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IEC Modification

Modify

For Import Export Code

Wish to modify any details on IEC Registration? Thinkbiz filings will help you do it seamlessly. Prices start at INR 1999/-only.

 
 
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IEC Modification

All you need to know

IEC expert from ThinkBiz Filings will help you update your details in Import Export Code Certificate within 24 hrs. It is essential to update every data of a company. That is, branch details, activity status like manufacture or merchant in the Import Export Code. If not done so, then there will be consequences during the import-export process due to the mismatch details in DGFT and customs. Almost everything is able to make modification IEC. Such as adding branch details, address change, change in PAN card number, a director change, deletion or addition of a partner, and so on.

What are the changes will be made in any IEC code modification+

  • Company address or registered office address.
  • Change in Company Name
  • Registered Branch details or add Branch
  • Addition / alteration/ deletion of partner or director for any partnership firm or private limited company.
  • Change in Business activities
  • Change in registered mobile number and email id.
  • Bank details update/modification

IEC Modification is required when you have mistakenly put information while applying for IE Code. You may need to modify details like email ID, contact number, office address etc. You may get in touch with our compliance manager on 09704561215or email info@Thinkbizfilings.com  for for free consultation.

 

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Compliance Requirements for a Partnership Firm

Income Tax Return

    Partnership firms must file annual tax returns. The due date is 31st July for non-audit cases and 30th September for audited firms. Timely filing ensures compliance, avoids penalties, and maintains legal standing.

    GST Compliances

      Partnership firms must register for GST if turnover exceeds the prescribed threshold. Regular GST return filing is mandatory to ensure compliance, avoid penalties, and maintain smooth business operations under GST laws.

      TDS Compliance

        Partnership firms must deduct and deposit Tax Deducted at Source (TDS) if liable under the Income Tax Act. Timely filing of TDS returns ensures compliance, avoids penalties, and maintains smooth financial operations.

        Accounting

          firms must maintain proper books of accounts reflecting an accurate and fair view of financial affairs. Each partner’s capital, withdrawals and profit share should be recorded separately to ensure transparency

          Tax Audit (if applicable)

            Required for partnership firms if business turnover exceeds ₹1 Cr or professional receipts surpass ₹50 Lakh under Section 44AB, ensuring regulatory compliance and accurate financial reporting.

            Firm Updates

              Partnerships must file updates on any changes in firm structure, such as partner additions, removals, or modifications to the partnership deed, ensuring legal compliance and transparency.

              Documents Required for Partnership Firms

              Quick Checklist

              • PAN card of all partners of the firm.
              • Aadhaar/Passport/Voter ID/Driving License of all partners.
              • Latest utility bill, rent agreement, or ownership proof of the firm’s office.
              • Latest bank statements of partners.
              • Recent photos of all partners.

              Key Benefits of a Partnership Firm

              Points to make your decision easy

              Ease of Formation

                Partnership firms have a straightforward registration process with minimal legal formalities, making them easy and cost-effective to establish.

                Tax Benefits

                  Partnership firms avoid double taxation, as profits are taxed only at the firm’s level and not again in the hands of partners, ensuring tax efficiency.

                  Lower Compliance

                    Partnership have fewer regulatory requirements and legal formalities compared to corporations, reducing administrative burdens and operational costs.

                    Decision-Making

                      Partnership firms enable quick decisions without extensive regulatory approvals, allowing for agile business operations and faster implementation of strategies.

                      Profit Sharing

                        Partners can distribute profits as per the agreed ratio in the partnership deed, allowing flexibility and mutual benefit in financial management.

                        No Minimum Capital

                          Partnership firms have no minimum capital requirement and can be registered even with Rs. 10,000 as total capital, providing flexibility in business setup.

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                          FAQs On IEC Modification
                          Get answers to all your queries
                          • IEC Modification refers to updating or correcting details in the Import Export Code (IEC) issued by the Directorate General of Foreign Trade (DGFT).
                          • You should modify your IEC in case of: ✅ Change in Business Name ✅ Change in Address ✅ Change in Bank Details ✅ Change in Directors/Partners ✅ Change in Nature of Business
                          • IEC modification is done online through the DGFT Portal (www.dgft.gov.in) under the "IEC Profile Management" section.
                          • Yes, a modification fee of ₹200 is applicable.
                          • Steps to Modify IEC: 1️⃣ Log in to the DGFT Portal using your credentials. 2️⃣ Click on "IEC Profile Management". 3️⃣ Select "Modify IEC" and update the required details. 4️⃣ Upload supporting documents (if required). 5️⃣ Pay the modification fee (₹200) online. 6️⃣ Submit the application and download the updated IEC.
                          • Depending on the modification type, the following documents may be required: ✅ For Business Name Change: GST Certificate, PAN, and MoA/AoA (for companies). ✅ For Address Change: New address proof (Electricity Bill, Rent Agreement, etc.). ✅ For Bank Details Change: Cancelled Cheque of the new account. ✅ For Director/Partner Change: Updated Partnership Deed, Board Resolution, etc.
                          • The IEC modification is usually updated within 2-3 working days after submission.
                          • Yes, any changes in business details must be updated in the IEC to avoid compliance issues.
                          • Yes, you should download and print the updated IEC certificate from the DGFT portal.
                          • Thinkbizfilings provides Proprietorship Registration all across India. You can obtain Proprietorship registration in Hyderabad, Vijayawada,Pune, Bangalore, Chennai, Delhi, Kolkata, or any other cities easily with us.
                          • Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@thinkbizfiling.com or call us @+91 970 456 1215

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