Topics In Demand
Notification
New

No notification found.

Blog
Tax Filing & Accounting woes for Young Entrepreneurs

May 27, 2015

430

0


Listen to this article



I had a basic question about how we can reduce our tax burdens in the first few years of incorporating a startup.

As per information i got from a  CA IT Filing fees  alone is 15-20K for Filing Income tax returns for Private Limited Companies in India.

This is separate from the Stat Auditing , Book Keeping charges to be incurred per year.

In the event we dont make profit and transactions are minimal, such filing fees is exorbitant, not to mention the addtional 30% tax we have to pay on profitss

Is there any solution available , (like going to a Tax Consultant who is not a CA and so charges lesser ) to overcome these kind of problems in the first year of entrepreneurship?

UPDATE – May 30th

I have managed to find a Chartered Accountant through a friend who offered to file IT Returns for FY 2014-15 for about 6500/-. This is ok, but still i personally feel it would not hurt if NASSCOM authorities could help by creating an avenue for us to reduce the taxation costs in the first two to three years.

Regards
Ron Abraham


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


© Copyright nasscom. All Rights Reserved.