Saving Mantra Blogs

Author: Financial Analyst

  • Ecommerce Seller Accounting in Zoho: Complete Guide

    Ecommerce sellers in India deal with complex accounting due to GST, marketplace commissions, returns, TDS, and TCS deductions. Proper ecommerce seller accounting in Zoho helps maintain accurate records, ensure compliance, and improve profitability.

    This Saving Mantra guide explains how ecommerce sellers can manage accounting efficiently using Zoho Books.

    Why Use Zoho for Ecommerce Seller Accounting

    Zoho Books is a powerful cloud-based accounting software designed for Indian GST compliance.

    Benefits include:

    • Automated GST calculations
    • Marketplace-wise sales tracking
    • Easy reconciliation of settlements
    • Real-time financial reports
    • Seamless integration with ecommerce platforms

    Zoho simplifies accounting for growing ecommerce businesses.

    Popular Ecommerce Marketplaces Managed in Zoho

    Ecommerce sellers commonly use Zoho Books to manage accounting for:

    • Amazon
    • Flipkart
    • Meesho
    • Paytm
    • Myntra

    Each marketplace follows a net settlement model, which must be recorded correctly.

    Recording Ecommerce Sales in Zoho

    Sales Invoices

    • Record gross sales value
    • Apply correct GST rate and HSN
    • Create marketplace as customer

    Marketplace Charges

    • Commission and referral fees
    • Shipping and logistics charges
    • Payment gateway fees
    • Reverse GST on commission (RCM where applicable)

    TDS and TCS Accounting in Zoho

    TDS under Section 194-O

    • Deducted by marketplace
    • Recorded as TDS receivable
    • Reconciled with Form 26AS

    GST TCS

    • Collected by ecommerce operator
    • Shown separately in Zoho
    • Adjusted in GST returns

    Settlement Reconciliation in Zoho

    Zoho Books enables:

    • Matching settlement reports with invoices
    • Adjusting returns, refunds, and penalties
    • Identifying short payments
    • Accurate month-end closing

    Regular reconciliation avoids GST mismatches and tax notices.

    Handling Returns and Refunds

    Returns are recorded using:

    • Credit notes
    • Automatic GST reversal
    • Settlement adjustment

    Correct handling ensures accurate sales and tax figures.

    GST Returns Using Zoho Data

    With proper entries, Zoho Books helps:

    • File accurate GSTR-1
    • Match GSTR-3B liability
    • Reconcile GSTR-2B
    • Reduce chances of GST notices

    How Saving Mantra Helps Ecommerce Sellers

    Saving Mantra provides expert Zoho accounting services for ecommerce sellers, including:

    • Zoho Books setup and configuration
    • Marketplace-wise ledger creation
    • GST, TDS, and TCS reconciliation
    • Monthly accounting and compliance
    • Advisory and audit support

    We help ecommerce sellers stay compliant and profitable.

    Conclusion

    Ecommerce seller accounting in Zoho requires proper configuration and disciplined reconciliation. With accurate accounting, sellers can ensure compliance, avoid penalties, and make better business decisions. Saving Mantra simplifies ecommerce accounting in Zoho so you can focus on growth.

    Disclaimer

    This blog is for informational purposes only and does not constitute accounting, tax, or professional advice. Accounting treatment may vary based on business model, marketplace policies, and applicable laws. Readers are advised to consult qualified professionals before implementation.

  • Term Life Insurance in India Explained

    What Is Insurance?

    Insurance is a financial arrangement where an individual pays a fixed amount called a premium to an insurance company. In return, the insurer provides financial protection against unexpected events such as death, illness, accident, or loss.

    In India, insurance helps families:

    • Manage financial risks
    • Protect dependents from income loss
    • Handle emergencies without selling assets
    • Maintain long-term financial stability

    What Is Life Insurance Term Plan?

    A Life Insurance Term Plan is the simplest and most affordable form of life insurance. It provides pure risk cover for a specific period called the policy term.

    • If the policyholder dies during the term, the sum assured is paid to the nominee
    • If the policyholder survives the term, no maturity benefit is paid

    Because term plans focus only on protection and not savings or investment, they offer high life cover at low premiums.

    Importance of Term Insurance in Indian Context

    Term insurance is extremely important in India because:

    • Many households depend on a single earning member
    • Education, healthcare, and living costs are rising
    • Home loans and personal loans are common
    • Social security benefits are limited

    A term plan ensures your family can repay loans, meet daily expenses, and achieve future goals even in your absence.

    How Many Insurance Companies Offer Life Insurance in India?

    As regulated by the Insurance Regulatory and Development Authority of India (IRDAI):

    • 24 Life Insurance Companies operate in India
      • 1 Public Sector Insurer – Life Insurance Corporation of India (LIC)
      • 23 Private Life Insurance Companies

    All these insurers offer term insurance plans with different coverage options, premium structures, and rider benefits.

    Key Features of Term Life Insurance

    • High life cover at affordable premium
    • Flexible policy tenure
    • Multiple payout options (lump sum or monthly income)
    • Optional riders like accidental death benefit
    • Easy online purchase with minimal documentation

    Tax Benefits of Term Insurance in India

    Section 80C – Premium Deduction

    • Premium paid is eligible for tax deduction up to ₹1.5 lakh per year
    • Available for self, spouse, and children

    Section 10(10D) – Tax-Free Death Benefit

    • Death benefit received by nominee is fully tax-free
    • No maximum limit on exemption

    Section 80D – Additional Benefit

    • Extra tax deduction if health or critical illness rider is included

    Who Should Buy a Term Insurance Plan?

    • Salaried professionals
    • Business owners and self-employed individuals
    • Parents with dependent children
    • Individuals with home or personal loans
    • NRIs with families dependent in India

    How Much Term Insurance Cover Is Ideal?

    A commonly used guideline:

    10 to 15 times your annual income

    The right cover should also consider:

    • Existing loans and liabilities
    • Monthly family expenses
    • Children’s education and future needs
    • Inflation impact

    Why Choose Saving Mantra for Term Insurance?

    Saving Mantra helps you:

    • Compare term plans across multiple insurers
    • Choose the right coverage and policy term
    • Understand tax benefits clearly
    • Avoid mis-selling
    • Get expert claim support assistance

    Conclusion

    A life insurance term plan is the foundation of financial protection in India. It is affordable, easy to understand, and ensures your family’s financial security. Buying a term plan early helps secure lower premiums and long-term peace of mind.

    Disclaimer

    This content is for informational purposes only and should not be considered insurance or tax advice. Policy features, premiums, and tax benefits are subject to change as per insurer terms and applicable laws. Saving Mantra recommends reading policy documents carefully or consulting a qualified advisor before purchasing any insurance policy.

  • Ecommerce Seller Accounting in Tally: Complete Guide

    Ecommerce sellers in India face complex accounting challenges due to GST, marketplace commissions, TDS, and TCS deductions. Proper ecommerce seller accounting in Tally is essential for accurate books, compliance, and profitability.

    This Saving Mantra guide explains how ecommerce sellers can manage accounting in Tally effectively.

    Why Ecommerce Accounting in Tally Is Important

    Tally helps ecommerce sellers:

    • Maintain GST-compliant books
    • Track marketplace-wise sales
    • Record commission, shipping, and penalties
    • Reconcile settlements with marketplaces
    • Prepare accurate tax returns

    Without proper accounting, sellers may face GST mismatches and income tax notices.

    Common Ecommerce Marketplaces Covered in Tally

    Ecommerce sellers usually operate on:

    • Amazon
    • Flipkart
    • Meesho
    • Paytm
    • Myntra

    Each marketplace follows a settlement-based payment system, which must be correctly recorded in Tally.

    Accounting Treatment of Ecommerce Sales in Tally

    Sales Entry

    • Record gross sales invoice
    • Apply correct GST rate and HSN
    • Create marketplace as debtor

    Commission & Charges Entry

    • Marketplace commission
    • Shipping & packaging charges
    • Payment gateway fees
    • Reverse GST on commission (RCM where applicable)

    TDS and TCS Accounting in Tally

    TDS (Section 194-O)

    • Deducted by marketplace
    • Shown as receivable in Tally
    • Reconciled with Form 26AS

    TCS under GST

    • Collected by marketplace
    • Recorded separately
    • Adjusted in GST returns

    Settlement and Reconciliation Process

    Ecommerce sellers receive net settlements after deductions.

    Proper reconciliation includes:

    • Matching settlement reports with sales invoices
    • Adjusting commission, returns, and penalties
    • Verifying GST, TDS, and TCS deductions
    • Identifying mismatches and short payments

    Regular reconciliation ensures accurate financial reporting.

    Handling Returns and Refunds in Tally

    Returns must be:

    • Recorded through credit notes
    • GST reversed correctly
    • Adjusted in settlement reconciliation

    Incorrect return accounting may lead to GST mismatches.

    GST Returns from Tally Data

    With proper entries, sellers can:

    • File GSTR-1 accurately
    • Match GSTR-3B liabilities
    • Reconcile GSTR-2B
    • Avoid GST notices

    Tally becomes a strong compliance tool for ecommerce sellers.

    How Saving Mantra Helps Ecommerce Sellers

    Saving Mantra offers specialized accounting support for ecommerce sellers, including:

    • Tally setup for ecommerce accounting
    • Marketplace-wise ledger configuration
    • GST, TDS, and TCS reconciliation
    • Monthly accounting and return filing
    • Compliance and audit support

    We ensure accurate books and stress-free compliance.

    Conclusion

    Ecommerce seller accounting in Tally requires a structured approach to handle GST, marketplace deductions, and settlements. Proper accounting helps avoid tax notices and improves business decision-making. With expert assistance from Saving Mantra, ecommerce accounting becomes simple, accurate, and compliant.

    Disclaimer

    This blog is for informational purposes only and does not constitute accounting, tax, or professional advice. Accounting treatment may vary based on business model and marketplace policies. Readers are advised to consult qualified professionals before implementation.

  • Term Life Insurance in India: Simple Guide

    What Is Insurance?

    Insurance is a financial safety arrangement where an individual pays a fixed amount called a premium to an insurance company. In return, the insurer promises financial support if a specific risk occurs, such as death, illness, accident, or loss.

    In India, insurance helps people:

    • Protect their family’s financial future
    • Manage unexpected life risks
    • Reduce financial stress during emergencies
    • Create long-term financial security

    What Is Life Insurance Term Plan?

    A Life Insurance Term Plan is the most basic and affordable form of life insurance. It provides pure life cover for a specific period, known as the policy term.

    • If the policyholder dies during the policy term, the sum assured is paid to the nominee
    • If the policyholder survives the term, no maturity benefit is paid

    Because term plans focus only on protection and not savings or investment, they offer high coverage at low premium.

    Importance of Term Insurance in Indian Context

    Term insurance is extremely important in India because:

    • Many households depend on a single earning member
    • Education, healthcare, and living costs are rising
    • Home loans and personal loans are common
    • Government social security benefits are limited

    A term plan ensures that your family can continue their lifestyle, repay loans, and meet future expenses even in your absence.

    How Many Companies Offer Life Insurance in India?

    As regulated by the Insurance Regulatory and Development Authority of India (IRDAI):

    • 24 Life Insurance Companies operate in India
      • 1 Public sector company – Life Insurance Corporation of India (LIC)
      • 23 Private life insurance companies

    All these insurers offer different types of term insurance plans with features like fixed cover, increasing cover, and optional riders.

    Key Features of Term Life Insurance

    • High life cover at affordable premium
    • Flexible policy term
    • Choice of payout options
    • Optional riders like accidental death benefit
    • Online purchase with simple documentation
    • Suitable for salaried, self-employed, and NRIs

    Tax Benefits of Term Insurance in India

    Section 80C – Tax Deduction on Premium

    • Premium paid is eligible for deduction up to ₹1.5 lakh per year
    • Available for self, spouse, and children

    Section 10(10D) – Tax-Free Death Benefit

    • Death benefit received by nominee is fully tax-free
    • No upper limit on exemption

    Section 80D – Additional Benefit

    • Extra tax benefit if health or critical illness rider is included

    Who Should Buy a Term Insurance Plan?

    • Salaried professionals
    • Business owners and freelancers
    • Parents with dependent children
    • Individuals with home or personal loans
    • NRIs supporting families in India

    How Much Term Insurance Cover Is Enough?

    A commonly followed rule:

    10–15 times your annual income

    However, the ideal cover depends on:

    • Existing loans and liabilities
    • Monthly family expenses
    • Children’s education and marriage goals
    • Inflation and long-term needs

    Why Buy Term Insurance Through Saving Mantra?

    Saving Mantra helps you:

    • Compare policies from multiple insurers
    • Choose the right coverage amount
    • Understand policy terms clearly
    • Maximize tax benefits
    • Get expert support during claim settlement

    Conclusion

    A life insurance term plan is the foundation of financial protection in India. It is affordable, simple to understand, and ensures your loved ones are financially secure. Buying a term plan early helps lock in lower premiums and long-term peace of mind.

    Disclaimer

    This article is for informational purposes only and should not be treated as professional insurance or tax advice. Policy features, premiums, and tax benefits are subject to change as per insurer terms and applicable laws. Saving Mantra recommends reading policy documents carefully or consulting a qualified advisor before purchasing any insurance policy.

  • Life Insurance Term Plan in India Explained

    What Is Insurance?

    Insurance is a financial arrangement where a person pays a fixed amount called a premium to an insurance company. In return, the insurer provides financial protection against unexpected events such as death, illness, accident, or loss.

    In India, insurance helps individuals and families:

    • Manage financial risks
    • Protect dependents
    • Secure long-term financial stability
    • Handle emergencies without exhausting savings

    What Is Life Insurance Term Plan?

    A Life Insurance Term Plan is the simplest and most affordable form of life insurance. It provides pure life cover for a fixed period (called the policy term).

    • If the policyholder dies during the policy term, the sum assured is paid to the nominee
    • If the policyholder survives the term, no maturity amount is paid

    Because it focuses only on protection and not investment, term insurance offers high coverage at low premium.

    Importance of Term Insurance in Indian Context

    Term insurance is especially important in India due to:

    • Dependence on a single earning member in many families
    • Rising costs of education, healthcare, and housing
    • Increasing home loans and personal liabilities
    • Limited government-backed social security

    A term plan ensures your family can maintain their lifestyle and meet financial goals even in your absence.

    How Many Insurance Companies Offer Term Insurance in India?

    As per the Insurance Regulatory and Development Authority of India (IRDAI):

    • 24 Life Insurance Companies operate in India
      • 1 Public sector insurer – Life Insurance Corporation of India (LIC)
      • 23 Private life insurance companies

    All these insurers offer multiple term insurance plans with options such as:

    • Level cover
    • Increasing cover
    • Decreasing cover
    • Return of premium plans
    • Optional riders

    Key Features of Life Insurance Term Plans

    • High life cover at affordable premium
    • Flexible policy tenure
    • Choice of payout options (lump sum or monthly income)
    • Riders like accidental death and critical illness
    • Easy online purchase
    • Minimal documentation

    Tax Benefits of Term Insurance in India

    1. Tax Deduction on Premium – Section 80C

    • Premium paid is eligible for deduction up to ₹1.5 lakh per year
    • Applicable for self, spouse, and children

    2. Tax-Free Death Benefit – Section 10(10D)

    • Death benefit received by nominee is completely tax-free
    • No maximum limit on exemption

    3. Additional Deduction – Section 80D

    • If health or critical illness riders are included, additional tax benefits may be available

    Who Should Buy a Term Insurance Plan?

    • Salaried employees
    • Business owners and professionals
    • Parents with dependent children
    • Individuals with home or personal loans
    • NRIs with financial dependents in India

    How Much Term Insurance Cover Is Ideal?

    A general rule:

    10 to 15 times your annual income

    However, the exact cover should be based on:

    • Existing loans and liabilities
    • Family’s monthly expenses
    • Children’s education needs
    • Long-term financial goals

    Why Choose Saving Mantra for Term Insurance?

    Saving Mantra helps you:

    • Compare term plans from multiple insurers
    • Select the right coverage and policy term
    • Maximize tax benefits
    • Avoid policy mis-selling
    • Get expert assistance during claims

    Conclusion

    A life insurance term plan is the foundation of financial protection in India. It is affordable, easy to understand, and ensures your loved ones are financially secure even when you are not around. Buying early helps lock lower premiums and long-term peace of mind.

    Disclaimer

    This blog is for informational purposes only and does not constitute insurance advice. Policy features, benefits, premiums, and tax provisions are subject to change as per insurer terms and applicable laws. Saving Mantra recommends reading policy documents carefully or consulting a qualified advisor before making a purchase.

  • Life Insurance Term Plan: Complete Guide in India

    What Is Insurance?

    Insurance is a financial protection mechanism where an individual pays a small amount called premium to an insurance company. In return, the insurer provides financial compensation in case of unforeseen events such as death, accident, illness, or loss.

    In India, insurance plays a vital role in:

    • Family financial security
    • Income replacement
    • Risk management
    • Long-term financial planning

    What Is Life Insurance Term Plan?

    A Term Life Insurance Plan is a pure protection policy. It provides a large life cover at an affordable premium for a fixed period (policy term).

    If the policyholder dies during the policy term:

    • The sum assured is paid to the nominee

    If the policyholder survives the term:

    • No maturity benefit is paid (unless return-of-premium plan is chosen)

    Why Term Insurance Is Important in India

    In the Indian context, term insurance is essential because:

    • Many families depend on a single earning member
    • Rising costs of education, healthcare, and housing
    • Increasing home loans and personal liabilities
    • Limited social security support

    A term plan ensures your family can:

    • Repay loans
    • Maintain lifestyle
    • Fund children’s education
    • Manage daily expenses

    How Many Insurance Companies Offer Term Insurance in India?

    As per the Indian insurance ecosystem:

    • 24 Life Insurance Companies are registered in India
      • 1 Public sector insurer (LIC of India)
      • 23 Private life insurance companies

    All these insurers offer various term insurance plans with different features such as:

    • Fixed cover
    • Increasing cover
    • Decreasing cover
    • Return of premium
    • Riders like accidental death and critical illness

    Key Features of Term Insurance Plans

    • High life cover at low premium
    • Flexible policy term
    • Multiple payout options (lump sum / monthly)
    • Rider benefits available
    • Online purchase with minimal paperwork
    • Tax benefits under Income Tax Act

    Tax Benefits of Term Insurance in India

    1. Tax Deduction on Premium – Section 80C

    • Premium paid is eligible for deduction up to ₹1.5 lakh per year
    • Applicable for self, spouse, and children

    2. Tax-Free Death Benefit – Section 10(10D)

    • Death benefit received by nominee is completely tax-free
    • No upper limit on exemption

    3. Additional Deduction – Section 80D

    • If health or critical illness rider is included, additional deduction may apply

    Who Should Buy a Term Insurance Plan?

    • Salaried professionals
    • Business owners
    • Self-employed individuals
    • Parents with dependent children
    • Home loan borrowers
    • NRIs earning in India or abroad

    How Much Term Insurance Cover Is Ideal?

    A commonly recommended formula:

    Life Cover = 10–15 times annual income

    However, the right cover depends on:

    • Current income
    • Liabilities (loans, EMIs)
    • Family expenses
    • Future goals

    Why Buy Term Insurance Through Saving Mantra?

    Saving Mantra helps you:

    • Compare plans across insurers
    • Choose the right cover amount
    • Optimize tax benefits
    • Avoid mis-selling
    • Get claim support assistance

    Our experts ensure your policy fits your financial goals and family needs.

    Conclusion

    A life insurance term plan is the foundation of financial planning in India. It is affordable, simple, and provides strong protection to your loved ones. Buying early ensures lower premiums and long-term peace of mind.

    Disclaimer

    The information provided above is for educational and informational purposes only. Insurance benefits, tax provisions, and eligibility are subject to change as per applicable laws and insurer policy terms. Saving Mantra does not guarantee policy approval or claim settlement. Please read all policy documents carefully or consult a qualified insurance advisor before purchasing.

  • No Permanent Establishment Rules for Global Sellers

    With the rise of cross-border trade and digital commerce, many international sellers supply goods or services to India without having a physical presence. Understanding the concept of No Permanent Establishment (No PE) is critical to determine tax liability and compliance obligations in India.

    This Saving Mantra guide explains No Permanent Establishment in simple terms for global sellers.

    What is Permanent Establishment (PE)?

    Permanent Establishment refers to a fixed place of business through which a foreign enterprise conducts its business activities in another country. The concept is defined under:

    • Income Tax Act, 1961
    • Double Taxation Avoidance Agreements (DTAA)

    If a foreign seller has no PE in India, its business profits are generally not taxable in India.

    What Does “No Permanent Establishment” Mean?

    “No Permanent Establishment” means:

    • No physical office, branch, or factory in India
    • No dependent agent concluding contracts in India
    • No fixed place of business through which operations are carried out

    International sellers operating entirely from outside India may qualify as No PE entities.

    Examples of No Permanent Establishment

    International sellers may not create PE if they:

    • Sell goods online from outside India
    • Provide digital services without physical presence
    • Use independent agents in India
    • Store goods temporarily for delivery (subject to conditions)

    Each case must be evaluated carefully.

    Tax Implications for No PE International Sellers

    If No PE exists:

    • Business profits are not taxable in India
    • No requirement to file Indian income tax returns (in most cases)
    • Payments may still attract withholding tax, Equalization Levy, or GST depending on the transaction

    No PE vs Equalization Levy

    Even without PE:

    • Digital advertising and e-commerce services may attract Equalization Levy
    • Levy applies irrespective of physical presence
    • Separate compliance and reporting requirements apply

    Understanding this distinction is crucial for international sellers.

    Common Mistakes Leading to PE Risk

    • Appointing dependent agents in India
    • Concluding contracts through Indian representatives
    • Maintaining stock or warehouses beyond permitted limits
    • Long-term project activities in India

    These activities may unintentionally create a Permanent Establishment.

    How Saving Mantra Helps International Sellers

    Saving Mantra offers expert support for cross-border sellers, including:

    • PE risk analysis under Indian tax laws and DTAA
    • Advisory on No PE structuring
    • Equalization Levy and withholding tax compliance
    • Documentation and representation support
    • Ongoing international tax advisory

    We help global sellers remain compliant while minimizing tax exposure.

    Conclusion

    The concept of No Permanent Establishment plays a vital role in determining tax liability for international sellers doing business with India. Proper understanding, structuring, and compliance help avoid unexpected tax demands and penalties. With professional guidance from Saving Mantra, global sellers can operate confidently in the Indian market.

    Disclaimer

    This blog is for informational purposes only and does not constitute legal, tax, or professional advice. Permanent Establishment determination depends on facts, agreements, and applicable DTAA provisions. Readers are advised to consult qualified tax professionals before making decisions.

  • Equalization Levy in India: Complete Compliance Guide

    With the rapid growth of the digital economy, India introduced the Equalization Levy to tax payments made to non-resident digital service providers. Businesses dealing with foreign digital platforms must understand and comply with Equalization Levy provisions to avoid penalties.

    This Saving Mantra guide explains Equalization Levy in simple terms, covering applicability, rates, and compliance requirements.

    What is Equalization Levy?

    Equalization Levy is a direct tax introduced by the Indian government on specified digital services provided by non-resident companies without a permanent establishment in India. It ensures tax parity between Indian and foreign digital service providers.

    The levy is governed by the Finance Act, 2016 and subsequent amendments.

    Types of Equalization Levy in India

    1. Equalization Levy @ 6%

    Applicable on payments made to non-resident service providers for:

    • Online advertising
    • Digital marketing services
    • Provision of digital advertising space

    The levy is deducted by the Indian payer at the time of payment.

    2. Equalization Levy @ 2%

    Applicable on e-commerce supply or services provided by non-resident e-commerce operators to:

    • Indian residents
    • Users with Indian IP address

    This levy is paid directly by the non-resident e-commerce operator.

    Who is Required to Pay Equalization Levy?

    Equalization Levy applies to:

    • Indian businesses making payments to foreign digital service providers
    • Non-resident e-commerce operators supplying goods or services to India

    However, it does not apply if the non-resident has a permanent establishment in India.

    Threshold Limit for Equalization Levy

    • 6% levy applies only if annual payment exceeds ₹1 lakh to a non-resident service provider
    • 2% levy applies if e-commerce operator’s annual turnover from India exceeds ₹2 crore

    Due Date for Equalization Levy Payment

    • Levy must be deposited by the 7th day of the following month
    • Annual statement in Form 1 must be filed on or before 30th June of the next financial year

    Late payment attracts interest and penalties.

    Penalty for Non-Compliance

    Non-compliance may result in:

    • Interest at 1% per month on delayed payment
    • Penalty equal to the amount of levy
    • Additional penalty for late filing of statements

    Proper compliance is essential to avoid unnecessary financial burden.

    Equalization Levy vs GST

    • Equalization Levy is not GST
    • GST applies to supply of services, while Equalization Levy applies to payments to non-residents
    • Both can apply separately depending on transaction nature

    Understanding the distinction helps in correct tax planning.

    How Saving Mantra Helps with Equalization Levy Compliance

    Saving Mantra provides complete support for Equalization Levy compliance, including:

    • Applicability analysis
    • Levy calculation and payment
    • Filing of Form 1
    • Advisory on cross-border digital transactions
    • Ongoing compliance management

    We ensure your business stays compliant and penalty-free.

    Conclusion

    Equalization Levy plays a crucial role in taxing digital transactions involving non-resident service providers. Businesses dealing with online advertising or foreign e-commerce platforms must understand its applicability and comply on time. With expert guidance from Saving Mantra, Equalization Levy compliance becomes simple and stress-free.

    Disclaimer

    This blog is for informational purposes only and does not constitute legal, tax, or professional advice. Provisions relating to Equalization Levy are subject to change based on amendments in tax laws. Readers are advised to consult qualified tax professionals before taking any action.

  • Paytm Seller Registration Guide for Indian Sellers

    Selling on Paytm Marketplace enables Indian businesses to reach a vast online customer base. To sell legally and smoothly, sellers must complete Paytm seller registration and follow mandatory tax and marketplace compliance requirements.

    This Saving Mantra blog explains the Paytm seller registration process clearly and step by step.

    What is Paytm Seller Registration?

    Paytm Seller Registration is the official process of enrolling individuals or businesses on Paytm Marketplace to list and sell products. The process includes verification of business details, GST validation, bank account linking, and seller profile approval.

    Eligibility for Paytm Seller Registration

    You can register as a Paytm seller if you are:

    • Individual / Sole Proprietor
    • Partnership Firm
    • LLP or Private Limited Company

    Valid tax and banking details are mandatory for approval.

    Documents Required for Paytm Seller Registration

    To complete Paytm seller registration, you need:

    • PAN Card (Individual or Business)
    • GST Registration Certificate
    • Active Bank Account
    • Business Address Proof
    • Email ID and Mobile Number
    • Cancelled Cheque
    • Signature or Digital Signature (if applicable)

    GST Requirements for Paytm Sellers

    GST registration is mandatory for selling on Paytm.

    Key GST obligations:

    • Correct GST registration type
    • Accurate HSN codes and GST rates
    • GST-compliant tax invoices
    • Timely filing of GSTR-1 and GSTR-3B
    • Reconciliation of TCS collected by Paytm

    Step-by-Step Paytm Seller Registration Process

    1. Visit Paytm Seller Portal
    2. Sign up using email and mobile number
    3. Enter business and GST details
    4. Upload required documents
    5. Complete bank account verification
    6. List products and start selling

    Once approved, your Paytm seller account becomes active.

    Paytm Seller Fees and Charges

    Paytm may charge sellers for:

    • Category-wise commission
    • Payment gateway charges
    • Shipping and logistics costs
    • Promotional or service fees

    Understanding charges helps sellers price products profitably.

    Common Mistakes During Paytm Seller Registration

    • Incorrect GST or PAN details
    • Wrong bank account information
    • Incomplete document uploads
    • Selecting incorrect product categories

    Avoiding these mistakes ensures faster approval.

    How Saving Mantra Helps with Paytm Seller Registration

    Saving Mantra offers end-to-end assistance for Paytm sellers, including:

    • GST registration and validation
    • Paytm seller account setup
    • Documentation and compliance support
    • Return filing and tax advisory
    • Ongoing business consulting

    We simplify Paytm seller registration so you can focus on growth.

    Conclusion

    Paytm seller registration is the foundation for building a successful online business on Paytm. With correct documentation, GST compliance, and expert guidance, sellers can start selling smoothly. Saving Mantra ensures a hassle-free registration process and long-term compliance support.

    Disclaimer

    This blog is for informational purposes only and does not constitute legal, tax, or professional advice. Registration requirements and marketplace policies may change as per Paytm rules and government regulations. Readers are advised to consult qualified professionals before taking any action.

  • Flipkart Seller Registration Guide for Indian Sellers

    Selling on Flipkart offers Indian businesses access to millions of online customers. To start selling legally and smoothly, sellers must complete Flipkart seller registration and comply with mandatory tax and marketplace requirements.

    This Saving Mantra blog explains Flipkart seller registration in a simple, step-by-step manner.

    What is Flipkart Seller Registration?

    Flipkart Seller Registration is the official process through which individuals or businesses register on Flipkart Marketplace to list and sell products. The process includes verification of business details, GST validation, bank account linking, and compliance checks.

    Eligibility for Flipkart Seller Registration

    You can register as a Flipkart seller if you are:

    • Individual / Sole Proprietor
    • Partnership Firm
    • LLP or Private Limited Company

    Valid tax and banking details are mandatory.

    Documents Required for Flipkart Seller Registration

    To complete Flipkart seller registration, you need:

    • PAN Card (Individual or Business)
    • GST Registration Certificate
    • Active Bank Account
    • Business Address Proof
    • Email ID and Mobile Number
    • Cancelled Cheque
    • Signature / Digital Signature (if applicable)

    GST Requirements for Flipkart Sellers

    GST registration is mandatory for selling on Flipkart.

    Key GST obligations:

    • Correct GST registration type
    • Accurate HSN codes and GST rates
    • GST-compliant invoices
    • Timely filing of GSTR-1 and GSTR-3B
    • Reconciliation of TCS collected by Flipkart

    Step-by-Step Flipkart Seller Registration Process

    1. Visit Flipkart Seller Hub
    2. Sign up using email and mobile number
    3. Enter business and GST details
    4. Upload required documents
    5. Complete bank account verification
    6. List products and start selling

    Once verified, your seller account becomes active.

    Flipkart Seller Fees and Charges

    Flipkart charges sellers for:

    • Category-wise referral fees
    • Fixed or closing fees
    • Shipping and logistics charges
    • Fulfilment fees (if applicable)

    Understanding fees helps in correct pricing and higher profits.

    Common Mistakes During Flipkart Seller Registration

    • Incorrect GST details
    • Wrong bank account information
    • Incomplete documentation
    • Selecting incorrect product categories

    Avoiding these mistakes ensures faster approval.

    How Saving Mantra Helps with Flipkart Seller Registration

    Saving Mantra provides end-to-end support for Flipkart sellers, including:

    • GST registration and validation
    • Flipkart seller account setup
    • Documentation and compliance support
    • Return filing and tax advisory
    • Ongoing business consulting

    We make Flipkart seller registration simple and stress-free.

    Conclusion

    Flipkart seller registration is the first step toward building a successful online business. With proper documentation, GST compliance, and expert guidance, sellers can start selling smoothly. Saving Mantra ensures a hassle-free registration experience so you can focus on growth.

    Disclaimer

    This blog is for informational purposes only and does not constitute legal, tax, or professional advice. Registration requirements and policies may change as per Flipkart marketplace rules and government regulations. Readers are advised to consult qualified professionals before taking any action.