Taxmantra.com, a pioneer in the online tax and accountancy services launches the “Taxes Less Taxing” Initiative for businesses. In the spirit of supporting businesses, this initiative would give one-to-one mentoring sessions on tax and regulatory issues that businesses face on a daily basis. These sessions would be organized across India, starting with Bangalore session this month.
Some of the recent statistics available indicate that every second Start-up gets Income Tax Notice for tax demands or for non-compliance. Around three out of seven start-ups find place on the default list of Registrar of Companies due to non-compliance. Two out of Four start-ups incur unnecessary pay-out by way of interests and penalties. And nine out of 11 businesses make TDS payments with interest. The Taxes Less Taxing initiative looks to advise businesses in avoiding such issues.
Alok Patnia, Founder of Taxmantra.com says, “This initiative is unique in the sense that there are regular workshops being organised for Start-ups and SMEs, but what is lacking is one to one attention. Every business has issues, day to day or circumstantial, which are unique to its own. These cannot be discussed on public forums. Till now, Indian start-up eco-system is at a very nascent stage. With this initiative, we wish to fill that vacuum in the eco-system and assist businesses protect themselves from unnecessary taxes, penalties by keeping their business in perfect compliance as they grow.”