monika approved

8/15/2019 Monika Approved

1/66

SUMMER TRAINING REPORT

ON

“E-TDS, E-TCS RETURN & ACCOUNTING PROCEDURE”

METHOD OPTED BY

VARDHMAN SPINNING AND GENERAL MILLS

(A UNIT OF VARDHMAN TEXTILES LTD)

Sub!""#$ "% Pu'b T#*!+ U!#.!"/

In the partial fulfillment of theRequirements for the

Degreeof

Masters of Business Administration

Submitted by:

MONIKA

University Registration No.

012334425330

DEPARTMENT OF MANAGEMENT

Gu'6+ Guu N7 I."!"u"# %8 M9##" $ T#*%+%9/ I."!"u"#

LUDHIANA

AUGUST-4100

VARDHMAN SPINNING AND GENERAL MILL


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AC:NO;LEDGEMENT

We hereby convey our deep acknowledgement to all those who made it

possible for me to complete this project, by extending their support and

continuous co-operation.

Our sincere gratitude to M!."#M$%&' (#) Madam whose

constant guidance, efforts, heartfelt support, suggestions and consideration

helped us in the successful completion of this research.



3/66

DECLARATION

We the students of Gujranwala Guru Nanak Institute f

Mana!e"ent # $e%hnolo!&' De(art"ent of Mana!e"ent'

here)& sole"nl& de%lare that the (roje%t re(ort on summer

training * %ondu%ted is the ori!inal work done )& us and

"oreo+er to the )est of our knowled!e' no si"ilar re(ort on

this +er& %o"(an& has )een su)"itted to G,G,N, Institute f

Mana!e"ent # $e%hnolo!&' De(art"ent of Mana!e"ent so

far' for the ful-l"ent of the re.uire"ent of the %ourse of

stud& under M,/,A (ro!ra",

$he (roje%t re(ort is su)"itted in (artial ful-l"ent of the

re.uire"ents for the award of the de!ree of Masters of

/usiness Ad"inistration' )ein! %ondu%ted at G,G,N, Institute

f Mana!e"ent # $e%hnolo!&' De(art"ent of Mana!e"ent,

MNI0A 12345566475528



4/66

CERTIFICATE $his is to %ertif& that resear%h (roje%t entitled 9S:MMER

$RAINING;' Su)"itted for the (artial ful-ll"ent of De!ree of

Master of /usiness Ad"inistration 1 M/A 8 of GGNIM$'

Ludhiana a


5/66

PREFACE

>R the "ana!e"ent %arrer' it is i"(ortant to de+elo(

"ana!erial skills in order to a%hie+e (ositi+e and %on%rete

results 'alon! with theoreti%al %on%e(t' the e?(osure of real

life situation in %or(orate world is +er& "u%h needed to

ful-ll this need' this (ra%ti%al trainin! is re.uired,

I underwent trainin! in VERDHMAN

$E@$ILES lo%ated at HANDHIGARH RAD' L:DHIANA,

$HIS re(ort is "& trainin! in VERDHMAN $E@$ILES as a (art

of M/A,$HE su)je%t of "& re(ort is EB$DS AND EB$S

A:N$ING PRED:RES,



6/66

TABLE OF CONTENTS

S


7/66

g+ *-$T&$ OF -TD$/TC$ RTURNh+ TD$ &RO!I$ION$i+ &R&ARATION 1 FI""IN# OF -TD$

RTURN

2+ OB3CTI! OF TH $TUD%4+ R$ARCH D$I#N 1 MTHOD OF

DATA CO""CTIONl+ $CO&5IM&ORTANC AND "IMITATION

OF $TUD%2< SUGGESTION AND RECOMMENDATION

3< SUMMARY

>< BIBLIOGRAPHY



8/66



9/66

INTRODUCTION OF VARDHMAN

GROUP OF COMPANIES

V$* #roup is a leading te6tile .onglomerate in India ha7ing a turno7er of

89:: mn; $panning o7er ing Thread5 A.r?li. Fi,re and Allo? $teel;

!ardhman #roup manufa.turing fa.ilities in.lude o7er )5::5::: spindles5 @* tons

per da? ?arn and fi,re d?eing5 :: shuttleless looms5 : mn meters per annum

pro.essed fa,ri.5 tons per da? se>ing thread5 )::: metri. tons per annum

a.r?li. fi,re and ::5::: tons per annum spe.ial and allo? steel;

!ardhman has e7ol7ed through histor? from a small ,eginning in @* into a

modern te6tile ma2or under the d?nami. leadership of its .hairman5 $;&;Os>al;His 7ision and insight has gi7en !ardhman an en7ia,le position in the te6tile

industr?; Under his leadership5 !ardhman is effi.ientl? using resour.es to

inno7ate5 di7ersif?5 integrate and ,uild its di7erse operations into a d?nami.

modern enterprise;



10/66

LOGO OF VARDHMAN GROUP

“FLAMES” signifies the gro>th of ea.h and e7er? indi7iduals asso.iated >ith it

he or she is >or4er an emplo?ee shareholders or .ustomers;

“STIC:” s?m,olies .otton5 >hi.h is ,asi. ra> material of the .ore produ.t of

!ardhman group;

“V” stands for 7ardhman group;



11/66

HISTORY

The industrial .it? of Lu$*!5 lo.ated in the fertile Mal>a region of Central

&un2a, is other>ise 4no>n as the EMan.hester of IndiaE; (ithin the pre.in.ts of

this .it? is lo.ated the Corporate headquarters of the !ardhman #roup5 a

household name in Northern India; The !ardhman #roup5 ,orn in @*5 under

the entrepreneurship of L"# L+ R"" C*$ O.6+ has toda? ,lossomed

into one of the largest Te6tile Business houses in India;

At its in.eption5 !ardhman had an installed .apa.it? of =5::: spindles5 toda? its

.apa.it? has in.reased multifold to o7er ) la.s spindles; In )< the #roup

entered the se>ing thread mar4et in the .ountr? >hi.h >as a for>ard integration

of the ,usiness; Toda? !ardhman Threads is the se.ond largest produ.er of

se>ing thread in India; In :5 it undertoo4 ?et another di7ersifi.ation - this time

into the >ea7ing ,usiness; The gre? fa,ri. >ea7ing unit at Baddi GH&+5

.ommissioned in : >ith a .apa.it? of ell as foreign mar4et; This >as follo>ed ,? entr? into fa,ri.

pro.essing ,? setting up Auro Te6tiles at Baddi and !ardhman Fa,ri. at

Budhni5Madh?a &radesh; Toda? the group has :: shuttleless looms and has

pro.essing .apa.it? of :mn meters fa,ri.s/annum;

In the ?ear the #roup has added ?et another feather to its .ap >ith the

setting up of !ardhman A.r?li.s "td;5 Bharu.h G#u2arat+ >hi.h is a 2oint 7enture in

A.r?li. Fi,re produ.tion underta4en >ith Maru,eni and 6lan of 3apan; The

.ompan? also has a strong presen.e in the mar4ets of 3apan5 Hong 'ong5

'orea5 U' and U in addition to the domesti. mar4et; Adheren.e to s?stems and

a true dedi.ation to qualit? has resulted in o,taining the .o7eted I$O ::ard >hi.h is the first in Te6tile industr? in India and ?et another

laurel to its .redit;



12/66

MISSION STATEMENT OF GROUP

!ardhman aims to ,e >orld .lass te6tiles organiation produ.ing di7erse range of

produ.ts for the glo,al te6tiles mar4et; !ardhman see4s to a.hie7e .ustomerdelight through e6.ellen.e in manufa.turing and .ustomer ser7i.e ,ased on

.reati7e .om,ination of sate-of-the-art te.hnolog? and human resour.es;

!ardhman is .ommitted to ,e responsi,le .orporate .itien;

S P OS;AL, C*!-V$* G%u?



13/66

BUSINESS OF THE GROUP

Y.

%arn Manufa.turing is the ma2or a.ti7it? of the group a..ounting for =9 per.ent of

the group turno7er; !ardhman is 7irtuall? a supermar4et of ?arns5 produ.ing the

>idest range of .otton5 s?ntheti.s and ,lended5 #re? and D?ed ?arns and Hand

'nitting %arns5 in >hi.h !ardhman is the mar4et leader in India; The group has

t>ent? one produ.tion plants >ith a total .apa.it? of o7er ) la.s spindles5 spread

all o7er the .ountr?; In man? of the ?arn mar4et segments5 !ardhman holds the

largest mar4et share; !ardhman is also the largest e6porters of ?arn from India5e6porting ?arns >orth more than U$D *: million;

S#6!9 T*#$

!ardhman is the se.ond largest produ.er of se>ing thread in the .ountr?; The

se>ing thread manufa.turing .apa.it? is ,eing e6panded from 9 tons per da? to

tons per da? in its se>ing thread plants lo.ated at Hoshiarpur5 Baddi and

"udhiana; $e>ing threads .ontri,utes per.ent of the group turno7er;

Fb!.

The group has .reated state-of-the-art fa,ri. >ea7ing and pro.essing fa.ilities in

its plant at Baddi5 Northern India; The group has installed :: shuttle less looms

and a fa,ri. pro.essing .apa.it? of : million meters per annum in .olla,oration

of To4ai $en4o of 3apan; Fa,ri.s ,usiness .ontri,utes ith Maru,eni and 3apan 6lan of 3apan; The plant has annual

.apa.it? of )::: tons per annum; Fi,re .ontri,utes ) per.ent to the total

turno7er of the group;



14/66

S"##+

The #roup is also present in upper-end of the steel industr?; The group has

manufa.turing .apa.it? of ::::: tons of spe.ial and allo? steel; The group

supplies its steel produ.ts to some of the most stringent qualit? steel ,u?ers li4e

Maruti and Tel.o; It .ontri,utes : per.ent to the total turno7er of the group;

;

;#!9

Continuing its o>ned mar.h on the .ur7e5 7ardhman group entered >ea7ing

,usiness in < >ith a .apa.it? of 9 million meter per annum;the .apa.it? has

,een su,sequenentl? e6panded to ithin this

short span5no> e6porting fairl? large 7olume of its produ.tion;



15/66

HOLDINGS

; !ardhman Holding "imited


16/66

PHILOSOPHY



17/66

PRODUCT PORTFOLIO

A"u+ 4115-1@ G%u? T%"+(

R. %#)

USD

M!++!%

S*#



18/66

Yarn 252C C6 =9

Febric 7 253 66F

Sewing

Thread

CC C 22F

Steel C6 2 23F

Power plant 24 6F

Fibre 654 55 7F

Total C27 C 233F



19/66

MAR:ET PERFORMANCE

During the last * ?ears5 !ardhman #roup has re.orded : per.ent top line

gro>th rate5 >hi.h is higher than the industr? a7erage gro>th rate; The #roupturno7er has gro>n from Rs 9-1 4113-1> 4112-4113

#ross $ales )@;<


20/66

F!!+ I$!"%. O8 V$* G%u? (USD I M!++!%.)

P"!u+. G%u? G%u? G%u? G%u? G%u?

4115-1@ 411-15 411>-1 4113-1> 4112-4113

#ross $ales @


21/66

First Indian Te6tiles Compan? to get I$O-::< and I$O-=::<

.ertifi.ate;

"argest manufa.turing e6porter of .otton ?arn in the .ountr?;

6ports to high qualit? .ons.ious li4e 3apan5 Hong 'ong5 #erman?

U' and $>iterland;

"argest produ.er of hosier? ?arns;

"argest produ.er of hand 4nitting ?arns;

$e.ond largest produ.er of se>ing threads in the .ountr?;

"argest range of te6tiles produ.ts;

"argest spinning .apa.it? in India;

"argest d?eing .apa.it? of fi,re and ?arns;

Mar4et leader in hand 4nitting ?arns in India;

Colla,oration >ith spe.ialist >orld>ide;

R& Gnterprise Resour.e &lanning+ ena,led solution for online;

B+# .*##"



22/66

M 00 M 01 M 1@ M 15 M 1

S%u#. %8 8u$.

O>nerJs fund

quit? share .apital @;@* *9;99 *9;99 *9;99 *9;99

$hare appli.ation mone? - - - - -

&referen.e share .apital - - - - -

Reser7es 1 surplus 5)*=;@ 5);:) 5


23/66

M 00 M 01 M 1@ M 15 M 1

in7estments

Contingent lia,ilities *;@@ ard in %arn Categor?

T#"!+# E?%" P%%"!% C%u!+ 411-15$il7er Top 6porter A>ard in %arn Categor?

T#"!+# E?%" P%%"!% C%u!+ 411-15



24/66

Brone Troph? in &ro.essed %arn Categor?

T#"!+# E?%" P%%"!% C%u!+ 4113-1>(orld Troph? in highest e6port in %arn Categor?

T#"!+# E?%" P%%"!% C%u!+ 4113-1>Brone Troph? for Highest #lo,al 6port Categor? GO7erall+

T#"!+# E?%" P%%"!% C%u!+ 4112-13(orld Troph? in highest e6port in %arn Categor?

T#"!+# E?%" P%%"!% C%u!+ 4112-13$il7er Troph? for Highest #lo,al 6port Categor? GO7erall+

T#"!+# E?%" P%%"!% C%u!+ 411=-12#old troph? in OU/&L for e6port of .otton ?arn



25/66

T#"!+# E?%" P%%"!% C%u!+ 411=-12Brone troph? in mill fa,ri. e6porter .ategor?

T#"!+# E?%" P%%"!% C%u!+ 4114-1=#old Troph? in OU/&L for e6port of .otton ?arn

T#"!+# E?%" P%%"!% C%u!+ 0@@5-@@$il7er Troph?

T#"!+# E?%" P%%"!% C%u!+ 0@@-@5Brone Troph?

T#"!+# E?%" P%%"!% C%u!+ 0@@>-@$il7er Troph?

G%"< %8 I$! A6$ 0@@2-3, 0@@3-@> A>ard of Merit



26/66

T#"!+# E?%" P%%"!% C%u!+ 0@@=-@2(M#*" E?%" C"#9%/ 8% Fb!.)Brone Troph?

T#"!+# E?%" P%%"!% C%u!+ 0@@=-@2(M#*" E?%" C"#9%/ 8% Fb!.)#old Troph?

T#"!+# E?%" P%%"!% C%u!+ 0@@1-11 #old Troph?



27/66

V$* 9%" PADMA BHUSHAN A6$ %

=0." M*,4101



28/66

YEARS OF ESTABLISHMENT

@*-!ardhman $pinning and #eneral Mills deals >ith (ool and it is in

"udhiana;

- Auro $pinning Manufa.turing %arn and is leading Domesti. and

International Mar4et;

- Artist $pinning Mills &ro.edure %arn and has *:::: spindles;

=- Auro D?eing D?eing Fi,re and %arn;

*-!T" !ardhman Thread "imited;

@- !MT !ardhman Maru,em Tohra7on;

9-!$#M

- Auto Te6tile &rodu.tion $tarted in $eptem,er in .olla,oration

>ith To4ai5 3apan;


29/66

FOREIGN COLLABORATION

G#".

Nisshin,o Te6tiles in.; 3apan

Fb!. D/#!9 & F!!.*!9

To4ai $en4o5 3apan

F!b# & Y D/#!9

Nihon $anmo D?eing Co; "td;5 3apan

G..#$ M##!#$ Y.

'i?ung Bang $outh 'orea

C%""% Y

Toho Ra?on5 3apan

S#6!9 T*#$

Ameri.an 1 fird In.;5 U$A

A/+! F!b#

Manu,eni .orp 5and 3apan 6lan Of 3apan



30/66

INTRODUCTION TO FINANCE DEPARTMENT

In !ardhman $pinning 1 #eneral Mills5 Finan.e Department is headed ,?

Mr; Munish 3ain GAssistant Manager+; All the >or4ing of finan.edepartment is done through R& Gnterprise Resour.e &lanning+ s?stem5>hi.h is installed in August of the state of affair of ,usiness;

A..ounting re.ords onl? monetar? transa.tions; 7ents or transa.tions5

>hi.h .annot ,e e6pressed in mone?5 do not find pla.e in the ,oo4s of a..ount though the? ma? ,e 7er? useful for the ,usiness;

The life of ,usiness is di7ided in to appropriate segments for stud?ing theresults sho>n ,? the ,usiness after ea.h segment; In a..ounting su.h asegment or time inter7al is .alled a..ounting period it is usuall? of a ?ear started from April and ended on Mar.h;

At the end of ea.h a..ounting period an in.ome statement and ,alan.esheet are prepared; The in.ome statement dis.loses the profit 1 lossmade ,? ,usiness during the a..ounting period >hile the ,alan.e sheetdepi.ts the finan.ial position of the ,usiness as on the last da? of a..ounting period; >hile preparing these statements a proper distin.tionhas to made ,et>een .apital e6penditure and re7enue e6penditure; Thea..ounting statements help the management in ma4ing rational de.isions;



31/66

NEED FOR FINANCE DEPARTMENT

.onomi. a.ti7ities are those5 >hi.h in.ludes ,u?ing and selling of goodsand ser7i.es for the purpose of profits; These a.ti7ities are related to,usiness5 the main o,2e.ti7e is to earn profit; This e6.hange is termed astransa.tion means transfer from one person to another in mone? or mone? >orth; Hen.e5 e6.hange of mone?5 goods and ser7i.es ,et>eenpersons of parties is 4no>n as to ha7e resulted in transa.tion; In ea.horganiation transa.tion are affe.ted; The goods are pur.hased from onemar4et at a .ertain rate and then these are sold in another mar4et athigher pri.e; $ometimes these goods are sold at lo> pri.e due to an?reasons; It means organiation generall? earn profit ,ut in an? of the .ase

loss; It happens due to in.urring of the ,usiness5 a parti.ular s?stem isrequired; In order to a.hie7e the purpose of re.ording the >ell-de7iseds?stem5 finan.e department pla?s a dominant role in an organiation;Finan.e department deals >ith the AC& G$uper Related A..ounting+ and

ACR GCustomer Related A..ounting+ and 0IM se.tion;

MEMBER IN FINANCE DEPARTMENT



32/66

MUNI$H 3AIN GFINANC MANA#R+

P

OM &AR'A$H G$TAFF+

P

CHANDR MOHAN $HARMA G$TAFF+

P

3%OTI DU"%I G$TAFF+

P

$AN3! G$TAFF+

P

&RI%AN'A G$TAFF+

RESPONSIBILITIES OF ACCOUNTS DEPARTMENT

A..ounting for pur.hase of stores and spares;



33/66

A..ounting for .i7il 1 ser7i.es .ontra.tors;

Fi6ed assets a..ounting;

Filling of TD$ and TC$ returns;

Issuan.e of TD$ 1 TC$ .ertifi.ates;

Cal.ulation/ dedu.tion of TD$ on salar?;

A..ounting for &u,li. Deposit;

Insuran.e a..ounting;

A..ounting for .olle.tion from >aste/ s.raps .ustomers;

&reparing 1 filling of $ales Ta6 Returns/ !AT return;

$ales Ta6 Assessments;

Ad7an.e "i.ense 1 D&B &ur.hase A..ounting;

Cash &a?ment;

Inter unit/ Inter Compan? A..ounting;

"edger $.rutin?;

Monthl? &rofit 1 loss A..ounts 1 Balan.e $heet;

Annual &rofit 1 "oss a..ounts 1 ,alan.e sheet;

5 SECRETS OF SUCCESS OF VSGM



34/66

There are hundreds of ,usiness ,oo4s and of 2ournals magaines pu,lishede7er? ?ear on su..essful ,usiness operations; There are ) se.rets of su..ess of !ardhman $pinning 1 #eneral Mills; These areK

N%" .%+#+/ 8% %#/-

First se.ret is that su..essful .ompanies are not in ,usinesssolel? for mone?;QHenr? FordQ remar4ed that a .ompan?5>hi.h onl? ma4es mone?5 is no sort of .ompan?;

Cu+"u#-

$trong .ulture5 faster than5 friendl? and goal oriented;

Cu."%#-

Tr? to understand the .ustomers >hat .ustomer a.tuall?>ants that is understand ,? !ardhman; Not 7ague idea5need aspiration and ,eha7ior;

;*" !. bu.!#..-

The? 4no> >hat is important and this is refle.ted in theirinsulation of their emplo?ees;

C%u!"!%-

$u..essful .ompanies are persistent and po>erful.ommuni.ator; &eople 4eep information and ,right idea tothemsel7es or .ommuni.ate >ith a sele.t fe> one;

S!?+!!"/-

Not a se.ret at all5 4eep >ith faith in simple pra.ti.e andprin.iples in the presen.e of the .hosen fe>;

L#$#.*!?-

"eaders in sense o7erall a.ti7ities he .ontrol a,ilit? and s4ill;

R#.u+".-Ma4e profit ,ut ma4e .ustomers delights

3 S CONSIDER IN VRADHMAN



35/66

$ortG$IRI+K-

O,2e.ti7eK - To get rid of un>anted items;

'e? Te.hniqueK - Red Tagging

S#" +%"!% $ L!!".(SEITON)-

O,2e.ti7eK - To lo.ate a spe.ifi. pla.e for spe.ifi. items of a

spe.ifi. quantit?5 >here needed;

S*!# $ S6##?(SEISO)-

O,2e.ti7eK - To use .leaning to identit? a,normalities and

area of impro7ement;

'e? te.hniqueK - 7isual and ph?si.al s>eeping using

.leaning as .he.4ing;

S"$$!# ( SHITSULE)-

O,2e.ti7eK- To sustain impro7ements and ma4e further

impro7ements ,? en.ouraging effe.ti7e use of plan5 do 5a.t

and .he.4G&ADAC+ .?.le;

'e? te.hniqueK - Red Tagging

; Auditing

ard5 re.ognition and training programs;

TOTAL PRODUCTIVITY MAINTAINENCE POLICY



36/66

(TPM)

MEANING-

T (TOTAL)- All en.ompassing ,? maintenan.e and produ.tion indi7iduals

>or4ing together;

P (PRODUCTIVITY)- &rodu.ti7it? of goods and ser7i.es that meet or

e6.eed .ustomers e6pe.tation;

M (MAINTENANCE)- 4eeping equipment and plant as good as or ,etter

than the original .ondition at all times;

POLICY-Ma6imum o7erall effe.ti7eness relia,ilit? of plant and ma.hiner?

,? aiming at LRO "O$$$ and LRO ACCIDNT through nurturingteam >or4 and .ontinuous de7elopment of all emplo?ees;

O#++ G%+. %8 TPM #-

Maintaining quipment

Using support for all areas of emplo?ees;

n.ouraging input from all the emplo?ees;

Using team for .ontinuous impro7ement;

S;OT ANALYSIS



37/66

STRENGTHS-

#ood ,rand equit?;

#ood te.hnologi.al ,ase >ith foreign .olla,oration;

High qualit? standards;

High produ.tion .apa.it?;

O>n resear.h and de7elopment department;

Relia,le human .apital;

Commitment for gro>th;;

!ardhman groups .ulture and philosoph?;

;EA:NESS-

Comparati7el? higher pri.e;

"esser degree of promotional a.ti7ities;

"ong hierar.h?;

OPPORTUNITIES-

As qualit? is good and pri.es are .omparati7el? high5 7ardhman

.an al>a?s easil? liquidate sto.4 pressure ,? slight redu.tion;

As ,rand image is 7er? good and produ.tion is too >ide5

7ardhman;

THREATS-

$maller pla?ers in the mar4et are using !ardhmans pri.es as

shield to push their produ.t at lo>er pri.es;

Companies from south are entering into "udhiana mar4et;



38/66

INTRODUCTION OF THE PROECT



39/66

RESEARCH METHODOLOGY-

Resear.h methodolog? is a >a? to s?stemati.all? sol7e the resear.h pro,lem; Itma? ,e understood as a s.ien.e of stud?ing ho> resear.h is done s.ientifi.all?;

In it >e stud? the 7arious steps that are generall? adopted ,? a resear.her in

stud?ing his resear.h pro,lem along >ith the logi. ,ehind them;

All this means that it is ne.essar? for the resear.her to design his

methodolog? for his pro,lem as the same ma? differ from pro,lem to pro,lem;

INTRODUCTION OF THE PROECT

This pro2e.t of -TD$5 -TC$ 1 a..ounting pro.edure >as assigned to me ,?

7ardhman during m? training in the .ompan?; As an essential part of our MBA

program5 I got the pri7ilege to ha7e the training >ith !rdhman $pinning and

general mill "tdQ5 "udhiana;

One .annot merel? rel? upon the theoreti.al 4no>ledge5 if

the theoreti.al 4no>ledge is a..ompanied ,? pra.ti.al one5 the ,enefits are

ma6imied; "e.tures gi7en in the .lassroom help us to understand the

fundamental .on.epts of management and also fa.ilitate the learning of pra.ti.al

things; Ho>e7er5 these le.tures must ,e .orrelated >ith the pra.ti.al situation; itis in the sense that the pra.ti.al training in the .ompan? has a signifi.ant role in

the su,2e.t of ,usiness management;



40/66

GENERAL OVERVIE;

Dedu.tor other than #o7ernment 1 .orporate ma? file TD$ return in ele.troni. or

ph?si.al form 1 for .orporate/#o7t; dedu.tor it is mandator? to file TD$ return inele.troni. form i;e TD$;

As filing of TD$/TC$ returns in ele.troni. form Ge-TD$/TC$+ is a ne> .on.ept5 to

assist dedu.tors/ .olle.tors prepare and file their e-TD$/TC$ returns5 N$D" has

pu,lished the Dedu.tors Manual

E-TDS

ntities G,oth .orporate and non-.orporate dedu.tors+ ma4ing pa?ments

Gspe.ified under In.ome Ta6 A.t+ to third parties Gdedu.tees+ are required to

dedu.t ta6 at sour.e GTa6 Dedu.ted at $our.e -TD$+ from these pa?ments and

deposit the same at an? of the designated ,ran.hes of ,an4s authorised to

.olle.t ta6es on ,ehalf of #o7ernment of India; The? should also furnish TD$

returns .ontaining details of dedu.teeGs+ and .hallan details relating to deposit of

ta6 to ITD;

As a part of automation of .olle.tion5 .ompilation and pro.essing of TD$ returns

ITD has notified an Ele.troni. Filing of Returns of Ta6 Dedu.ted at $our.e

$.heme5 ;e;f; 3une 5


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To >a7e off the hea7? ,urden of the ta6 pa?ers the go7ernment of india

has introdu.ed-TA0 DDUCTION AT $OURC;

CHARGES FOR FILING ETDS

Ma6imum fee pa?a,le per e-TD$/e-TC$ return a..eptedK

Categor? of e-TD$/TC$ return Upload .hargesS

Upto :: dedu.tee re.ords Rs;


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PROCEDURE FOR E-FILING OF TDS RETURNS

0< Ob'#"!#

The ,asi. o,2e.ti7es of .omputeriation of TD$ returns is to .ut do>n the.omplian.e .ost for dedu.tors5 to .orrelate dedu.tion of ta6es made ,?dedu.tors>ith the deposit of the dedu.ted ta6 in the #o7ernment a..ount in a designated,an4/and .orrelate dedu.tion of ta6 ,? the dedu.tors >ith the .orresponding.redits .laimed ,? the dedu.tees;In phase-I of TIN it is proposed to re.ei7e the ele.troni. TD$ returns of .orporate

dedu.tors and to digitise the paper TD$ returns of other dedu.tors;In &hase-II of TIN the >or4 relating to dematerialiation of TD$ .ertifi.ates >ill,e ta4en up so that .ross 7erifi.ation of dedu.tion ,? the Dedu.tors >ith the.laims of dedu.tees .an ,e .arried out; $ome of the issues pertaining to thiss.heme are e6plained in the form of Frequentl? As4ed uestions (FAQs) and area7aila,le on this site;

4< S*## 8% E+#"%! F!+!9 %8 TDS #"u.

The .*## 8% #+#"%! 8!+!9 %8 TDS #"u. 6. %"!8!#$ % 4>ill ,e opening their front offi.es " 24.""!%. throughout the .ountr?5 for re.ei7ing e-TD$ returns of all dedu.tors;



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N$D" >;e;f; ;:;ill set up their front offi.es .alled . ‘TIN FacilitationCentre’ at =< stations throughout the .ountr?5 for re.ei7ing e-TD$ returns >;e;f;;:; TAN/ reformatted TAN pendingin the Department5 >ill ,e disposed at the earliest;

2ill ,e done,? the IT $#?"#" #"#. and .ommuni.ated online to N$D" >ho >illintimate the same to the appli.ant;

3< P#?"!% %8 #-TDS #"u.

3 forms of TD$ returns in Form No#$% $&% ' $ Gen.losed here>ith+5 a.ontrol .hart in Form $A ha7e ,een notified ,? the Board 7ide %"!8!"!%dated;9;ith the departmental appli.ationsoft>are for pro.essing the same;3nloaded from this >e,site as also

of N$D" GhttpK//tin;nsdl;.om+ This .an also ,e o,tained from the front offi.es of N$D"; (hile preparing the e-TD$ returns5 the dedu.tor has to ensure thatfollo>ing mandator? requirements listed in Circular No#- of C"DT dated;;ith KGi+ Ta6 dedu.tion A..ount Num,er GTAN+ of the dedu.tor is .learl?mentioned in the TD$ return as also on Form No#$A5 as required ,?.ub-.#"!% (4) of se.tion e7er5 in



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.ases >here TAN is not a7aila,le the e-TD$ returns >ill also ,ea..epted if the same is a..ompanied >ith an appli.ation inForm !"for allotment or for reformatting;Gii+ Full parti.ulars relating to deposit of ta6 dedu.ted at sour.e5 in thedesignated ,an4 are .orre.tl? and properl? filled in the ta,le at itemNo;@ of Form No#$ or item No;* of Form No#$& or item No;* of Form No#$ 5 as the .ase ma? ,e;Giii+ The data in the e-TD$ return is as per the data structure pres.ri,ed,? the e-Filing Administrator;Gi7+ The Control Chart in Form $A is dul? filled in all .olumns5 signedand en.losed in paper form >ith the return on .omputer media;G7+ The Control Totals of the amount paid and the ta6 dedu.ted at sour.eas mentioned at item No; of Form No# $A tall? >ith the.orresponding totals in the e-TD$ return in Form No# $ or FormNo# $& or Form No# $ 5 as the .ase ma? ,e;In .ase an? of these mandator? requirements are not fulfilled5 the e -TD$ return>ill not ,e re.ei7ed ,? the -TD$ intermediar?;3ill.arr?out 7alidation .he.4s on the e -TD$ returns to ensure .omplian.e >itha,o7efi7e parameters5 and a pro7isional re.eipt >ill ,e issued on su..essful 7alidation;>illa..ept the e -TD$ returns; The defi.ien.? .an ,e remo7ed ,? the dedu.tor >ithin

9da?s5 failing >hi.h the e-TD$ returns >ill ,e sent ,? N$D" to the Departmentindi.ating the defi.ien.? therein for appropriate a.tion ,? the .on.erned A;O;

< U?+%$ C*9#.

$in.e e-filing of TD$ returns >ill redu.e the 7oluminous paper >or4 in7ol7ed infiling of paper TD$ returns and en.losures there,? signifi.antl? redu.ing the



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.omplian.e .ost of dedu.tors5 the e -intermediar? i;e; N$D" ha7e ,eenauthorisedto .olle.t ser7i.e .harges in respe.t of the 7arious ser7i.es ,eing rendered ,?themto the dedu.tors for upload of e-TD$ returns at the follo>ing ratesK

C"#9%/ %8 #-TDS #"u U?+%$ *9#.

Returns ha7ing re.ords of up to :: dedu.tee re.ords Rs;ill ,e pa?a,le ,? dedu.tors in addition to the

a,o7e;



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S%8"6# !+b+# 8% ?#?"!% %8 #-TDSKTCS #"u

N$D" has made a7aila,le a freel? do>nloada,le return preparation utilit? for

preparation of e-TD$/TC$ returns; Additionall?5 ?ou .an de7elop ?our o>n

soft>are for this purpose or ?ou ma? a.quire soft>are from 7arious third part?

7endors; A list of 7endor are follo>ingK

Name of the Compan? Name of the &rodu.t

National $e.urities Depositor? "td;

GN$D"+N$D" e-TD$/TC$R&U

Chartered Information $?stems &7t; "td Ta6&ro e-TD$

Cnergies Ta6-Bridge Module eTD$

Compa..a6 GIndia+ &ri7ate "imited ITRT TD$

FAM Info $?stems as?TD$

Fast Fa.ts Computer $?stems "td e-TD$ (iard

Fortune Informati.s "imited eTa6file

'; D; '; $oft>ares GIndia+ &7t; "td Len TD$

'%&RO &"U$ 'eTD$

"a4e.it? (e, &ri7ate "imited -TD$ Utilit?

Mash,ra Industries &7t;"td;$oft>are on -TD$ >ith automati.

.al.ulation

MC$ Computer $er7i.es &7t; "td; !TD$:* G!R ares "imited FastTD$ / FastTC$

Milestone TD$ $olutions



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NA$ $oft>are Consultants &7t "td NA$ e-TD$

STAGES OF TAX DEDUCTION SOURCE

TA0-&A%R


TA0-&A%R

&R$ON "IAB" TO &A%TA0

#O!RNMNT


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FORMS TO BE USED FOR FILLING ANNUALKUARTERLY

TDSKTCS RETURN

F%

N%<

P"!u+. P#!%$!!

"/

Form No;


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3 ."#?. "% #-TDSK#-TCS #"u

; The data stru.ture Gfile format+ in >hi.h the e-TD$ / e-TC$ return is to ,eprepared has ,een notified ,elo>K

Ga+ Annual e-TD$ returnK

o File Format for Form


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o $ample file of e-TD$ return - Form e,-site;

Annual ReturnsK

a.h e-TD$ return sa7ed in a CD/&en Dri7e to ,e su,mitted along >ith a

signed .op? of the .ontrol .hart GForm ith a

signed .op? of the .ontrol .hart GForm


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uarterl? ReturnsK

a.h e-TD$/TC$ return sa7ed in a CD/&en Dri7e to ,e su,mitted along

>ith a signed .op? of the .ontrol .hart GForm hi.h .ontains .ontrol totals of Jamount paidJ

and Jin.ome ta6 dedu.ted at sour.eJ; The .ontrol totals of Jamount paidJ and

Jin.ome ta6 dedu.ted at sour.eJ mentioned on Form No; ith

the .orresponding .ontrol totals in e-TD$/TC$ return; A separate Form No;


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e-TD$/TC$ return should ,e prepared in a..ordan.e >ith the data stru.ture GFile

Format+ pres.ri,ed ,? the e-filing administrator; $eparate data stru.ture has

,een pres.ri,ed for ea.h t?pe of form >hether it is annual return Gup to F% e,sites;

F!+# V+!$"!% U"!+!"/ (FVU)

F!U is program de7eloped ,? N$D"5 >hi.his used to as.ertain >hether the -

TD$/TC$ return files .ontains an? format le7el errors; (hen ?ou pass -

TD$/TC$ return through F!U5 it generates an error/response file; If there are no

errors in the -TD$/TC$ return file error/response file >ill displa? the .ontrol

totals; If there are error5 the error/response file>ill displa? the error lo.ation and



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error .ode along >ith the error .ode des.ription; In .ase ?ou find an? error5 ?ou

.an re.tif? the error and pass the -TD$/TC$ return file again through F!U till

?ou get an error-free file;

U?+%$ 8!+# ! "*# #6 F!+# V+!$"!% U"!+!"/ (FVU)

arlier the -TD$/TC$ return file after 7alidating using file 7alidation utilit?GF!U+

had to ,e filed >ith TIN-FC;no> Upload File that is generated ,? the F!U >hen

the returnis 7alidated using the F!U has to , filed >ith TIN-FC; This Upload File

is a file >ith the same filename as the Input file ,ut >ith

e6tension;f7u;6ampleInput file name is ill ,e e,site;

T*# b.! $#"!+. "*" .*%u+$ b# !+u$#$ ! "*# %8 #-TDSKTCS #"u

Follo>ing information must ,e in.luded in the e-TD$/TC$ return for su..essfula..eptan.e; If an? of these essential details is missing5 the returns >ill not ,ea..epted at the TIN-FCsK

; Corre.t Ta6-dedu.tion/.olle.tion A..ount Num,er GTAN+ of thededu.tor/.olle.tor should ,e .learl? mentioned in Form No;


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I. "*# ?%#$u# 8% 8!+!9 %8 #-TCS $!88##" 8% "*" %8 8!+!9 #-TDS#"uJ

The pro.edure for filing of e-TC$ return is the same as that of e-TD$ returne6.ept the forms to ,e used is different; The rele7ant forms for filing the e-TC$return areKa+ Annual returnK Form No;


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N%.< 42 & 4> F% N%< 4 F% N%< 4E

April to 3une * 3ul? * 3ul? * 3ul?

3ul? to

$eptem,er

* O.to,er * O.to,er * O.to,er

O.to,er toDe.em,er

* 3anuar? * 3anuar? * 3anuar?

3anuar? toMar.h

* Ma? * Ma? * Ma?

TDS PROVISIONS IN BRIEF ;


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(INNIN# FROM "OTTR% OR CRO$$(ORD

&ULL" CARD #AM OR OTHR#AM OF AN%

$ORT TO A R$IDNT/NON-R$IDNT

:5:::/-

&;A

:

=< SECTION-0@2C

PAYMENT TO ARESIDENT CONTRACTORSKSUB

CONTRACTORS

NOT

EXCEED

A+ INDI!IDUA"/HUF CONTRACTOR$ :5:::/-

&;A

B) OTHR THAN INDI!IDUA"/HUF

CONTRACTOR$

OR


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RENT O A RESIDENT 5):5:::/

-&;A

+ RNT FOR U$ OF &"ANT5MACHINR% OR

UI&MNT


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P#?"!% %8 E-TDSKTCS #"u

-TD$/TC$ return has to ,e prepared in the data format issued ,? e-Filing

Administrator; This is a7aila,le on the In.ome Ta6 Department >e,siteG>>>;in.ometa6india;go7;in+ and N$D"-TIN >e,site G>>>;tin-nsdl;.om+; There isa 7alidation soft>are GFile !alidation Utilit?+ a7aila,le along >ith the datastru.ture >hi.h should ,e used to 7alidate the data stru.ture of the e-TD$/TC$return prepared; The e-TD$/TC$ return should ha7e follo>ing featuresK

Ga+ a.h e-TD$/TC$ return file should ,e in a separate CD/flopp?;

G,+ a.h e-TD$/TC$ return file should ,e a..ompanied ,? a dul? filled andsigned G,? an authorised signator?+ Form No;


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OECTIVE OF THE STUDY

First main o,2e.ti7e for this pro2e.t report is to prepare the report for m?

MBA training; To stud? the >or4ing of -TD$ and -TC$;

To 4no> the pro.edure for filling the -TD$ and -TC$ return;

To 4no> a,out the Annual and uarterl? returns of the -TD$ and -TC$;

To stud? the se.tions .omes under this aspe.t;

Also 4no> the forms .onsider in this stud?;



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R#.#* $#.!9 $ M#"%$ %8 $" %++#"!%

R#.#* $#.!9

; A# %8 "*# ."u$/ The area of stud? on the gi7en pro2e.t >as 7ardhman

spinning and general mill5"udhiana;A e6plorator? resear.h design is

.onsider ,e.ause all the stud? >as done in 7ardhman .ompan?;4as .ompleted in the proposed time

period of si6 >ee4s the month of 2ul? and august;

M#"*%$ O8 D" C%++#"!%

,# Data collection Metod0 This stud? in.ludes the se.ondar? data >hi.h

ha7e ,een alread? a7aila,le;$# Data collection tec1ni2ue0 Secondary data was collected by the

internet boo!s and "ast records o# the com"any.=


61/66

S%?# %8 "*# ."u$/

As the stud? of -TD$ and -TC$ .onfined to 7ardhman spinning and generalmills;ludhiana;in this stud? >e 4no> a,out the go7t; rules and implementations

thats .omes under this .on.ept; Through this >e a,out the pro.edure for filling

the ele.troni.all? returns of -TD$ and -TC$;at last >e .an that there is a 7er?

7ast s.ope of this stud?;

L!!""!%. %8 "*# ."u$/

Through .arr?ing out the resear.h stud? >as a learning and enri.hing

e6perien.e5,ut I also fa.edsome .onstraints and limitations;

; TD$ and TC$ is 7er? 7ast topi.5so .onsider the >hole .on.ept is 7er?

diffi.ult;


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!ardhman spinning and general mill perform >or4 properl? a..ording to their o>n

>a? ;,ut m? suggestion is thatK-

!ardhman mill perform their all ta6 related >or4 in 0C" the? most pro,a,le

use soft>are for filling returns;

$o m? suggestion is that the? use the soft>are for filling TD$ and TC$ returns;

B? this >or4ing of the .ompan? is de7elop;

B!#8 Su/

In this pro2e.t gi7es the o7er7ie> for -TD$ and -TC$;



63/66

E-TDS

ntities G,oth .orporate and non-.orporate dedu.tors+ ma4ing pa?ments

Gspe.ified under in.ome ta6 a.t+ to third parties Gdedu.tees+ are required to

dedu.t ta6 at sour.e GTa6 dedu.ted at sour.e-TD$+ from these pa?ments and

deposit the same at an? of the designated ,ran.hes of ,an4s authoried to

.olle.t ta6es on ,ehalf of go7ernment of india;The? should also furnish TD$

returns .ontaining details of dedu.tees and .hallan details relating to deposit of

ta6 to ITD GIn.ome ta6 department+;

E-TCS

TC$ means .olle.tion of ta6 at sour.e ,? the seller G.olle.tor+ from the ,u?er

G.olle.tee/pa?ee+ Of the goods Gspe.ified u/s ill pa? an amount of Rs;:5:::/-0 G0 ,eing the 7alue as TC$ as

pres.ri,ed under in.ome ta6 a.t5 @+ to the seller; The seller >ill deposit the

ta6 .olle.ted at sour.e GTC$+ at an? of the designated ,ran.hes of the authoried

,an4s;



64/66

B!b+!%9?*/

All related matter to this pro2e.t are .olle.ted through follo>ingK-

>>>;7ardhman;.om >>>;nsdl;.om

$tud? the pre7ious re.ord and pro2e.t;

$ome .on.ept ta4en from the Boo4 DIRCT TA0$Q;

Also sear.h related matter through INTRNT;

!rdhman magaines and files


http://www.vardhman.com/http://www.nsdl.com/http://www.vardhman.com/http://www.nsdl.com/


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monika approved

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