import export code (iec) registration

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many start-ups either end-up paying too much tax or, worse, get into tax problems due to poor planning and execution?

TDS is required to be deducted @ 10% even on Telephone & bandwidth charges paid by the company?

Late payment of TDS attracts interest @18% p.a. and penalty upto TDS amount and also risk imprisonment of upto 7 years?

Delay in filing of TDS return attracts late fee of upto INR 200 per day?

Penalty of Rs 100 per day is applicable for delay in issue of TDS certificates?

Delay in deposit of Service Tax attracts late interest fee upto 30% p.a. and penalty of INR 100 per day?

In certain cases service tax is to be deposited by service receiver and not provider?

Late deposit of Delhi VAT could attract Late interest fee of 15% p.a. and penalty of upto INR 200 per day?

import export code (iec)

Every person or entity in India willing to Import or Export is required to obtain Importer Exporter Code (IEC). IEC is a 10 digit code number given to an exporter or importer by the regional office of the Director General of Foreign Trade (DGFT), Department of Commerce, Government of India.

IEC is not required under the following circumstances:

1. Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.
2. Import/export by government ministries and departments, and certain notified charitable organizations.

1 Copy of important documents such as the address proof, ID proof of the proprietor/Partner/Director
2 List of Partners / Directors with residential address, phone number, etc
3 MOA and AOA for Companies
4 Four PP size photographs of the Proprietor/Partner/Director