IEC
IEC is the Importer Exporter Code. DGFT gives it to you as a code of 10 signs. You need it to ship goods out of India or to bring them in. One code covers both.
Compliance & RegistrationsIFSC
IFSC is the Indian Financial System Code. It is a code of 11 signs that names one bank branch. You need it to send money by NEFT or RTGS. Your bank prints it.
Banking & FinanceIGST
IGST is the tax on goods and services that cross a state border. The Centre collects it for all the states. You see it on your bill or your invoice.
GST & Indirect TaxIMPS
IMPS is the instant way to move money between banks. It runs 24x7 and works on holidays too. You send it from a banking app with the IFSC code.
Banking & FinanceIncome Tax
Income Tax is a direct tax on what you earn. The Income Tax Act, 1961 sets the rates and the slabs. You pay it on wages and on business profit each year.
Income TaxInd AS
Ind AS means Indian Accounting Standards. These rules tell a firm how to write its books to match world norms. The MCA brings them out for large firms.
Accounting & AuditInd AS 115
Ind AS 115 is the Indian standard for revenue from contracts with customers. It has a 5-step model. You use it when you sell goods or give a service.
Accounting & AuditIndependent Director
An independent director has no job or trade tie with the firm. They are not part of the owner group. Section 149(6) of the Companies Act sets the test.
Corporate LawInternal Audit
Internal Audit is a check of your books by your own team. It finds errors and risk in the way you work. Section 138 of the Companies Act also asks for it.
Accounting & AuditIRDAI
IRDAI rules the insurance trade in India. It gives out a licence to a firm that sells cover. It guards your claim. Check its site for the rule book. Read it.
InsuranceIRN
IRN is the hash code for a GST invoice. The Invoice Registration Portal gives it. You use it to check a bill. You can pull up that bill any time.
GST & Indirect TaxISO
ISO is the world body that writes standards. These set the rules on how a firm must work. A client asks for ISO 9001 to see that you meet them.
Compliance & RegistrationsITC
ITC is the GST you paid on inputs and input services. You set it off against the GST you charge on sales. You need the supplier bill to claim it.
GST & Indirect TaxITR
An ITR is the income tax return you file each year. It shows your income, deductions and the tax you must pay. You pick the form that fits your type of income.
Income Tax