How to stay protected from needless taxes, penalties and prosecution
While starting up, businesses find it difficult to focus on issues related to accounting and taxation as they have other critical front office issues to handle as well in startup days. The idea is to have a plan to handle day to day accounting and taxation compliances and not get caught un-prepared.
Taxmantra.com in collaboration with YourStory.com is committed to the business eco-system in creating awareness with regard to mandatory taxation compliances, being the entrepreneurship eco-system relatively nascent in our country and taxation continues to be a black box for most entrepreneurs in India.
While there are both online resources as well as one-off panel discussions in conferences, there is no single comprehensive program that takes entrepreneurs through a deep dive into all aspects of taxation.
This workshop is specifically designed to be simple, intuitive and easy to understand. This workshop would basically cover “Tax Compliances which No Business Can Afford To Ignore”.
Key expected takeaways from this workshop
Income Tax Return Filing – When is Income Tax Return filing mandatory, and what are the consequences for non-filing of income tax returns.
Accounting – Are your accounting methods in compliance with the law requirement?
TDS Compliances- Do you know that the penal provisions for non-compliance of TDS provisions are so stringent that, they are itself enough to shut a business.
Service Tax Compliance- Are you covered under the service tax rules? Service tax authorities have now power to launch prosecution against defaulters; you would have heard high profile arrests recently in the media.
ROC Compliances- Annual and event based compliance for companies are required by the Registrar of Companies. Failing to comply with the said provisions attracts huge penalties, penal provisions and even strike-off.
Tax authorities of late has been very stringent, by sending tax notices to tax payers for host of reasons, which were never heard off in past, which further makes it paramount of importance to stay in compliances. Strictly talking from my professional experience, without naming any businesses, I know atleast half a dozen businesses on the verge on closure, as they face obnoxious tax demands from authorities.
To know more on the Taxation Workshop please refer to our previous article - http://yourstory.com/2014/02/yourstory-workshop-taxation-startups/
DATE: Friday, February 28 March
VENUE: YourStory Office, Indiranagar, Bangalore