Taxes and regulatory compliances have always been a pain point for startups and small businesses. In the spirit of supporting businesses, Taxmantra had launched the "Taxes Less Taxing (TLT)" initiative this year to give one-to-one mentoring sessions, conduct nation wide workshops and seminars on tax and regulatory issues that businesses face on a daily basis.
This workshop, as a component of the TLT initiative, aims to address the basic tax issues of startups.
Taxmantra.com is a professional services firm rendering business startup, fund raising, tax & regulatory compliance services to businesses & individuals in India, US, Singapore and middle east.
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. Indian start-up eco-system is still 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.”
One of our recent surveys 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. Also two out of four start-ups incur unnecessary pay-out by way of interests and penalties.
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