Yes, building features is challenging.
But what’s trickier?
Navigating legal and tax hurdles.
Take Section 194-O of the Income Tax Act.
It sounds dry, but it’s crucial.
When you sell on an e-commerce platform here, platforms can deduct TDS (Tax Deducted at Source) from your payout.
Here’s a quick breakdown:
– The rate of TDS is 1% of your gross sales through the platform.
– TDS kicks in when your sales exceed ₹5 lakhs in a financial year.
– For individuals or HUFs, under ₹5 lakhs, no TDS.
– The platform deducts TDS before it transfers your money.
– Exemptions? If you provide a declaration or are a non-individual, you might still face TDS even below ₹5 lakhs.
Building multi-vendor e-commerce isn’t just about coding.
It’s understanding these intricacies.
At SparxIT , we make it simple. Our in-house SPXCommerce handles these complexities for you. It’s designed to streamline both features and compliance.
Imagine focusing on your business, not on tax headaches.
So, the next time you’re setting up an e-commerce platform in India, remember:
– It’s not just tech; it’s also legal.
– With the right partner, it doesn’t have to be a hassle.
We’ve got the tech, and we understand the laws. Let’s make e-commerce easy together.
Got questions or need help? Let’s connect!
