Enter your email below and we will send you a reset link.
Alok Patnia founded Taxmantra.com to understand and address the pain points of individuals, businesses and startups. He is an expert in handling taxation issues, has great insights on the business startup issues such as choosing right business entity and also has vast experience in the field of business maintenance services such as accounting, auditing, company law compliances, service tax and other related fields. He is a qualified Chartered Accountant and a commerce bachelor from St. Xavier’s College having post qualification exposure with Ernst and Young and KPMG at Bangalore.
If you are a business owner, September 30 and October 30 are two important dates for you. September 30 is the due date for filing the Income Tax Return for your company, whereas October 30 is the due date for filing the annual financial statements with the Registrar of Companies (RoC). They are more crucial […]
11 Sep 2015
The journey from a term sheet to a shareholding agreement is exactly the same as that from betrothal to marriage. The deal is on the moment you sign a term sheet with the investor. However, the deal is only consummated once you sign a shareholding agreement with them. In the course of this journey, there […]
13 Aug 2015
“Is it better for startups to opt for an LLP instead of a private limited?” “Doomsday for private limited companies!” “Draconian Companies Act 2013 makes life for private limited companies a bed of thorns!”“Startups…forget about private limited, LLP is the next big thing!”Even a few months back, consultants were advising startups against registering a private […]
25 Jun 2015
Tax deducted at source (TDS) seems like a simpleconcept. Due to its applicability ineveryday life, we have started taking its related provisions for granted. However, while we are aware of a few of the basic provisions, we mostly ignore the consequences of these provisions. We all know that little knowledge is very dangerous, but we […]
08 Jun 2015
E-commerce companies and, especially, e-traders are facing a global problem of incurring huge losses. In India and globally, e-commerce companies have been trading at suicidal prices; they’re targeting to build their customer base and develop their infrastructure and logistics. These companies are involved in furious price wars, selling at rock bottom prices to attract more […]
23 Feb 2015
The finance minister Mr. Arun Jaitley is going to present his maiden budget on 10th July 2014. There are estimated three million small startups and SMEs in the country. Yet so far, hardly any efforts have been taken to find out who these SMEs are, what challenges they face, and the infrastructure limitations they carry. […]
02 Jul 2014
Narendra Modi or NaMo is perceived to head the new government in India. But is he ready to meet the expectations of the masses especially of entrepreneurs? He may get an opportunity for changing the course of this country. The entrepreneurs especially young are looking up to him with great hope given that in the […]
15 May 2014
We are extremely glad to inform you that you can now form a One Person Company (OPC) in India, that too with the minimum hassle and cost. Among all the other provisions of the new Companies Act, entrepreneurs seemed sitting on the edge of their seats for this one. Let us tell you why. What […]
08 Apr 2014
An idea is born. Rohit and Kartik have come together to ignite something of its kind which will transform the way social media is being used for promoting businesses. With the website going live, and page visits rising with time, the online encouragement is acknowledged and confidence kicks in. Rohit, an IITian from Kharagpur, says, […]
05 Feb 2014
One of the most frequently asked questions at any startup event or investor panel is, “how do investors value a startup?” The unfortunate answer is: it depends. Startup valuation, as frustrating as this may be for anyone looking for a definitive answer, is in fact a relative science and not an exact one. The biggest […]
10 Dec 2013
Crowdfunding is an emerging and innovative online platform that provides small businesses and startups with opportunities to increase their social media presence, investment base, and funding prospects. Crowdfunding, a popular concept started in the US and the UK, is an emerging way of raising capital, entails the use of internet or social networking sites such as Facebook […]
19 Nov 2013
Online Income Tax Return filing for FY 2012-13 (AY 2013-14) is different in many ways from previous years. IT department has brought in many changes which need to be taken into consideration while filing tax returns. IT Department has also been sending notices as tax demands, notices treating the return filed as defective or even […]
11 Jul 2013
“Angel Investments”, the name was all too self-assuming, without any explicit definition anywhere defining, where the next door neighbor who helped fund her maid’s five figure capital for her Idli-Dosa-Meduvada Startup Stall to the millionaire who invested in a Green Fuel Initiative called themselves Angel Investors. But, hold your thought the dynamics of “Angel Funding” […]
26 Jun 2013
When VSS Mani launched his second venture, Justdial in a Mumbai garage, the thought of its IPO subscribing 11.6 times to INR11,000 Cr in the next few years, may have seemed surreal. Even more so after the blow Mani suffered in his first venture Askme. What anyone else would have treated as blow to confidence and retreated from business, Mani transformed into a mega-success.
12 Jun 2013
Provident Fund is a Fund held by the government where employers and employee contribute equally a specified percentage of their salary to this fund which is deposited with the government and can be withdrawn at the time of retirement or earlier. What is the current law? The current percentage of contribution is 12% .It means […]
29 May 2013
The Finance Ministry realized that, with the advent of Negative List, collection of Service Tax is quite an uphill task, given its weak infrastructure considering size of our Indian Economy. But the idea of Negative List was primarily aimed at increase in Revenue and the vision could not be compromised with. Within its machinery of collection, there had to be some way of going about it that was friendly as well as result oriented.
28 May 2013
We find a very prevalent common phenomenon in the startup arena, where after an idea is born, the initial strategy to pursue the idea is made by bringing in employee, getting an entity (Company or LLP) incorporated, followed by the PAN and TAN, and opening a bank account. All set, let us do business now, and grow as big as it gets. End of chapter! Is it? Its certainly not.
14 May 2013
A startup needs money for initial infra-structural costs (be it buying systems, capital goods, servers, and other set-up costs) and also needs money for running day to day business operations till the time the business does not make enough money( that’s called working capital). Startups generally can raise money from two sources; one is called its internal source and other obviously the external.
03 Apr 2013