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Import Export Code Registration

January 30, 2021February 2, 2021 PEAK bcs Leave a comment

What is Import Export Code (IEC) Importer Exporter Code is an identity number issued by the Directorate General of Foreign Trade (DGFT) for the purpose of doing Importing and Exporting business in India. This identity number is shortly known as IEC or...

Digital Signature Certificate ( DSC)

January 10, 2021February 2, 2021 PEAK bcs 2 Comments

A digital signature certificate is an electronic form of a signature that can be used to authenticate the identity of the sender of a message or the signer of a document, and also ensure that the original content of the...

How to apply GST Registration at https://reg.gst.gov.in?

December 7, 2020January 30, 2021 PEAK bcs Leave a comment

GST Registration Procedure An Online application has to be submitted through the common portal of GST (GSTN) within 30 days from the date when liability to register arose. The online application for GST Registration shall be submitted through the website,...

Permanent Account Number (PAN)

December 7, 2020December 31, 2020 PEAK bcs Leave a comment

What is a PAN ? PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card as given below (commonly known as PAN card): Use of a...

Tax Deduction Account Number (TAN)

December 7, 2020December 31, 2020 PEAK bcs Leave a comment

Tax Deduction Account Number (TAN) or Tax Collection Account Number is a 10-digit alphanumeric number issued by the Income-tax Department (we will refer to it as TAN). TAN is to be obtained by all persons who are responsible for deducting...

Goods and Service Tax – GST Registration FAQ

December 7, 2020December 31, 2020 PEAK bcs Leave a comment

GST Registration - FAQ 1. Does aggregate turnover include value of inward supplies received on which RCM is payable? Ans : Refer Section 2(6) of CGST Act. Aggregate turnover does not include value of inward supplies on which tax is...

TRACES – TDS Reconciliation Analysis and Correction Enabling System

December 7, 2020December 31, 2020 PEAK bcs Leave a comment

TRACES is a user-friendly application that will help you to manage your TDS / TCS account. Some of the functionalities available through TRACES are listed below. Dashboard view presenting summary of your accountStatements / PaymentsDownloadsProfile Deductor login page of the...

Tax Credit Statement – Form 26 AS

December 7, 2020December 31, 2020 PEAK bcs Leave a comment

Introduction to Form 26AS Income Tax Department facilitates a PAN holder to view its Tax Credit Statement (Form 26AS) online. Contents of Form 26 AS Details of tax deducted on behalf of the taxpayer by deductors - Part A &...

Tax Free Incomes – Sec 10

December 7, 2020December 31, 2020 PEAK bcs Leave a comment

A) Agricultural Income [Section 10(1)] As per section 10(1), agricultural income earned by the taxpayer in India is exempt from tax. Agricultural income is defined under section 2(1A) of the Income-tax Act. As per section 2(1A), agricultural income generally means:...

Registrations and Licenses required for Startups in India

December 7, 2020December 31, 2020 PEAK bcs Leave a comment

Step 1 : Registration of a Startup Company in India. An entrepreneur can register a startup as :- Proprietorship FirmPartnership FirmPrivate Limited CompanyLimited Liability Partnership. Step 2 : Open a Bank Current Account A bank current account is important to...