBSN’s advisory services are especially meant to cater to this requirement, in giving lucrative and trustworthy deals in the booming real estate markets of India. IBSN intends to offer a complete turn-key consulting service for FREE. Many clients have shared their interest to participate in Trading and have appreciated the initiative to help the Indian community residing in USA. |
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IBSN launches customised Tax Planning Services for Indian Community
Jan 01, 2010. Hyderabad, India |
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Implementing years of research effort, IBSN has strategically structured even some of the migrant taxpayer’s regular transactions connected back home as tax savings/deferring/deductions. |
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Tax Planning on Transactions connected back Home: Property Investments - Income/Loss derived outside of the US – Purchase of Gold/Silver - Loans extended to siblings, friends, associates or businesses - remittances into NRE/NRO accounts – Stock Purchases – Student Loan Interest – Donations etc. |
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Advanced Planning: Multiple Entity Structuring for strategically splitting income or assets into complex tax havens - Drafting Living Trust, Pour over Will – Creating Children Education Trust - Establishing Private/Public Foundations for building Schools/Colleges, Temples, Hospitals, Research or any other Foundations etc |
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Acting as Full Service Coordinator: both in US and in India for all necessary paperwork, documentation and approvals. |
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With the expertise it has gained over the years, IBSN is now geared to provide advanced tax planning services in the US market to help reduce individuals’ taxes with innovative planning scopes. IBSN merits developing robust & time tested Tax Planning Strategies unique to the Expatriate Community (Consultants, Physicians & Self-Employed) of the US. This customised model is expected to further increase tax savings to Taxpayers, roping in more clients and increasing scale of business. |
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IBSN New office inaugurated
Dec 03, 2009. Hyderabad, India |
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IBSN has inaugurated its new “IBSN Global Knowledge Process center” at iLabs, Software Units Layout, Hitech city – IT hub of Hyderabad. The new office was inaugurated by Mrs. Geetha Darbha (CEO) & Mr. Laxmi Palaypu (CKO). At the inauguration function, IBSN recognized all its staff, shareholders, clients, vendors and other affiliates who were with IBSN at all times and for making this event happen.
IBSN new office is an open office system with no cabins fully monitored by cameras. The few closed rooms are glass-walled and meant for managerial cadre, conferences and meetings. The principle of transparency and openness was maintained in the design and layout of the office. Brightly lit with plenty of natural light, natural sceneries, even the team lead Managers sits in an open hall with their teams.
The immaculate & aesthetically designed premise has lot of precision and a high focus on environmental conservation. IBSN pays special attention to the Health, Safety, Security & the Environment. Special features have been factored in to ensure energy efficiency. Double glazed windows, heat recovery systems, variable frequency drives for air conditioning with treated fresh air and maximum natural light for the office space ensures energy efficiency. There is also a special focus on the safety and usability in the building. iLabs building is user friendly for differently-abled people with the presence of ramps, access and specially designed rest rooms.
Speaking on this occasion CEO said, "We are a very people-centric organization and we have taken great care to design the office so that there is open communication and transparency within the organization. We also encourage our employees to be health conscious and we are making arrangements to provide gym and recreational facilities shortly. This office is going to encourage people to adapt to energy efficient ways of living to cut down travel and usage of paper. IBSN is stepping towards a new path to success and hope to open-up multiple offices across the globe. " |
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600+ joined IBSN Knowledge Team
Nov 30, 2009. Hyderabad, India |
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An amazing number of 600 + across the country joined IBSN Knowledge team on Nov 30. The company offered a variety of team building events, knowledge sharing activities, games, fun and relaxation followed by orientation.
“First of all, our purpose of gathering all these persons for a joint event was to make them feel the greatness of being part of “One IBSN” and to strengthen networks and knowledge sharing across the organisation in a time where IBSN is expanding rapidly,” says CEO, Mrs. Geetha Darbha and adds: “It has been a real pleasure to experience the good atmosphere and commitment among our staff at this event”.
With recessionary phase hitting the employment across various verticals of the industrial sector, IBSN has managed to recruit qualitative Accountants, Taxation specialists, CPAs, CAs/CWAs (Qualified & semi-qualified) and Management graduates. These highly qualified staff, who has the right blend of a strong academic background coupled with an equally powerful wealth of practical experience are being trained by skilled professionals / trainers who has strong capabilities and proven track records in their respective fields. |
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IBSN to recruit IIMs and to add 800 staff in 2009-10
March 01, 2009. Hyderabad, India |
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IBSN has decided to recruit specialised staff, including IIM graduates, CPAs, chartered accountants, cost accountants, for the first time as part of its major recruitment drive to employ 800 people this year. "We are recruiting specialised people such as management graduates from IIM, ISB, XLRI, CPA, CA and cost accounts who will be entrusted with various responsibilities in US Tax process for effectively meeting our growth objectives," Sr. Vice President (Human Resources) announced today.
With recessionary phase hitting the employment across various verticals of the industrial sector, IBSN has managed to recruit top B’schoool graduates (IIM, ISB, XLRI) through on campus recruitment by offering decent annual package and deployed couple of dozens of them. |
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IBSN is Franchising
Dec 01, 2008. Hyderabad, India |
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With the vast knowledge and practice, IBSN now took a step forward to franchise its operation to 100 owners to begin with, which is a part of the company’s expansion plans.
“We would offer both investment and operational franchising, so that our franchisees can receive huge gains of as high as even 100% on their investments within a very small time span and also benefit by providing us efficient labour thereby making their profit margins touch heights. The company is already into talks with a number of potential investors. “ Said AVP (Franchise).
The franchisee model is expected to further increase IBSN’s presence in the US market hence, roping in more clients and increasing scale of business. |
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IBSN Tax Planners, today has launched Advance Tax Planning Service.
November 7th, 2008. Moline, IL
Now, the most awaited Advance Tax Planning Service – powered by IBSN Tax Planners, Inc is open to public...
IBSN Tax Planners, Inc. today, has launched Advance Tax Planning (ATP) Service – A single window service for Tax Planning needs.
“It has been our continuous effort to offer the best tax saving plans to our esteemed clients. As part of this endeavor, we are very glad to offer this Advance Tax Planning for the Tax Year 2008, well before year end. With stock markets crashing, major corporates going bankrupt, global economic crisis, thousands losing jobs and Governments proposing to increase the tax rates, it is high time for an expatriate individual to plan their future now in the most secure and safest manner”, said Mrs. Geetha Darbha, CEO
“In today’s world uncertainties, many 2008 tax savings opportunities will be lost forever on December 31, 2008,. A little time well-spent now can result in significant tax savings later. There are significant advantages planning ahead, including the peace of mind that comes from knowing that you are prepared for your financial future. IBSN Advance Tax Planning Services is being launched prior to Dec 2008 in the light of the severe financial and economic crisis the US is facing today. We are hoping that this advanced planning is essential for every tax payer to safely harbour the earned income and wealth appropriately by an efficient tax planning mechanism”, said CKO Mr. Laxmi Prasad Palaypu
CKO added “In this specialised Service, IBSN Tax Analyst will completely study / analyse Taxpayer’s current tax situations, perform in-depth research to identify the apparent “Tax Planning Gaps” and recommend the best possible Tax planning scopes in a “Confidential Tax Planning Document” well in advance (before year end - TY08), so that the tax impact of individual decisions is best known prior to the point of filing your Tax Return.”
Login www.ibsntax.com for more details.
IBSN & ICS announces the launch of www.mybizfiler.com, one shop portal for Businesses in North America.
September 9th, 2008, Moline, IL – IBSN & ICS announces the launch of www.mybizfiler.com, one shop portal for Businesses in North America. Services include Incorporation of Companies, Trusts, Book Keeping & Accounting, and Payroll Processing services. We launched mybizfiler portal much ahead of our schedule and we are confident that our clients will like it, commented Mrs. Geetha Darbha Chairperson, IBSN Group of Companies. Laxmi Palaypu, CKO & CFO said that the marketing and operations has taken off. Many clients have shared their experiences, and have appreciated the quality delivery ICS has demonstrated.
IBSN Inc today incorporated 5 new subsidiaries in the state of Illinois
June 18, 2008 IL, USA - IBSN Inc today incorporated 5 new subsidiaries in the state of Illinois, IBSN Tax Planners Incorporated, IBSN Corporate Services, IBSN Global, IBSN Financial Services & IBSN Technologies.
The newly incorporated companies would offer IBSN Clients an array of US & Global Taxation, Business, Financial & Technology services. Services offered by these companies include - High Networth tax planning, Self directed IRA’s using efficient Funding vehicles, Formation of Entities (C Corporation, S Corporation, Trusts, Estates etc), 412I plans, Business Insurance programs, Payroll processing, Book Keeping, Financial Analyst services, Corporate taxes, Trademark and Copyrights, Wills and Living Trust, Power of Attorney, Real Estate Leasing, bankruptcy filing & Capital sourcing. “This step is a strategic move towards offering end to end services to our clients in the US and globally as well. IBSN Global would very soon start penetrating in other English speaking countries, offering “IBSN Suite of services”. IBSN Management commented.
IBSN signs MOU, takes the next big step for getting listed
January 26, 2008 – Mumbai, India – IBSN’s board today announced that an MOU has been signed with the shareholders of a listed company (name of Target Company not disclosed for compliance reasons). Mr. Laxmi Prasad Palaypu, CKO & CFO said, “This signed MoU is our first major breakthrough in the Acquisition Process. It’s a dream vision for IBSN to become public. This will put all of us to the next level”
IBSN unveils upgraded web application and homepage to its US clients
January 10, 2008 - with US tax season approaching IBSN formally launched its .net based web portal for filing US taxes. President & CEO, Geetha Darbha, said this year IBSN is very confident about delighting its US customers given the strategic changes that have been brought in management, addition to talent pool, technology, and operations.
IBSN gets funded by US Bank
Dec 17, 2007. Moline, IL - IBSN gets funded by US Bank for working capital and strategic investments it has planned for the next 2 years. Mrs. Geetha Darbha President & CEO said that this funding by the bank has come in at the right time. It will help IBSN diversify its services mix; penetrate into other English speaking countries such as UK, Canada and Australia with its Taxation and Financial services solutions. Mrs. Geetha, Mr. Laxmi Palaypu, CKO & CFO and Mr. Ravi Kumar, VP - Operations, thanked the US Bank management for its confidence in IBSN and its management.
IBSN Board approves acquisition and listing plans
December 12, 2007. Moline, IL - IBSN' Board approved the management's acquisition and listing plans for strategic business initiatives. The company's CFO has been asked to negotiate with target companies in BPO/ITES segment listed on the Bombay stock exchange. The acquisition effort if successful is slated to be completed by April 30, 2008.
IBSN adds 300+ employees to its Talent pool
Dec 1, 2007. Hyderabad, India - with US tax season for 2007 approaching, IBSN adds 300+ accounting and taxation professionals to its knowledge pool. IBSN valued its knowledge assets at 5.1 million USD in its books for period ended May 31, 2007.
IBSN inaugurates new facility in Hyderabad, India.
November 20, 2007. Hyderabad, India - IBSN inaugurated its new Process excellence center and Corporate Office in the heart of Hyderabad, India. The office measuring 26,000 sft can seat upto 350 employees in 2 shifts. With total of 3 facilities in India and US, IBSN total seating capacity has reached 550.
IBSN to make an entry into Individual Indian taxation services
July 25, 2007. Hyderabad, India - IBSN' plans of starting taxation services in domestic Indian market w.e.f TY 2008, has been operationally finalized. The functionality and features of the IBSN' self service tax portal received a big applause from one of the large tech houses. IBSN expects to serve its Indian clients with tax filing, planning and representation services. IBSN's management commented this as the first step towards taking IBSN's suite of services global.
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