Power Of Factorial Business Solutions - Top Auditors & Tax Consultants.

 Unified Payments Interface (UPI) continues to revolutionize digital transactions in India, processing over 18 billion transactions worth ₹24.77 lakh crores in March 2025 alone. As usage surges, users must stay updated with the latest UPI transaction limits across banks, sectors, and payment types. Let’s dive deep into the updated UPI rules for 2025 , including new caps, specialized limits for sectors like education and healthcare, UPI Lite updates, and changes implemented by the NPCI (National Payments Corporation of India). What Is the Standard UPI Limit in 2025? As per NPCI guidelines, the default UPI daily limit is ₹1,00,000 per user per day. However, individual banks may impose lower or higher limits based on internal risk assessments and customer profiles. Standard UPI Daily Limit: ₹1 lakh Per Transaction Limit (for UPI 123Pay): ₹10,000 Max Transactions Allowed Per Day: 20 High-Value Transactions Allowed via UPI To support critical payments, UPI allows ...

 If you're a business owner in India, understanding and complying with GST (Goods and Services Tax) regulations isn’t just a legal necessity—it’s a business-smart move. GST registration provides credibility, access to formal markets, and financial benefits that can directly impact your growth and reputation. Many small businesses hesitate to register under GST, especially if their turnover is below the threshold. However, voluntary GST registration opens doors to opportunities that are otherwise inaccessible, such as serving corporate clients, listing on e-commerce platforms, and claiming Input Tax Credit (ITC). Let’s break down why GST registration matters. First and foremost, it gives your business legal recognition. Once registered, you receive a unique GSTIN (Goods and Services Tax Identification Number), which you can proudly display on invoices and documents. This not only builds trust with clients and vendors but also shows that your business is transparent and compliant ...

 When it comes to running a successful business, an accountant is not just an asset—they’re a necessity. From managing daily transactions to providing strategic insights, accountants wear many hats. In a rapidly evolving financial landscape, their responsibilities have expanded beyond just bookkeeping. Whether you run a startup, an MSME, or a large corporation, knowing what your accountant should handle is essential for compliance, growth, and sustainability. Let’s explore the top 10 key responsibilities of an accountant that every business owner should be aware of. 1. Accurate Financial Record Keeping The most fundamental duty of an accountant is to ensure all financial transactions are recorded accurately. This includes purchases, sales, receipts, and payments. These records form the backbone of financial reporting and are essential for audits, taxation, and performance analysis. 2. Preparing Financial Statements Accountants are responsible for generating the company’s core f...

 The financial year 2025-26 brings significant tax changes that impact individuals, businesses, and investors. From revised income tax slabs to updated TDS and TCS rules, these modifications will affect tax planning strategies. Here's a complete breakdown of the key updates effective from 1st April 2025 . 1. New Income Tax Slabs for FY 2025-26 The new income tax regime is now the default option, but taxpayers can still opt for the old regime by filing Form 10IEA . Below are the revised income tax slab rates : Up to ₹4 lakh – NIL ₹4 lakh – ₹8 lakh – 5% ₹8 lakh – ₹12 lakh – 10% ₹12 lakh – ₹16 lakh – 15% ₹16 lakh – ₹20 lakh – 20% ₹20 lakh – ₹24 lakh – 25% Above ₹24 lakh – 30% The standard deduction has also been revised: Old Regime : ₹50,000 New Regime : ₹75,000 Additionally, Section 87A rebate has been modified: Old Regime : Rebate of ₹12,500 for eligible taxpayers New Regime : Rebate of ₹60,000 for incomes up to ₹12 lakh 2. Capit...

 Expanding your business beyond domestic boundaries is a great way to tap into new markets and increase profitability. However, before you start trading internationally, obtaining an Import & Export License is a crucial requirement. In India, this license is referred to as the Import Export Code ( IEC) and is issued by the Directorate General of Foreign Trade (DGFT) . This guide will walk you through the importance, process, and benefits of IEC registration. What is an Import & Export License? An Import & Export License is a legal document required for businesses to trade goods and services across international borders. It serves as an identification number for importers and exporters, ensuring smooth transactions and compliance with trade laws. In India, the IEC (Import Export Code) is a unique 10-digit number assigned by DGFT, and it is mandatory for anyone engaging in cross-border trade. Without this code, customs clearance and foreign trade-related banking tr...

 Paying taxes is essential, but what if you've paid more than required? The Indian Income Tax Department allows taxpayers to claim a refund for excess tax paid. However, many people are unaware of how to maximize their refund or avoid delays. This blog will guide you through the process of claiming an income tax refund, the interest applicable on delayed refunds, and common mistakes to avoid. What is an Income Tax Refund? An income tax refund is the excess tax amount that the government repays to taxpayers who have overpaid during the financial year. Refunds can occur due to: TDS (Tax Deducted at Source) being higher than your actual tax liability Advance tax payments exceeding the required amount Deductions and exemptions that lower your taxable income Double taxation relief when paying taxes in multiple countries If any of these apply to you, filing your Income Tax Return (ITR) correctly and on time is the key to claiming your refund. How to Claim an Income Tax...