‘SUGAM’ MAKES IT EASY FOR SMALL BUSINESS ENTITIES!

Enjoy Freedom from Accounting, Audit, Scrutiny & Advance Tax by declaring 8% or higher profits

              If you asked your neighbourhood grocer or panwala whether they were filing their tax returns, they would have immediately quipped, “Saab, hum ye sab accounts or scrutiny ke chakkar mein kyun pade?” The fear of maintaining accounts and being required to face tax scrutiny have been the biggest dampeners for small business entities who earn taxable incomes, but feel shy to come forward and get on the roll of India’s taxpayers, which currently is a meager 4% of the country’s total population

              Fortunately, the ‘Presumptive Income Scheme’ in force from Financial Year 2010-11, requiring the filing of the new tax return ‘Sugam’ from the current Assessment Year 2011-12 should happily resolve these concerns. (more…)