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Any person, being a buyer who is responsible for paying any sum to Seller for purchase of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, shall, at the time of credit of such sum to the account of the seller or at the time of payment thereof by any mode, whichever is earlier, deduct an amount equal to 0.1 per cent. of such sum exceeding fifty lakh rupees as income-tax

On 1st July 2020, Udyam registration was introduced by the Indian government for classifications of Business enterprises as Micro, Small and Medium size enterprises and their registration in Udyam website.

Financial managementis a key activity in any organization. It is a crucial part of starting and running a business, big or small. 

A works contract is a contract of service which may also include supply of goods in the contract. Basically, works contract is a composite supply of both goods and services.

Import export code or IEC is obtained by businesses for import into or export from India as part of Business transaction. Registration of the IEC code is applied under the foreign trade act 1992.