1. 1
AN INDUSTRIAL PRATICE SCHOOL PROGRAM
REPORT ON
FUNCTIONS OF ACCOUNTS DEPARTMENT IN KBG
CORPORATE CONSULTING PRIVATE LIMITED
A Project Report Submitted in Partial Fulfillment of the Requirements for the
Award of Degree of
BACHELOR OF COMMERCE
IN
B.COM(HONS)
By
KRANTHI KUMAR CHEPURI
ID NO: 11052064
Under the esteemed guidance of
CA CS BUTCHI BABU GORANTLA
DEPARTMENT OF COMMERCE
KONERU LAKSHAMAIAH UNIVERSITY
Green Fields, Vaddeswaram,
Guntur, Andhra Pradesh- 522 502.

2. 2
KBG CORPORATE CONSULTING PRIVATE LIMITED
Bonafide Certificate
This is to certify that this project report entitle “A REPORT
ON FUNCTIONS OF ACCOUNTS DEPARTMENT IN KBG
CORPORATE CONSULTING PRIVATE LIMITED” submitted
to Department of Commerce, K L University, Guntur, in
connection with the University internship program is a bona fide
record of work done by “KRANTHI KUMAR CHEPURI
(11052064)” under my supervision at the “KBG CORPORATE
CONSULTING PRIVATE LIMITED” from “22NDDECEMBER
2014” to “9TH
MAY 2015”.
CA CS BUTCHI BABU GORANTA
DIRECTOR

3. 3
K L UNIVERSITY
DEPARTMENT OF COMMERCE
Certificate
This is Certified that the project entitled “REPORT ON
FUNCTIONS OF ACCOUNTS DEPARTMENT IN KBG
CORPORATE CONSULTING PRIVATE LIMITED” which is a
practical work carried out by KRANTHI KUMAR CHEPURI
(110520564)in partial fulfillment for the award of the under
graduation in Department of Commerce , during the year 2014-
2015. The project has been approved as it satisfies the academic
requirements.
Department Coordinator Head of the Department
Mr. K.S.L.S.N.Subramanyam Dr.AVN Murthy
Asst. Prof
University Guide External

4. 4
DECLARATION
I hereby certify that the work which is being presented in the report entitled “REPORT ON
FUNCTIONS OF ACCOUNTS DEPARTMENT IN KBG CORPORATE
CONSUTING PRIVATE LIMITED” in partial fulfillment of the requirements for the
award of the degree of bachelor of commerce and submitted in the department of commerce
at college of engineering Koneru Lakshmaiah University, is an authenticated record of my
own work carried out during the period of from 22ND DEC 2014 to 9THMAY 2015 at KBG
CORPORATE CONSULTING PRIVATE LIMITED,HYDERABAD.
KRANTHI KUMAR CHEPURI
11052064
This is to certify that the above statement made by the candidate is correct to the best of our
knowledge. This student is being examined for the viva exam on this day 13th of May
month of 2015
UNIVERSITY GUIDE COMPANY GUIDE
MR KISHORE V MR BUTCHI BABU GORANTLA
B.COM , FCS,ACA
DIRECTOR
Dr. A. V. N. MURTHY
HEAD OF DEPARTMENT
DEPARTMENT OF COMMERCE
K L UNIVERSITY

5. 5
ACKNOWLEDGEMENT
Before we get into the thick of things, I do present my wholehearted
compliments, with higher regards and warm thanks to one and all, which were
the bone behind the sinews of this project. I give all glory and honor to
Almighty God whose blessings and help made this Endeavour a success.
I wish to express my sincere thanks to Dr. AVN Murthy, for providing an
opportunity to undertake this project and for his invaluable remarks and
supervision in completing this project work successfully. And I wish my
sincere thanks to Commerce Department CoordinatorMr. K.S.L.S.N.
Subramanyam for their valuable guidance and suggestions in the whole
courseof our mini project activity.
Our sincere thanks to our Regional Manager, and University Guide Mr.
Kishore V for his valuable guidance and suggestions in completing our project
successfully.
I would like to express our boundless thanks and gratitude to the Company
Guide and the managing director in KBG Corporate Consulting
PrivateLimited, for their valuable guidance and suggestions in the whole
course of our project activity. Also I would wish my sincere thanks to
Mr.Butchi Babu Gorantla for his valuable Inputs & Functional Guidance to
complete my project successfully
We would like to thank our Institution without which this project would
have been a distant reality. We also extend our heartfelt thanks to our family
and well-wishers.
With Profound Gratitude
Kranthi Kumar Chepuri
11052064

6. 6
OBJECTIVE
The main objective of the industrial program is to expose actual
practical working environment and enhancing the knowledge and
skills from what I have learned from lectures and the theory. Another
purpose of this program is to instill the good qualities of integrity,
responsibility and self-confidence. It’s also helps me about the safety
practices and regulations inside the industry and to instill the spirit of
teamwork and good relationship betweenI and other employees.
Preciously, I have learned in lots of knowledge in Accounting,
Taxation, Auditing, Tally, Payroll processing, Corporate
compliances working process of Service Tax registrations & filings,
process of VAT&CST filing and the reconciliation process
Accounting & compliances. And also I learned about how the
companies under SEZ are followings the rules under service tax and
the process of getting exemptions of service tax payments and.
Finally, this program helps to access student’s ability and
competency in preparation various statements and accounts in the
organization.

7. 7
TABLE OF CONTENTS
S.No Particulars Pane No.
1 Cover Page 1
2 Title Page 2
3 Bonafied Certificate 3
4 Declaration 4
5 Acknowledgement 5
6 Objective 6
7 Abbreviations 8-10
8 List of Tables 11
9 Profile of the Company 12-14
10 Function of Accounts Department. 15-60
11 Conclusion 61
12 Bibliography 62

8. 8
Abbreviations:
Table 1
Abbreviations Expansion
SEZ Special Economic Zone
EOU Export Oriented Unit
PF Provident Fund
ESIC Employee's State Insurance Corporation
EXIM Policy Export and Import Policy
CLB Company Law Board
FEMA Foreign Exchange Management Act,1999
AGM Annual General Meeting
MIS Management Information System
BOD Board of Directors
AOA Articles of Association
MOA Memorandum of Association
FIRC Foreign Inward Remittance certificate
DTA Domestic Tariff Area
NFE Net Foreign Exchange
PC Procurement Certificates

9. 9
MNEs Multinational Enterprise's
STPI Software Technology Parks of India
RBI Reserve Bank Of India
FDI Foreign Direct Investment
FIPB The Foreign Investment Promotion Board
CTC Cost to Company
LOP Loss of Pay
LTC Leave Travel Computation
LLP Limited Liability Partnership
PAN Permanent Account Number
TAN Tax Deduction/Collected Account Number
IEC Importer Exporter Code
S&E Act(AP) Shops & Establishment Act ,1988 (AP)
PT(AP) Professional Tax (AP)
CPBW Customs Private Bonded Warehouse License
SSI Small Scale Industries
MSME Micro, Small and Medium Enterprises
IEM Industrial Entrepreneur Memorandum
MAT Minimum Alternative Tax

10. 10
HUF Hindu Undivided Family
ITR Income Tax Return
AOP Association of Persons
BOI Body of Individuals
SDT Specified Domestic Transactions
FY Financial Year
AY Assessment Year
NSS National Savings Scheme

11. 11
List of Tables& Charts
Table or
Chart no
Particulars Page No
T 1 Abbreviations 7-9
T 2 ITR Forms 28-29
Fig 1 Types of e-filing 29
Fig 2 Process of e-filing 30
T 3 TDS classification 39-42
T 4 Types of various service tax forms 44-45

12. 12
PROFILE OF THE COMPANY:
ABOUT THE COMPANY:
KBG is a professional services firm specializing in
CORPORATESERVICES, set-forth with zeal to cater to the
CORPORATE AND LEGAL needs of clients in the emerging
corporate arena and to provide Assurance, Advisory, Accounting
Solutions,Secretarial,Corporate compliances, Corporate Tax and
Management Consulting Services to clients.
Based at Hyderabad the organization is strongly motivated to
consistently perform up to the industryBenchmark to offer and
provide legal & corporate services at an impressive efficiency every
year, since its inception in 2001. With a dedicated team of young and
dynamic CA’s &CS’s and a strong urge to carve our own niche in the
corporate world, we are desirous of emerging as a force to reckon
with in the corporate setup today.
Established in 2001 and located in Hyderabad KBG have good
experience and have the ability to provide value addition to the
clients. Their strength lies in the team and the outlook it has. With a
focus on client's necessities and understanding of wide variety of
businesses, we are in a position to deliver quality work in any
dynamic environment. It is well equipped with sophisticated
networking communication equipment and provides readily available
latest information technology at all times.

13. 13
DIRECTORS OF THE COMPANY:
BUTCHI BABU GORANTLA, Director
BUTCHIBABU is a Founder and Director of the company with an overall
experience of 15 years.Butchibabu brings with him firsthand experience in
handling Finance, Accounts, Payroll, Taxation and Compliance related matters
for medium to large business enterprises both domestic and multinational
entitiesButchibabu has commanding knowledge on managing and handling the
SEZs, 100% EOU’S as a one stop shop including Accounts, Incometax,
Customs, Central Excise, Service tax, Sales tax, periodical compliances, &
payroll management, and attending assessments for Direct & Indirect Taxes.
Butchibabu brings the indispensable expertise of handling data-driven
transitions and year-end closures. Butchibabu is a realist and leads the
accounting and finance processes.He is an expert in making Project reports and
assignments relating to Accounts, Income Tax and Sales Tax. He has a
valuable five years’ experience in dealing with Income Tax matters. He
specializes in individual and corporate taxation. He was involved in conducting
the due diligence and preparing for the due diligence.
At present he takes care of the activities like Payroll and Accounts
Management on outsourcing basis for medium sized companies in the software
sector. He has sound knowledge about the interpretation and implementation of
Foreign Trade Policy and Foreign Director Investment. He also takes care of
PF and ESI Consulting. Butchibabu is a Fellow member of the Institute of
Company Secretaries of India (ICSI), Associate member of the institute of
Chartered Accountants of India (ICAI) and obtained Bachelor’s Degree in
Commerce.

14. 14
SRIKRISHNA S CHINTALAPATI, Director
SRIKRISHNA is an Associate Member of the Institute of Company
Secretaries of India. He is the stuff and pillar behind the secretarial needs of
the firms. He undertakes and co-ordinates for registrations with STPI, Customs
&Central Excise authorities and other regular endorsements. He has sound
knowledge of EXIM policies. At the movement he is the co-coordinator for set
up works in and around Hyderabad be it software or otherwise. Srikrishna
offers specialized advice on all aspects of Company Law, Securities Laws and
Specialist in Listing Compliances, Corporate Takeovers, Legal Advisory and
Finance. His core strength is simultaneously handling both large domestic
corporates and multinational companies.
He has lead more than 50 corporate set ups from entry level to commencing
commercial operations, few of which have been taken over by few foreign
enterprises. He firmly believes in quality work and steady growth of individual
and firm’s growth.
He is adept at conducting of General Meetings and looking after the secretarial
& administrative compliance of various medium sized organizations including
preparation of annual reports of listed companies, CLB petitions & other
regular listing compliances. He was involved in preparation and certification of
secretarial compliance reports, statutory record up dating and secretarial audit.
Presently, he takes care of quality control within the firm. He has sound
knowledge of corporatelaws.

15. 15
FUNCTIONS OF ACCOUNTING DEPARTMENT:
1. Preparation of Books of Accounts and preparation of final
financial statements.
2. Statutory Audit.
3. Income Tax audit.
4. Filing Annual Report, annual Return and Income Tax returns
under Companies Act, 2013 and Income Tax Act, 1961.
5. Transfer pricing regulations.
6. TDS (Tax Deducted at Source) Management.
7. Service tax compliances.
8. DTA Compliances.
9. Sales tax compliances.
10. FEMA Compliances.
11. Labour Law Compliances.
12. Payroll.
13. Maintenance of Secretarial Records.

16. 16
ACCOUNTS:
1. Preparation of Books of Accounts
As per the Companies Act, 2013 and Income Tax Act, 1961 Books
of Accounts comprises of the following:
a. Cash Book and Bank Book
b. Journal Register
c. Sales Register
d. Fixed Asset Register
e. Vouchers
f. Bills
g. Invoices
h. Expenses statements and Income flow statements
i. Office Notes/Memos on Expenditure
j. Employees Salary Register
k. Other Statuary Returns
Process of Work Flow:
a. Installation of Relevant Software (say Tally, Wings, Quick
Books):
Installation of relevant software is according the clients
requirement and company norms decided in the latest AGM, the
information technology and software will be installed.
b. Preparation of Vouchers supported by Bills and inter office
advises:
Preparation of vouchers is the part of accounting for the document
verification of the each transaction it may be the expenditure or
income the company. This process is to know the in and outflow
of the funds in the company.

17. 17
c. Entry of Vouchers in the System
d. Generation of MIS on Periodical basis for the internal
purposes of the Management:
It helps an organization accomplish its objectives by bringing a
systematic, disciplined approach to evaluate and improve the
effectiveness of risk management, control and governance
processes.
e. Budget preparations:
Budget preparation is the very decisive chunk in any business
activity. The Responsibility towards our clients is too accountable
each and every coinage to the client though preparation of budget.
f. Preparation of Bank Reconciliation Statements:
As we all know that now a days every corporate is using a bank
account for their business purpose. And our work is to maintain
the bank account statements in the accounting software and we
have to conduct the reconciliation process to match the bank and
cash balances.
g. At the year-end preparation of financial statements
We prepare the various financial statements for the corporate and
the preparation of statements according the rules and submit to the
need parties.
h. Making adjustments related to Income Tax (this is very crux
point for our company):
This is one of the core tasks of our company. As an accountant the
main concern to reduce the income tax burden to the clients in fair
practices.
i. Finalization of All books of Accounts:
Finalization of all books of accounts is closing of books of
accounts for the particular accounting period and the financial

18. 18
statements forwarded to the various government agencies on
periodical basis.
2. Statutory Audit
“A legally required review of the accuracy of a company's or
governments financial records. The purpose of a statutory audit is the
same as the purpose of any other audit - to determine whether an
organization is providing a fair and accurate representation of its
financial position by examining information such as bank balances,
bookkeeping records and financial transactions.”
All the Books of Accounts and vouchers, bills and invoices have to
be submitted to Statutory Auditors for their report and comments on
the Company.
Statutory Audit for a Company is must for every Company registered
in India as per the Companies Act, 2013. An Auditor has to be
appointed for these purposes.
The Report issued by the Auditors is called as “Auditors Report” and
this report includes the statutory compliances and financial system of
the Company in detail.
This report has to be forwarded to the various government agencies
on periodical basis.

19. 19
Process of work flow:
As an accountant working under the auditor these are my
responsibilities at the time of Statutory Audit:
 Guide and lead audit teams to achieve audit goals and
objectives.
 Review of all customers, vendors and ledger balances.
 Verification of vouchers various important documents relating
to the business activity.
 Find out the mistakes and misappropriations in the accounts.
 Document all audit reports and findings for the top
management.
 Confirming accounts receivable and other accounts with a
third party
 Observing the physical inventory count
 Implement best practices and procedures in all audit systems
and accounting functions.
 Preparation of final report of the audit work and it include the
all the findings and results of the audit.

20. 20
3. Income Tax Audit
Tax Audit is compulsory for the following:
1. A person carrying on business, if the total sales, turnover or
gross receipt in business for the accounting year or years relevant
to the assessment year exceed or exceeds Rs. 1 Cr . (Rs.60 Lakhs
up to F Y 2012-13)
2. A person carrying on profession, if his gross receipts in
profession for an accounting year or years relevant to any of the
assessment year exceeds Rs. 25 lakh. (Rs.15 Lakh up to FY
2012-13)
3. A person whose income is assessed on a presumptive basis
under section 44AE, 44BB or 44BBB. Where such an assessee
declares an income lesser than presumed under the sections
44AE, 44BB or 44BBB, they are required to get their accounts
audited in accordance with section 44AB. (44AE – business of
plying, hiring or leasing goods carriages, 44BB – business of
exploration etc. of mineral oils, 44BBB - foreign companies
engaged in the business of civil construction, etc in certain
turnkey power projects.)
4. A person whose income is assessed on a presumptive basis
under section 44AD (w.e.f. 01.04.10). Where such an assesse
declares an income lesser than presumed under the sections
44AD, they are required to get their accounts audited in
accordance with section 44AB. Unlike the persons specified in
the 3rd point, the persons specified here are only required to their
accounts or books audited if their income exceeds the basic
exemption limit.

21. 21
This report gives comment on the various Income Tax provisions
to be followed by the Company.
For Example: A cash payment to any person in excess of Rs.
20,000/- per bill is not allowed. However, certain exemptions are
available.The Income Tax Audit report has to be attached to the
Income Tax return to be filed with the department at year end.
After section 43 of the Income-tax Act, the following section shall be
inserted, namely:-
'43A. Special provisions consequential to changes in rate of
exchange of currency—(1) Notwithstanding anything contained in
any other provision of this Act, where an assessee has acquired any
asset from a country outside India for the purposes of his business
or profession and, in consequence of a change in the rate of
exchange at any time after the acquisition of such asset, there is an
increase or reduction in the liability of the assessee as expressed in
Indian currency for making payment towards the whole or a part of
the cost of the asset or for repayment of the whole or a part of the
moneys borrowed by him from any person, directly or indirectly,
in any foreign currency specifically for the purpose of acquiring
the asset (being in either case the liability existing immediately
before the date on which the change in the rate of exchange takes
effect), the amount by which the liability aforesaid is so increased
or reduced during the previous year shall be added to, or, as the
case may be, deducted from, the actual cost of the asset as defined
in clause (1) of section 43 or the amount of expenditure of a capital
nature referred to in clause (iv) of sub-section (1) of section 35 or
in section 35A or in clause (ix) of sub-section (1) of section 36 or,
in the case of a capital asset (not being a capital asset referred to in
section 50), the cost of acquisition thereof for the purposes of
section 48, and the amount arrived at after such addition or
deduction shall be taken to be the actual cost of the asset or the

22. 22
amount of expenditure of a capital nature or, as the case may be,
the cost of acquisition of the capital asset as aforesaid.
Process of work flow:
 Detailed verification of the background statutory information of the
assessee.
 Verification of the Nature of the Business, profit sharing ratio and the
registration certificates.
 Verification of capital inflow /outflow of the business and each and every
journal entry transactions.
 Verification of the policies whether they following the norms under the
Income Tax Act, 1961 and see that there are no Deviations in the business.
 Whether books of account are prescribed under section 44AA, if yes, list of
books so prescribed.
 Whether the profit and loss account includes any profits and gains
assessable on presumptive basis, if yes, indicate the amount and the
relevant section (44AD, 44AE, 44AF, 44B, 44BB, 44BBA, 44BBB or any
other relevant section).
 Verification of Method of accounting employed in the previous year.and
checking that there has been any changes in the method of accounting
employed vis-à-vis the method employed in preceding previous year.
 Verification of the computation method depreciation on assets according to
the IT Act and Companies Act.
 Verification of the balance sheet whether it is in the prescribed format or
not.
 Preparation of the report on the entire Tax Audit and submit to the concern
parties.

23. 23
4. Secretarial Audit:
Secretarial Audit is a process to check compliance with the
provisions of various laws and rules/regulations/procedures,
maintenance of books, records, etc., by An Independent
Professional to ensure that the company has complied with the
legal and procedural requirements and also followed due processes.
It is essentially a mechanism to monitor compliance with the
requirements of all the laws/rules/regulations applicable onto a
Company.
The scope of Secretarial Audit is very broad and the practicing
Company Secretary has to report on the compliance of all the laws
applicable onto the company in addition to Companies Act, 2013
(including any rules and regulations made thereunder), the Listing
Agreement and Secretarial Standards issued by the Institute of
Company Secretaries of India. Rule 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules,
2014 provides that the format of the Secretarial Report shall be in
Form No – MR – 3.
Process of Work Flow:
 Verification of Registers and Records of the company. The
registers like:Statutory Registers.
Register of Inspection.
Register of Director’s Attendance.
Register of Shareholder’s Attendance.
Register of Proxies
Register of Share Transfer Details.
Register of Fixed Assets and Document sealed
 Verification of Forms, Returns & Documents like; Annual
returns, Balance Sheet, return of allotments, and changes in
the resolutions.etc.,
 Meeting of Directors and Minutes.

24. 24
 Closure of Register of members or Debenture holders.
 Annual General Meeting (AGM0 and Minutes.
 Verification of Extraordinary General Meetings and Minutes.
 Verification of Loans to Directors.
 Verification of agreements between directors.
 Issues of Capital & Securities.
 Verification of Appointment of Directors, Managerial
Personnel, Sole Selling Agents and Auditors.
 Verification of Barrowings, loans to the companies, Deposits
and Banker’s certificates if any.
 Verification of prosecution notices, Deposit of Employee’s
security and The Provident Fund details.
 Check list for the other compliances.
 Verification of the compliances for SEBI
 Preparation of the Secretarial Audit Report and Submit to the
required concerned authorities.

25. 25
5. Filing Annual Report, Annual Return and Income Tax
returns
Annual Report:
After obtaining all the above statements and reports, the
Company has to conduct a Annual General Meeting and those
report has to be adopted by the Shareholders. Before the Meeting
the Directors also have to place their report called “Directors
Report” detailing the activities conducted during the particular
year.
Finally Annual Report comprises of the following:
 Annual General Meeting (AGM) Notice:
The annual general meeting is typically the only time during the
year when shareholders and executives interact. If a company
needs to resolve a problem in between annual general meetings, it
may call an extraordinary general meeting. Activist shareholders
may use annual general meetings as an opportunity to express
their concerns.
 Directors Report
A statement by a company's Directors in its annual accounts
giving the directors' opinion of the state of the company, and how
much should be paid to people owning shares in the company
 Auditors Report
Document prepared by the auditors appointed to examine and
certify the accounting records and financial position of a firm. It
must be filed every year by an incorporated or registered firm

26. 26
(along with its audited financial statements) with the appropriate
regulatory authority.
 Balance Sheet
The balance sheet presents a company's financial position at the
end of a specified date. Some describe the balance sheet as a
"snapshot" of the company's financial position at a point (a
moment or an instant) in time.
 Profit & Loss Account:
The profit & loss account summarizes the revenues and expenses
generated by the company over the entire reporting period. The
profit & loss statement is also known as the income statement,
statement of earnings, statement of operations, or statement of
income.
 Schedules attached to the above:
In the balance sheet each segment will noted as a schedules or
notes.
 A Balance sheet abstract:
Balance Sheet Abstract is additionalinformation Under Part IV of
the Schedule VI to the Companies Act, 1956.
This report has to be filed with the Registrar of Companies within
30 days of the AGM. The due date for AGM for the year ended on
31st March is 30th September.

27. 27
Annual Return:
The annual return contains the following details of the company:
 Share capital details:
The share capital details include the details about authorized share
capital and paid up share capital.
 Shareholders list
 Transfer of shares:
Shares are freely transferable to other members, or members of the
family (defined) of the shareholder, but that other transfers may be
refused by the directors. There can be provisions that a person
who ceases to be a director has to transfer their shares
 Board of Directors (BOD):
Governing body (called the board) of an incorporated firm. Its
members (directors) are elected normally by the subscribers
(stockholders) of the firm (generally at an annual general meeting
or AGM) to govern the firm and look after the subscribers'
interests.
 Modifications in MOA & AOA :
The material amendments, additions and deletions proposed to the
Articles of Association (AOA) and Memorandum of Association
(MOA), those amendments will be displayed in the AGM notice.

28. 28
 Share holding pattern of the company :
According to the companies act and income tax act the corporate
or company should follow the rules and regulation while allotting
the shares to the members or directors or at the time of public
issue.
This return has to be filed annually along with the Annual report with
the Registrar of Companies.
Income Tax return:
After obtaining the approved balance sheets and various
required statutory reports to file income tax returns of schedule VI
under Income Tax Act, 1961 and Companies Act, 2013 in the AGM
and relevant certificates are obtained; Income tax return for the
particular year has to be prepared. This will comprise of the
following:
 Income tax return in the prescribed format:
Various ITR forms for Assessment Year 2014-15:
Table 2
ITR Description
ITR 1(SAHAJ) For individuals having income Salary and Interest.
ITR 2 For Individuals & HUFs not having income from
Business and Profession.
ITR 3 For Individuals/HUFs being partners in firm and not
carrying out business or profession under any proprietor

29. 29
ship.
ITR 4 For Individuals/HUFs having income from proprietary
business or profession.
ITR 4S
(SUGAM)
For Individuals/HUFs having income from presumptive
business.
ITR 5 For firms, AOPs ,BOIs and LLPs.
ITR 6 For companies other than companies claiming
exemptions under section 11.
ITR 7 For persons including companies required to furnish
return under sec 139(4A) or section 139(4B) or section
139(4C) or section 139(4D).
Types of e-Filing:
Figur.1

30. 30
Process of e-Filing:
Figur.2
 Computation statement of the Income of the Company
 Depreciation statement as per Income Tax act, 1961.
 Depreciation as per Companies Act, 2013.
 Tax exemption certificates(Ex. FORM :56F)

31. 31
 MAT computation ( u/s 115jb of ITact,1961)
MAT stands for Minimum Alternate Tax and AMT stands for
Alternate Minimum Tax. Initially the concept of MAT was
introduced for companies and progressively it has been made
applicable to all other taxpayers in the form of AMT. In this part
you can gain knowledge about various provisions relating to MAT
and AMT. First of all we will understand the provisions of MAT
and thereafter the provisions of AMT.
At times it may happen that a taxpayer, being a company, may
have generated income during the year, but by taking the
advantage of various provisions of Income-tax Law (like
exemptions, deductions, depreciation, etc.), it may have reduced
its tax liability or may not have paid any tax at all. Due to increase
in the number of zero tax paying companies, MAT was introduced
by the Finance Act, 1987 with effect from assessment year 1988-
89. Later on, it was withdrawn by the Finance Act, 1990 and then
reintroduced by Finance (No. 2) Act, 1996, wef1-4-1997.
The objective of introduction of MAT is to bring into the tax net
"zero tax companies" which in spite of having earned substantial
book profits and having paid handsome dividends, do not pay any
tax due to various tax concessions and incentives provided under
the Income-tax Law.
Since the introduction of MAT, several changes have been
introduced in the provisions of MAT and today it is levied on
companies as per the provisions of section 115JB.
As per the concept of MAT, the tax liability of a company will be
higher of the following:

32. 32
 Tax liability of the company computed as per the normal
provisions of the Income-tax Law, i.e., tax computed on the
taxable income of the company by applying the tax rate
applicable to the company. Tax computed in above manner
can be termed as normal tax liability.
 Tax computed @ 18.5% (plus surcharge and cess as
applicable) on book profit (manner of computation of book
profit is discussed in later part). The tax computed by
applying 18.5% (plus surcharge and cess as applicable) on
book profit is called MAT.
 Tax Audit Report:
There are various types of audits prescribed under different laws
like company law requires a company audit; cost accounting law
requires a cost audit, etc. The Income-tax Law requires the
taxpayer to get the audit of the accounts of his business/profession
from the view point of Income-tax Law.
Section 44AB gives the provisions relating to the class of
taxpayers who are required to get their accounts audited from a
chartered accountant. The audit under section 44AB aims to
ascertain the compliance of various provisions of the Income-tax
Law and the fulfillment of other requirements of the Income-tax
Law. The audit conducted by the chartered accountant of the
accounts of the taxpayer in pursuance of the requirement of
section 44ABis called tax audit.

33. 33
The chartered accountant conducting the tax audit is required to
give his findings, observation, etc., in the form of audit report. The
report of tax audit is to be given by the chartered accountant in
Form Nos. 3CA/3CB and 3CD.
 FIRC and DTA Certificates :
 FIRC - A Foreign Inward Remittance Certificate (FIRC)
is a document that acts as a testimonial for all the inward
remittances entering India. Most of the statutory
authorities accept this document as proof that an
individual or a business, such as a limited company,
partnership firm, sole proprietorship firm and others, has
received a payment in foreign currency from outside the
country.
Once your overseas client pays your sale proceeds to your
account, a certificate is issued by your bank in this regard
mentioning the details of remittance made by your client.
This is a proof of receipt which is required to submit with
various government authorities while applying for
financial assistance and other government support.
This certificate is issued by the banker authorized from The
RBI and the responsibility to collect the account holder
 DTA
DTA stands for Domestic TariffArea. The Units which are
located in India and clear its finished products on payment of
duty as per Central Excise Tariff Act 1985 and exports on
the basis of undertaking or bond are called as DTA unit.

34. 34
EOU stand for 100% Export oriented unit. The unit is
established under the scheme of EOU and a 100% EOU is
set up to clear its finished goods to export purpose. The
theme of EOU to called the NFE (Net foreign exchange). It
procures the duty free goods on the strength of form CT-3 &
PC (Procurement Certificate in case of import)

35. 35
6. Transfer Pricing Regulations:
1. Transfer pricing provisions were earlier restricted to
international transactions. With effect from 1.4.2013, the
scope of transfer pricing provisions gets extended to specified
domestic transactions (SDT) exceeding Rupees five crore in
value.
2. Notification no. 41/2013 dated 10th June, 2013 has amended
the FORM-3CEB i.e. report under section 92 E regarding
international and specified domestic transaction.
3. The amended Form No. 3CEB contains 25 clauses requiring
disclosure of the details of the various international
transactions and SDT. It is divided into the three parts:
 Part A: requiring the taxpayer to provide general
information about itself along with the aggregate value of
international transactions and SDT.
 Part B: requiring the taxpayer to provide the details of the
international transactions entered into during the Financial
Year.
 Part C: requiring the taxpayer to provide the details of SDT
entered into during the FY.
Provisions of international transaction (section 92B):
International transaction means a transaction between two or more
associated enterprises, either or both of whom are nonresidents.
The transaction may be in the nature of purchase, sale of
intangible or tangible property or provision of service or any other
transaction having bearing on the profits, income, losses or assets
of such enterprise.

36. 36
Provisions of Specified domestic transaction (section 92BA):
Specified domestic transaction means:-
a. Any expenditure in respect of which payment has been made to
related party i.e. having substantial interest (more than 20% voting
power) referred to in section 40 A(2)(b)
o In case of transactions between two related parties of
goods and services, only the purchaser is to comply
and not the seller
o Only expense side is covered and i.e. only revenue
expenditure and not items of income
b. any transaction referred to in section 80A (correspond to the
market value/arm’s length price of such goods or services)
c. any transfer of goods or services referred to in sub-section (8) of
section 80-IA (interunit transfer of goods and services)
d. any business transacted between the assesse and other person as
referred to in sub-section (10) of section 80-IA (applies to
transactions between the assesse and any other person which
results in excessive profits in the hands of the assesse)
e. any transaction, referred to in any other section under Chapter
VI-A or section 10AA, to which provisions of sub-section (8) or
sub-section (10) of section 80-IA are applicable. They are listed
below:
• 80-IAB- Deductions in respect of profits and gains by an
undertaking or enterprise engaged in development of Special
Economic Zone.
• 80-IB- Deduction in respect of profits and gains from certain
industrial undertakings other than infrastructure development
undertakings
• 80-IC- Special provisions in respect of certain undertakings or
enterprises in certain special category States

37. 37
• 80-ID- Deduction in respect of profits and gains from business
of hotels and convention centers in specified area
• 80-IE- Special provisions in respect of certain undertakings in
North- Eastern States.
f. any other transaction as may be prescribed.

38. 38
7. TDS (Tax deducted at Source) Management
Tax Deducted at Source means the deduction of Income Tax
from the Payees and pays it to the Department on their behalf
and issues them the necessary certificates to claim the same. This
provision is introduced to collect the taxes in advance before
filing of the Income Tax return.
TDS Rates for Payments other than Salary and Wages to
Residents (including domestic companies) for FY 2014-15 (AY
2015-16)
Table 3
Section For Payment of On Payments
Exceeding
Individual
/ HUFs
Others
193 Interest on
Securities
Rs. 5000/- 10% 10%
194 Deemed
Dividend
No minimum 10% 10%
194 A Interest other
than on securities
by banks
Rs. 10000/- 10% 10%
194 A Interest other
than on securities
by others
Rs. 5000/- 10% 10%

39. 39
194 B Winnings from
Lotteries / Puzzle
/ Game
Rs. 10000/- 30% 30%
194 BB Winnings from
Horse Race
Rs. 5000/- 30% 30%
194 C
(1)
Payment to
Contractors
Rs. 30000/-
for single
payment
1% 2%
Rs. 75000/-
for aggregate
194 C
(2)
Payment to Sub-
Contractors / for
Advertisements
payment
during
Financial
Year
194 D Payment of
Insurance
Commission
Rs. 20000/- 10% 10%
194 EE Payment of NSS
Deposits
Rs. 2500/- 20% NA
194 F Repurchase of
units by Mutual
Funds / UTI
Rs. 1000/- 20% 20%

40. 40
194 G Commission on
Sale of Lottery
tickets
Rs. 1000/- 10% 10%
194 H Commission or
Brokerage
Rs. 5000/- 10% 10%
194 I Rent of Land,
Building or
Furniture
Rs. 180000/- 10% 10%
Rent of Plant &
Machinery
Rs. 180000/- 2% 2%
194 IA Transfer of
Immovable
Property (w.e.f.
01.06.2013)
Rs. 50 lacs 1% 1%
194 J Professional /
technical
services, royalty
Rs. 30000/- 10% 10%
194 J
(1)
Remuneration /
commission to
director of the
company
- 10% 10%

41. 41
194 J
(ba)
Any
remuneration /
fees /
commission paid
to a director of a
company, other
than those on
which tax is
deductible u/s
192.
- 10% 10%
194 L Compensation on
acquisition of
Capital Asset
Rs. 100000/- 10% 10%
194 LA Compensation on
acquisition of
certain
immovable
property
Rs. 200000/- 10% 10%
In this regard the Company should do the following:
 Tax deduction account number to be obtained
 Deduct the tax amount and pay it to the department before 7th
of every month
 Quarterly Returns to be filed
 Tax credit form to be issued to the vendors.
 Ensure that Sec.40(a)(i) & 40 (a)(ai) are followed or not.

42. 42
8. Service Tax Compliances
Since the company being the Exports unit, It can claim 100% Service
tax exemption for the exports amounts received in India and to claim
this certain procedures to be followed.
The present rate of tax is @12.36% and this is exempted for DTA
units.
To claim the exemption and as part of compliances the following are
required to be done:
A Procure the Service Tax Registration
B File the quarterly/half yearly returns
C Procure the Exemption Certificate
D Procured the Refund certificate for certain services where
Service tax to be paid and claim the refund on quarterly basis.
Process of work flow:
 To obtain the service tax registration, need to fill the Form ST-
1 in duplicate in the Service Tax official website.
 Copy of PAN card is necessary as a PAN based code (Service
Tax Code) is allotted to every assessee.
 These forms are required to be submitted to the jurisdictional
Central Excise office (in case of six Service Tax

43. 43
Commissionerates, to the jurisdictional Division office. There
are separate service tax commissionerates in Mumbai, Chennai,
Delhi, Kolkata, Bangalore and Ahmedabad as mentioned in the
previous chapter).
 Verification process of the documents certification.
 These are the various form Types to complete the service tax
compliances.
Table 4
Form type Brief Description
Form-
SC(ST)-1
Form of application for settlement of a case under section 32E of Excise Act made
applicable to service tax vide section 83 of the Finance Act, 1994 (32 of 1994)
Application Application for Compounding of Offence
Proforma Proforma for forwarding the proposal for publishing of names and other details in r/o
Service Tax (Provisional Attachment of Property) Rules, 2008
Form-
VCES-1
Declaration under Service Tax Voluntary Compliance Encouragement Scheme
Form-
VCES-2
Acknowledgement of declaration under Service Tax Voluntary Compliance
Encouragement Scheme
Form-
VCES-3
Acknowledgement of discharge under Service Tax Voluntary Compliance
Encouragement Scheme
Form-1 Form of declaration under Section 94 of the Finance Act, 2008 in respect of Dispute
Resolution Scheme, 2008
Form-2 Certificate for full and final settlement of tax arrears under Section 96 (2) of the
Finance Act, 2008 in respect of Dispute Resolution Scheme, 2008
G.A.R. 7 G.A.R. Proforma for Service Tax payments (For payments fromApril, 2007 onw ards)
[Front] [Reverse]
ST - 1 Application form for registration under Section 69 of the Finance Act, 1994
ST - 2 Certificate of registration under Section 69 of The Finance Act, 1994 (32 of 1994)

44. 44
ST - 3 Return under Section 70 of the Finance Act, 1994 read with Rule 7 of Service Tax
Rules, 1994
ST - 3A Memorandum for provisional deposit under rule 6 of the Service Tax Rules, 1994
ST - 4 Form of Appeal to the Commissioner of Central Excise (Appeals)
ST - 5 Form of Appeal to Appellate Tribunal under sub-section (1) of section 86 of the
Finance Act, 1994
ST - 6 Form of Memorandum of Cross-Objections to the Appellate Tribunal under sub-
section (4) of section 86 of Finance Act, 1994
ST - 7 Form of Appeal to Appellate Tribunal under sub-section (2) of section 86 or sub-
section (2A) of section 86 of the Finance Act, 1994
AAR (ST-I) Application for Advance Ruling (Service Tax)
ASTR - 1 Application for filing a claim of rebate of service tax and cess paid on taxable
services exported
ASTR – 2 Application for filing a claim of rebate of duty paid on inputs, service tax
and cess paid on input services
Application Proforma for Application for permission to file ST-3 Return electronically
Form - A Application for refund of CENVAT credit under Rule 5 of the CENVAT Credit Rules,
2004
Form - A1 Declaration by the SEZ Unit or Developer for availing ab initio exemption
Form - A2 Authorization for procurement of services by a SEZ Unit/Developer
for authorised operations
Form - A3 Quarterly return to be furnished by the SEZ Unit/Developer furnishing the details of
services procured without payment of service tax
Form – A4 Application for claiming refund of service tax paid on specified services used
for authorised operations in SEZ

45. 45
9. Exports - Customs and Excises Compliances:
Since the company being the DTA, the Unit needs to comply with
following and at present no concessions/exemptions for goods
procurements.
 File Monthly Invoice for Exports and obtain the Certificate
(SOFTEX):
SOFTEX forms are to be filed with STPI to regulate inward
outward remittance by Reserve Bank under export of goods in
non-physical form, either domestic or offshore. The products
includes computer software, export of Video and TV software
and all other types of software products and packages which are
falling under goods of non-physical form.
 Online Submission of
documents/permissions/returns/approvals/intimations etc.
 Maintenance of Registers
A. Import Register ( Bill of Entry)
B. Local Goods Register
C. Inventory Registers for capital goods
D. Sales tax exemption registers if any.

46. 46
10. Sales Tax Compliances:
A tax imposed by the government at the point of sale on retail goods
and services. It is collected by the retailer and passed on to the state.
It is based on a percentage of the selling prices of the goods and
services and set by the state. And these are the following
compliances under sales tax:
 Procure the registration:
We do the sales tax registration certificate from the concern
government authorities on behalf of the client and procure the
physical form of certification.
 File a monthly return of exports:
 File a annual return of exports
 Procure the way bill to get the goods from outside Andhra
Pradesh
 Annual Assessment for “NIL” tax claiming the DTA
Exemption

47. 47
11. FEMA COMPLIANCES
 Procure the Foreign Inward Remittances for Investments in
India and Exports amount for services received from India
 Inform to Bank & Reserve Bank of India (RBI)
 Allocation of shares and Filling to RBI in FC-GPR form
 Procure the Approval for Foreign Direct Investment (FDI) in
India.
 Once Exports money is received (including advances)
documents to be submitted to the Banker attaching the DTA
SOFTEX form certifying the exports from India.
 File half yearly return to RBI on FDI, Exports and Imports.
Process of work flow:
 Obtaining the necessary permissions from the Reserve Bank of
India (RBI)
 Secretariat of Industrial Approvals from the Government
authorities
 Dealing with the Foreign Investment Promotion Board (FIPB)
on behalf of our clients
 Consultation in FDI Scheme and obtaining suitable permissions
for the clients.

48. 48
 Preparation and filing of Forms such as FC-GPR and FC-TRS
to submit to the various government agencies
 Setting up wholly owned subsidiaries, liaison / branch offices
in India
 Taking care of FDI Policies and its compliances / undertaking
takeover through transfer procedures by the clients.

49. 49
12. Labour Law Compliances:
Statutory compliance under various labor laws has to be ensured by
establishments. It is not just limited to the statutory deposits, returns
and records to be maintained by the employer under various labor
laws, but also to represent them in case of prosecution under various
statutes.
A company incorporated in India having more than 20 employees is
required to comply with the Labour laws relating to Employee Safety
and Welfare measures taken up by the company. In this regard, the
following documents are to be filed on annual basis.
 Payment of Annual Welfare fund:
For annul welfare funds employer and employees must
contribute according to the related statutory acts and local
government authority rules and regulations.
 Renewal of Establishment registration
According to shops & establishment act of Andhra Pradesh every
company needs renewal the registration and maintaining the
physical certification forms for previous periods.
 A monthly return of employees information:
At the time of payroll process in each month specific sum from
the monthly pay will be contributed and preparation of spread
sheets for the clients.
 Maternity benefits
Where a woman has delivered a child and dies during her delivery
or during the period immediately following the date of her
delivery for which she is entitled for the maternity benefit, leaving
behind in either case the child, the employer shall be liable for the
maternity benefit for that entire period but if the child also dies

50. 50
during the said period, then for the days up to and including the
date of the death of the Child. 6 weeks leave with wages for
tubectomy and two weeks immediately following the day of an
tubectomy. Nursing breaks – Two times in the course of daily
work till the child attains 15 months. Prohibition from dismissal
for absence during pregnancy. However, for Misconducts,
forfeiting of Maternity Benefit and Medical bonus permissible.
 Minimum Wages :
Payment of Minimum Wages A minimum wage is the lowest
hourly, daily or monthly remuneration that employers may
legally pay to workers. Minimum wage is the wage that is able to
provide not only for bare physical needs but also for preservation
of efficiency of worker plus some measure of education, health
and other things. The minimum wage must be paid irrespective
of the extent of profits, the financial condition of the
establishment or the availability of workmen at lower wages.
The minimum wage gives employers a guideline as to the legal
minimum amount paid to employees.
 Bonus compliances:
The Payment of Bonus Act, 1965 Section 8: Eligibility for bonus-
Every employee shall be entitled to be paid by his employer in an
accounting year, bonus, in accordance with the provisions of this
Act, provided he/she has worked in the establishment for not less
than thirty working days in that year. Section10: Payment of
minimum bonus- a minimum bonus which shall be 8.33% of the
salary or wage earned by the employee during the accounting year
or one hundred rupees, whichever is higher, whether or not the
employer has any allocable surplus in the accounting year

51. 51
 Gratuity:
Gratuity is a part of salary that is received by an employee from
his/her employer in gratitude for the services offered by the
employee in the company. Gratuity is a defined benefit plan and is
one of the many retirement benefits offered by the employer to the
employee upon leaving his job. An employee may leave his job
for various reasons, such as - retirement/superannuation, for a
better job elsewhere, on being retrenched or by way of voluntary
retirement.
As per Sec 10 (10) of Income Tax Act, gratuity is paid when an
employee completes 5 or more years of full time service with the
employer(minimum 240 days a year).
 Payment of salaries Form.
 List of holiday and Festivals form.

52. 52
13. PAYROLL :
The sum total of all compensation that a business must pay to its
employees for a set period of time or on a given date. Payroll is
usually managed by the accounting department of a business. Small-
business payrolls may be handled directly by the owner or an
associate.
Payroll can also refer to the list of employees of a business and the
amount of compensation that is due to each of them. Payroll is a
major expense for most businesses and is almost always deductible as
such.
Payroll can differ from one pay period to another due to overtime,
sick pay and other variables.
Payroll including the Benefits & Reimbursements:
Periodical:
 Structuring of CTC including the Tax Management:
Definition of Cost to Company differs from company to company
and every company has its own structure and salary components
which company wants to make part of CTC. For simple
understanding, let me define CTC which includes cost which
company incur on employee in form of statutory contributions,
reimbursement, benefits and sometime administrative costs other
than Gross salary of employee.

53. 53
We will understand all the possible components which company
can put in CTC and what is the impact of these components on
your in hand and tax liability.
 Benefits & Reimbursements Planning
 Investment Declarations compilation:
 Employee Tax Planning and Advisory services.
 Advisory services on Benefits Planning like Car Schemes etc.
 Fringe Benefit Tax and Employee Perquisites Valuations
 Final Settlements
 Employee Account on Exception Basis.
Monthly:
Monthly Payroll processing
Payslips
TDS Computations
Variable pay management
Monthly Fringe Benefit Tax
Monthly Employee Perquisites.
MIS Reporting.

54. 54
Reimbursements Processing
Verification of Reimbursements.
Loans & Advances Account maintenance
Query Handling and Management.
Bonus Accounting.
Statutory compliance Management
Provident Fund Management
ESI if necessary
Gratuity Management
Annuity Fund Maintenance if necessary
Profession Tax Compliances
Shops & Establishment Rules compliances
Contract Labour Rules compliances
E-TDS Returns
Issuance of Form 16’s and 24Q

55. 55
List of Reports
We can provide the following Standard Reports and Documents to our
clients:
1. Consolidated Monthly Salaries Disbursement Report.
2. Reimbursements in hold statement.
3. Provident Fund computation statement on Account wise
Remittances.
4. ESI Contributions Profession Tax report.
5. Income-tax deduction statement
6. Loans, Advances & Any other recoveries statement if
necessary
7. Employee concession Loans/Benefits if necessary
8. Employee Perquisites Evaluations.
9. Labor Welfare Fund Remittances on annual basis
Online Services:
a) Employee will be given a User ID and Password for
accessing his pay slips, tax computation and Investment
Declaration.
b) Password change
c) Submission of Investments declarations.
d) Leaves management (optional)

56. 56
INPUT DATA REQUIRED FORM THE COMPANY
Input Data Requirements from the Company
 Company Information in the required format
 Employee Information
 Employee Investment Declaration.
 Company HR Policies.
 HR Manual.
 Statutory Compliances details.
Input Data Requirements from the Company for Monthly
Payroll Processing:
1. New Joiners List
2. CTC list
3. Attendance
4. LOP/Leaves.
5. Loan/Advances details
6. Specific Data if any.

57. 57
DATA OUTPUT GENERATED BY KBG INVOLVES THE
BELOW:
 Payroll Processing
 Updating Records & Registers
 Income Tax Computations
 Pay sheets as per requirement i.e.Dept.wise, site wise.
 PF Reports
 ESI Report
 Last Month pay reconciliations
 Pay slips
 Fringe Benefit Tax and Employee Perks
 Leave Travel Computation (Periodical)
 Reimbursements handling.
OUT PUT FOR EMPLOYEE
1. Sending Pay slip through Mail.
2. Sending TDS estimation through mail
3. Personalized assistance for Tax Planning.
4. Query handling through mails.
5. ONLINE viewing of the salary and tax details

58. 58
Statutory Compliances (Monthly & Periodical)
 Form 6A, 3A, 9, 5A, 13, 12A, 11 and 2 under PF.
 Labor Welfare Fund Register
 Form 16, 12B, 12C, 24 and 12BA under Income Tax
Act.
 Filing IT Returns for employees on specific assignment.
 Profession Tax Return
 Filling of Quarterly E-TDS Return for Salaries.

59. 59
14. Maintenance of Secretarial Records
Incorporation of all types of companies, Foreign Branch
Offices / Liaison Offices in India, Wholly Owned Subsidiaries,
Joint Ventures and Limited Liability Partnerships. Services
include expert advice on Guiding the clients on the appropriate
form of organization be it Company / LLP / Partnership Firm /
Proprietary Concern.
Some of the Startup Set up Services include Incorporation of
Companies / Partnerships / Proprietary concerns / Society /
Foreign Liaison Office / Foreign Branch Office / Wholly Owned
Subsidiary / Joint Venture company / Sec 8 License Company;
obtaining Permanent Account Number (PAN); Tax Deduction
Account Number (TAN); Importer Exporter Code (IEC); Shops
& Establishment Registration (S&E); Professional Tax
Registration (PT); Provident Fund Registration (PF); Employee
State Insurance (ESI); Service Tax Registration; 100% EOU
Registration from STPI / SEZ; Customs Private Bonded
Warehouse License (CPBW); Central Excise Registration, SSI
Registration (MSME Registration); Industrial Entrepreneur
Memorandum (IEM); Trade License from local authorities etc.
A Company registered in India, has to maintain some records as
per the Companies Act, 1956.Yearly at least 4 Board meeting
has to be conducted Yearly at least 1 AGM has to be conducted
Minutes of the above meetings to be recorded and Resolutions
passed if any have to circulated In India, for a Pvt. Ltd Company
it is usually a paper meeting. But records and papers to be in tact
at all times.

60. 60
Registers and Records are:
 Shareholders register
 Directors register
 Share capital Details
 Transfers/Changes in ownership
 Board minutes
 General meeting minutes
 Meeting Attendance Registers
 Secretarial records
 Share certificates
 Common Seal
 Statutory documents
 Digital signatures

61. 61
Conclusion
The Industrial Practice School program has taken my experiences
to new heights, I got a wonderful opportunity to learn the basics of
Accounts, taxation, payroll, secretarial issues and understand the
market trends. So, it can be concluded that this program has
provided me with a golden opportunity and my company guide
and the director of the company Mr. Butchi Babu Gorantla who
has helped me a lot to exploit the wonderful break. I got training
of high quality from highly qualified professionals. I too tried up
to my best levels to give my best .The total team was very
cooperative and friendly.

62. 62
BIBLIOGRAPHY
 https://www.aces.gov.in/
 https://incometaxindiaefiling.gov.in/
 http://contents.tdscpc.gov.in/
 https://www.tin-nsdl.com/
 https://www.stpi.in/
 http://www.sezindia.nic.in/index.asp
 http://www.icai.org/
 http://www.icsi.edu/
 http://www.tallysolutions.com/website/html/index.php
 https://myascentpayroll.com/