Digital Payments/ UPI Digital payments and Unified Payments Interface (UPI) have revolutionized the way transactions are conducted in India, bringing convenience, speed, and security to financial transactions. Overview of digital payments and UPI in India: 1. Digital Payments Landscape: India has witnessed a significant shift towards digital payments in recent years, driven by factors… Read More »
IFSC Codes FAQ’s on IFCS Codes 1. What is IFSC? Ans: IFSC, or Indian Financial System Code, is a unique alphanumeric code assigned to each bank branch in India. It is use to identify a specific branch in electronic fund transfer and other online transactions. 2. Why is IFSC important? Ans: IFSC is crucial for… Read More »
Form 15CA Form 15CA is a declaration form require by the Indian government for certain types of international transactions involving the transfer of money to non-resident individuals or entities. Here’s an explanation of Form 15CA: 1. Purpose: This is used to provide information about the remittance being made to a non-resident or foreign entity. It… Read More »
15CA definition Form 15CA is a declaration form required by the Indian government for certain remittances made by residents of India to non-residents. It is used to ensure that appropriate taxes deduct and pay to the government before the funds are transferred abroad. 15CA definition When an Indian resident makes a remittance to a… Read More »
Two-way invoice matching process The 2-way invoice matching process is a method used in accounting to ensure that the invoice amount matches the purchase order amount and the goods receipt amount. This process involves comparing the invoice received from a supplier with the purchase order and the goods receipt and ensuring that all three documents… Read More »
Invoice management Invoice management: is the process of handling and tracking the creation, processing, and payment of invoices within a business or organization. It involves various tasks such as generating invoices, sending them to customers, recording payments, and reconciling accounts. Effective invoice helps businesses to streamline their billing and payment processes, reduce errors… Read More »
E-payment certificate The e-payment certificate for property tax in Mumbai, India is an official document issue by the Municipal Corporation of Greater Mumbai (MCGM) to acknowledge the payment made for property tax. It serves as evidence of online payment made for property tax and contains essential details like the property owner’s name and address, property… Read More »
E-invoicing The e-invoicing system in India is an electronic invoicing mechanism designed to generate invoices for transactions conducted by businesses under the Goods and Services Tax (GST) regime. To Visit https://www.gst.gov.in/ The primary objective of the e-invoicing system is to reduce errors, minimize tax evasion, and simplify the tax filing process. The process involves generating… Read More »
Payments under the National Pension Scheme The National Pension System (NPS) is a pension system regulated by the Pension Fund Regulatory and Development Authority (PFRDA). It provides two types of accounts: Tier I and Tier II. To make payments under the National Pension Scheme, follow these steps: 1.Open an NPS account: Visit a Point of… Read More »