Professional Documents
Culture Documents
2012
Summer Training
Project
TAXATION ( E-FILING) and
FINANCIAL INSTRUMENTS
Submitted By:
Name of student: MOAZ AHMAD MALIK
Roll no. - 05396403913
Batch: 2011-2013
INDEX
S.NO.
TOPIC
PAGE NO.
1.
ACKNOWLEDGEMENT
2.
DECLARATION
2.
INTRODUCTION
3.
11-14
5.
SWOT ANALYSIS
15-17
6.
7.
TAX
21-29
8.
FINANCIAL INSTRUMENTS
30-33
9.
E-FILLING
34-46
10.
47-51
11.
CONCLUSION
52
12.
LIMITATION
53
13.
SUGGESTION
54
14.
BIBLOGRAPHY
55
7-10
18
CERTIFICATE
This is to certify that the project work TAXATION (E-filing) and FINANCIAL
INSTRUMENTS made by Moaz Ahmad Malik is an authentic work carried out by her under
guidance and supervision of MR ANISH KUMAR.
The project report submitted has been found satisfactory for the partial fulfillment of the degree
of MBA
Internal Supervisor
Signature
ACKNOWLEDGEMENT
DECLARATION
I hereby declare that the following documented project report titled TAXATION (E-filing) and
FINANCIAL INSTRUMENTS is an original and authentic work done by me for the partial
fulfillment of MBA program at SPA Capital
I hereby certify that all the Endeavour put in the fulfillment of the task are genuine and original
to the best of my knowledge & I have not submitted it earlier elsewhere.
INTRODUCTION
Taxation
Taxation refers to the act of a taxing authority actually levying tax. Taxation as a term applies to all types
of taxes, from income to gift to estate taxes. It is usually referred to as an act; any revenue collected is
usually called "taxes."
Taxation can also refer to taxes as an abstract concept, an actual dollar amount of tax that has been levied
or the material funds that have been received as taxes. Although all of these definitions are technically
correct, the one listed above is the most common. Taxation is one of the primary powers of government
over the people.
What is E-Filing?
The process of electronically filing Income tax returns through the internet is known as e-filing.
It is mandatory for companies and Firms requiring statutory audit u/s 44AB to submit the Income tax
returns electronically for AY 2007-08 onwards.
E-filing is possible with or without digital signature.
Capital Market: The market where investment instruments like bonds, equities and
mortgages are traded is known as the capital market.
The primal role of this market is to make investment from investors who have surplus
funds to the ones who are running a deficit
2. INTRODUCTION
SPA Group was promoted by a team of finance professionals in 1995 with an objective to
provide value added financial services. Initially, the Group focused as a niche financial solutions
provider in corporate finance and wealth management to Indian companies and high net worth
individuals. In January 2000, the Group expanded its operations and the range of services.
Today, SPA provides services for securities broking, merchant banking, wealth management,
financial advisory, corporate finance, risk management and insurance broking.
SPA is being managed by its promoters along with a young and dynamic team of over 1000+
professionals with rich experience, in their respective fields. The Group has established itself as
one of Indias leading financial advisory house, offering various financial solutions to its
Institutional, corporate and individual clients.
Customer centric approach of SPAs dedicated professional team has helped carve a niche for
itself in financial services arena and won confidence of its clients. Clients of SPA are from a
wide spectrum and comprise of Banks and other financial institutions, Mutual funds, Insurance
companies, foreign institutional investors, public sector undertakings and government
departments, private corporate, trusts and individuals.
Company is operating in finance sector. There are following areas under the company or in
which the company deals/work.
1. SPA Capital Services Limited
2. SPA Merchant Bankers Limited
3. SPA Securities Limited
4. SPA Insurance Broking Services Limited
5. Financial management system
3. COMPANYs VISION AND MISSION
VISION
Vision, a compelling view of a future yet to be, creates meaning and purpose which catapults
both individuals and organizations to high levels of achievement. We create meaning in our lives
by pursuing our future visions, and we refine our visions based on the meaning we are
discovering through our experience.
MISSION
A mission statement is a statement of the purpose of a company and organization. The mission
statement should guide the actions of the organization, spell out its overall goal, provide a path,
and guide decision-making. It provides "the framework or context within which the company's
strategies are formulated.
4. Organizational structure
Trainee
Mr. Anish is our leader in his leadership I had completed my summer training. He is a financial
advisor and a good leader he guides us very well throughout our training period.
I interact with other employees of the company as follows;-
1.
2.
MR ANISH -SR.MANAGER
3.
4.
MS.DIVYA - EMPLOYEE
5.
CHAPTER-2
It refers to the method adopted to collect the relevant data and other information, which forms
the basis of the research writing. So, for the effective writing of this report, the data must be
quality oriented.
2.2.1 Research Design:
Research design or model indicates a plan of action to be carried out in connection with a
proposed research work.
Descriptive research design has been used for conducting the study as to know the clients
acceptance to the SPAs services.
2.2.3.1 Population:
Population for the purpose of this study consists of all the corporate employees who have filed
their ITR through SPA Capital.
Elements: Corporate employees
Extent:
Frame:
The frame is the source from which the data has been collected. E.g. companys database,
telephone directory etc.The frame for the purpose of my study is the SPAs database.
2.2.3.2 Sample size:
A sample is a part of a population or a subset from a set of units taken with the object of
investigating the properties of parent population or set.
As it is very difficult to get the feedback of each and every client of SPA because of time and
resource constraint, a sample size of 50clients is taken.
An optimum sample size in a survey is which represent the population very well and reliable and
flexible. The sample should be small enough to avoid unnecessary expenses and large enough to
avoid intolerable sampling error.
Sampling unit:
The sampling unit of my study is the corporate employees.
2.2.3.3 Sampling Technique:
Sampling is simply the process of learning about the population on the basis of a sample drawn
from it. Thus in the sampling technique instead of every unit of the universe only a part of the
universe is studied and the conclusions are drawn on that basis for the entire universe.
Convenience Sampling and the Judgment Sampling method are used to select the sample as to
ensure that the sample should represent the whole population and at the same time to save the
time.
2.2.4 Method of data collection:
The data has been collected using following instruments:
Secondary Data - Secondary data, on the other hand, is basically primary data
collected by someone else. Researchers reuse and repurpose information as secondary
data because it is easier and less expensive to collect. However, it is seldom as useful
and accurate as primary data.
Primary data
2.2.5 Limitation
2. It is a time consuming method it required lot of time to collect data about spa from
corporate clients.
3. The study may suffer with the Nom-response error i.e. the responses were not given
by some sampling units.
4. The primary data used in the study may also suffer from some defects like human
biasness, inconsistency or ambiguity in the answers, wrong interpretation of the
questions by respondents, measurement error, and data analysis error
5. As the secondary sources are used. These may be biased.
Chapter 3
SWOT analysis
3.1
The Group has established itself as one of Indias leading financial advisory
house, offering various financial solutions to its Institutional, corporate and
individual clients.
Large no of clients
Association with SPA can enable clients to avail a variety of financial services
from a single source
3.2
3.3
Keeping in mind what you have listed as your company strength. SWOT Analysis can
now influence the opportunities of the company. This can be seemed as a target to
achieve an exploit in the future.
Good financial position creating a good reputation for future bank loan &
borrowing.
Broadband technology has been installed in the area useful internet users.
Skill work force i.e. they can be trained & move into other area of business
3.4
The final part of the analysis can also be seen as the most feared the threat. It has
to be done & therefore taking into account what you have listed as a weakness. The threat will
now also seem to clear-
Chapter 4
Finding and analysis
Income Tax Return
Obligation of filling Tax Return
It is a legal obligation for every individual to file a return of income, whose taxable income during the
year has exceeded the exemption limit.
Documents Required:
ITR
4
ITR
1
ITR
ITR
3
ITR
2
Individuals not having any income
on account of carrying out
business/profession or on account of
being a partner in a partnership firm.
ASSESSMENT YEAR: it is defined as a year in which the income of the previous year is
to be assessed and this is known as the tax year also.
PREVIOUS YEAR: It means income year which immediately proceeds the assessment
year.
Income Tax Act of 1961
The major tax enactment in India is the Income Tax Act of 1961 passed by the Parliament, which
imposes a tax on income of individuals and corporations. This Act imposes a tax on income
under the following five heads
However, this Act is about to be repealed and be replaced with a new Act which consolidates the
law relating to Income Tax and Wealth Tax, the new proposed legislation is called the
Direct Taxes Code (to become the Direct Taxes Code, Act 2010). Act was referred to
Parliamentary standing committee which has submitted its recommendations. Act is expected to
be implemented with changes from the Financial Year 2013-14.
Income tax return is a term which is often used when we talk about income tax. It is a
way by which we pay this tax. When total annual income of a person, including all
sources, is more than maximum exemption limit ( at present it is Rs 180000/- and 190000
for female ) then that person is liable for income tax return.
According to Income Tax Act 1961, every person, who is an assesses and whose total
income exceeds the maximum exemption limit, shall be chargeable to the income tax at
the rate or rates prescribed in the finance act.
Standard Income Proof: ITR is Considered Customary income proof not only
in India but also globally. if you are looking for higher education or employment
abroad, ITR is largely accepted income proof.
Speed your loan application process: Apart from a good Credit history, the fact
that you are filling your ITR regularly gives you speedier access to credit.
Claim your Tax Refund: Filling ITR is not always about paying Tax, It can be
used as a means to reduce your tax liability. e.g Salaried employees for whom
TDS has been cut during the financial year can claim refund if the tax outgo has
been more than the actual tax payable.
Tax
0 to 2,00,000
No Tax/exempt
2,00,001 to 5,00,000
10%
5,00,001 to 10,00,000
20%
Above 10,00,000
30%
India Income tax slabs AY: 2014-2015 for Senior citizens (Aged 60 years but
less than 80 years)
Income tax slab (in Rs.)
Tax
0 to 2,50,000
No Tax/ exempt
2,50,001 to 5,00,000
10%
5,00,001 to 10,00,000
20%
Above 10,00,000
30%
India Income tax slabs AY: 2014-2015for very senior citizens (Aged 80 and
above)
Income tax slab (in Rs.)
Tax
0 to 5,00,000
No Tax/exempt
5,00,001 to 10,00,000
20%
Above 10,00,000
30%
Surcharge: The surcharge on Income Tax for Individuals for total income exceeding Rs.10 lacs
stands removed.
Education Cess: 3% of the Income-tax.
Note:
Education Cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there
is any.
A marginal relief under section 89(1) provides that if an individual receives any portion
of his salary in arrears or in advance, or receives profit in lieu of salary, he can claim
relief in respect of such salary received.
2.
Taxes deducted at sources (TDS) on your behalf from the payments receivable
by you.
3.
It is the constitutional obligation of every person earning income to compute his income and pay
Tax correctly.
ADVANCE TAX
Advance tax is paying a part of your yearly taxes in advance. Advance tax should be paid in the
year in which the income is received. Advance tax is applicable when an individual has sources
of income other than his/her salary.
For instance, if one is earning through
Capital gain
Interest on individual
Lottery
House property
Business
If the assesses does not pays the advance tax as described above, an interest of 1% is charged per
month for 3 months for the deferment of advance tax instalments. If the total amount of advance
tax is not paid on or before 15 March, an interest of 1% is charged per month.
The total income of a person is divided into five heads, viz., taxable.
1. Income from salary.
2) House property Income :- Unlike the other heads of income, income from house
property is a notional income based on a concept called annual value. This is the value a
property is expected to fetch if it is let out. it may be more than actual rent being received
if let out. If it is not let out the expected market or fare rent will be considered as annual
value for the purpose of taxation. Property includes the building and the land
surrounding it.
3) Income from capital gain :- Surplus from capital assets from transfer of it.Eg
archaeological collection, drawings, paintings, sculptures, any other work of art. Thus,
now any surplus received from sale of these articles would be liable to tax under the head
capital gain.
but does not include some items like any stock-in-trade for businesses and personal effects.
Transfer has been defined under section 2(47) to include sale, exchange, relinquishment of asset,
extinguishment of rights in an asset, etc. certain transactions are not regarded as Transfer under
section 47.
For the tax purpose,
There are two types of capital assets:
Long term Capital Assets: Long term asset are held by a person for three years except in case
of shares or mutual funds which becomes long term just after one year of holding. Sale of such
long term as sets gives rise to long term capital gains.
Short term Capital Asset: Any Capital gain arising out of asset transferred or sold before 12
months or 36 months depending on the asset, qualifies for STC.
4) Income from Business or Profession :- Any type of income received from business.
5.) Income from other Sources :Dividend, commission, lotteries, crossword puzzles, races including horse races, bull races, card
games, any sort or from gambling or betting, or from any Key man insurance policy.
1.
2.
3.
4.
Section
Maximum Limit
80D
Maximum Up to Rs.
15000 or
80DD
20000 in case of
senior citizen
Rs. 50000/-
irrespective of the
amount.
80DDB
80E
Entire amount or
Maximum deduction
for interest paid for a
maximum
of 8 years
80G
Maximum deduction
allowed can be 50%
or 100% of the
donation Subject to
stated limits as
provided under this
section.
80GG
Maximum deduction
allowed is least of
the following:
1) Rs.2000 per
month;
2.) 25% of total
income
3.)excess of rent paid
over 10% of total
income
80GGC
Amount donated to
Political parties is
full exempt
80U
Maximum Deduction
allowed up to R.s
100000/-
80CCF
Maximum deduction
allowed 20000
Section 10A
HRA Allowance
Section 24
Maximum deduction
150000 (self
occupied).
PRIMARY MARKET
The primary market is an intermittent and discrete market where the initially listed shares are
traded first time, changing hands from the listed company to the investors. It refers to the process
through which the companies, the issuers of stocks, acquire capital by offering their stocks to
investors who supply the capital. In other words primary market is that part of the capital
markets that deals with the issuance of new securities. Companies, governments or public sector
institutions can obtain funding through the sale of a new stock or bond issue. This is typically
done through a syndicate of securities dealers. The process of selling new issues to investors is
called underwriting. In the case of a new stock issue, this sale is called an initial public offering
(IPO). Dealers earn a commission that is built into the price of the security offering, though it
can be found in the prospectus
SECONDARY MARKET
The secondary market is an on-going market, which is equipped and organized with a place,
facilities and other resources required for trading securities after their initial offering. It refers to
a specific place where securities transaction among many and unspecified persons is carried out
through intermediation of the securities firms, i.e., a licensed broker, and the exchanges, a
specialized trading organization, in accordance with the rules and regulations established by the
exchanges
Types of Investment Avenues
When a person has more money than he requires for current consumption, he would be potential
investor. The investor who is having extra cash could invest it in assets like stocks or gold or real
estate or could simply deposit it in his bank account. All these broader sense mean investment.
Investment can be defined as a process of, sacrificing something for the prospect of gaining
something later
So, the definition implies that we have four dimensions to an investment- time, todays sacrifice
& prospective gain.
Various investment alternatives are: Fixed Deposit
Recurring Bank Deposit
EPF
PPF
Life Insurance
Mutual fund
Equity Share
Debenture/Bonds
Fixed Deposits
1. The term fixed in fixed deposit denotes the period of maturity or tenor. Fixed
deposits, therefore, pre-suppose a certain length of time for which the depositor
decides to keep the money with the bank & the rate of interest payable to the
depositor is decided by this tenor. According to a relatively new provision amount
saved in fixed deposits of term at least five years is eligible for income tax
deduction under section 80C of Indian Income Tax Act.
Under a Recurring Bank Deposit, we invest a specific amount in a bank on a monthly basis for a
fixed rate of return. The deposit has a fixed tenure, at the end of which you get your principal
sum as well as the interest earned during that period. A Recurring Bank Deposit, by definition, is
supposed to appreciate in value over time. However, the rate at which it appreciate is predetermined y the rate of interest specified. It accumulates money at a fixed rate, compounded
quarterly or as the bank may specify, & your investment appreciate regularly during the tenure of
the account. Since capital appreciate in any investment option depends on the safety of that
option, & banks being among the safest avenues, the increase in investment is modest.
Life Insurance
A life insurance policy is a contract between an individual (termed as insured) & an insurance
company (insurer) to pay the insured, or his nominated heirs, a specified sum of money on the
happening of an event. The event could be the expiry of the
Insurance policy or the insured before the expiry of the policy as per the terms of the policy.
There are main variants of a life insurance policy:
Whole Life Assurance Plans: These are low-cost insurance plan where the sum assured is
payable on the death of the insured.
Endowment Assurance Plans: Under these plans, the sum assured is pay-able on the
maturity of the policy or in case of death of the insured individual before maturity of the
policy.
Term Assurance Plans: Under these plans, the sum assured is payable only on the death of
the insured individual before expiry of the policy.
Pension Plans: These plans provide for either immediate or deferred pension for life. The
pension payments are made till the death of the annuitant unless has provision of
guaranteed period.
Any Life Insurance premiums (for one or more insurance policies) paid by the individual
for himself/herself, his/her spouse or children are eligible under income tax deduction
under section 80C of Indian Income Tax Act.
Mutual Funds
Mutual funds are investment companies that use the funds from investor from investor to invest
in other companies or investment alternative. They have advantage of professional management,
diversification, convenience & special services. Mutual funds come in various types, allowing
you to choose those funds with objectives, which most closely match your personal investment
objectives. Mutual fund schemes may be classified on the basis of its structure & its investment
objective.
ELSS Equity Linked Saving Schemes: Any investment made in certain Mutual Funds called
equity linked saving schemes qualifies for section 80C deduction. It is to be noted that not all
mutual fund investments are eligible for this deduction
Debentures/Bonds
A Bond is a loan given by the buyer to the issue of the instrument. Companies, financial
institutions, or even the government can issue bonds. Over & above the scheduled interest
payments as & when applicable, the holder of a bond is entitled to receive the par value of the
instrument at the specified maturity date. Bonds may be secured or unsecured.
Bonds can be broadly classified into:
Tax-Saving Bonds
It is mandatory for companies and firms requiring statutory audit u/s 44AB to submit the
income tax returns electronically from AY 2009-10.
Any company/firm requiring statutory audit u/s 44AB return submitted without a e-filing
receipt will not be accepted.
TYPES OF E-FILING:
the
Property details.
Birth date.
TAN number
Email id.
Address details.
2) Click the link e- file income tax return at the top left corner of the home page
3) Select the correct form there are two income tax forms for salaried individuals. ITR-1 is
for those who derive their income from salary, pension or interest while ITR-2 is for
income from capital gains, house property and other sources.
Those who wish to submit their tax returns manually may download the PDF forms external
website that opens in a new window form here. These forms need to be printed, filled by hand
and signed before submitting to your local income tax office.
4) Use of return Preparation Software Those citizens who wish to avail the e-filing system
need to download the return preparation software-external website that opens in a new
window for each ITR form. This software is an excel file that requires one to type in
personal details as well as financial information from TDS certificates, bank statements,
deductions made and interest statements.
5.) Generating an XML file After filling the details, check once for accuracy. After you are
satisfied, click the generate button to create your tax return in XML format. Save this
XML file on your computer.
6.) Register The next step requires you to register at the income tax website external
website that opens in a new window. You registered Permanent Account Number (PAN
card) has to be entered as your username.
7.) Login after registering, enter your user id and password to login. Click on the relevant
form on the left panel and select submit return.
8.) Upload XML browse to select the XML file, which you had generated and saved in
step 3. Click on the upload button to upload the file.
9.) Acknowledgement after the file is successfully uploaded, acknowledgement details or
the ITR-V form will be displayed. Take a printout of this acknowledgement for your
records.
Digital signature if your income tax return was digitally signed, then no further paperwork or
Visit to the income tax office is needed but if it was not digitally signed, in this case the ITR-V
form should be filled and send to Income Tax office, Bangalore.
You need to Print and fill up the verification part of the acknowledgement cum Verification form
(ITR-V). This has to be signed and submitted to the local income tax office within 60 days to
complete the e-filing process.
Additional assistance In case you require any more help in filing the paper copy of the return,
please contact the public relations officer at your local income tax office. One may also phone
the Aayakar Sampark Kendra (ASK) call centre at 124-2438000 or email at
ask@incometaxindia.gov.in
ADVANTAGE OF E-FILING.
E-filing is easy, fast, and the most reliable and secure method.
Fast Processing: The acknowledgment of ITR submission is fast and the refunds are
processed faster by the ITD for E-Filed ITRs.
More Accurate: E-Filing software with built-in validations and electronic connectivity
to ITD are seamless and help minimize errors. Paper based filing with self calculations
can be prone to error. Also, when any paper based form is transferred to electronic
system, there is always a possibility of human error in data entry.
No Time , place constraint: You can file anytime, anywhere. E-Filing is available 24
hours a day, seven days a week, so taxpayers may always file at their own convenience.
More Secure than Paper based filing: E-filing is safer than paper based filing. With
paper based filing your confidential identity information is lying in files and can be
passed from person to person in the CAs office or in ITDs office.
You can easily access and use your data for future returns: Most of the paid E-filing
software applications store your data in a secure manner and allow you to access it
whenever you are ready to file subsequent returns.
It is good for the environment: E-Filing is environment friendly. You just need to print
no or at most one page instead of multiple copies of multiple pages that is required in
case of paper based filing.
DISADVANTAGE OF E-FILING:
E-filing doesnt have many disadvantages but some time technological problems occur at the
time of filing ITR online.
Lack of control is another issue that certain individuals have with e-filing. Using an
electronic technology that you may not thoroughly understand can be daunting and the
idea of a paper-based tax return over which you have more control is more comfortable.
Other than small provider fee, however, there arent many reason the average taxpayer
wouldnt want to consider giving e-filing a try.
Physical filing are filled in only original form, form cant be download by internet.
Physical filings are not filled by some companies when the annual salary of user is not
more than 5 Lac.
How SPA Capital Services Limited Files ITRs Of its Prospective Clients:
SPA capital services ltd. Files approximately more than 18000 ITRs of its Prospective
Clients all over India.
The Employees who are engage in this process are Divided at three locations
Noida
Gurgaon
Distributes Questionnaires form to their Clients (Different companies), now these trainee
students Collect completely duly filled questionnaires forms and Form 16 of every Client
and if any query arise from the client side, with the help of their mentor they solve it.
If the Income of employees are less than 5 lakh, they filled ITRs Physically/Manually.
Income more than 5 lakh, they send it to Janakpuri location for e-filing.
2. With the help of Computax software, generates XML file of respective ITRs.
5. These Token number and Acknowledge are keeps for future benefits.
Note: People from outside Delhi send theirs form 16 and filled questionnaires via e- mail
with the help of using Company link to get filled theirs ITRs and Janakpuris employees
do it.
E-filing (80%)
Physical filing (20%)
ITR 1 (85%)
ITR 2 (10%)
ITR 4 (5%)
The most common notion among salaried employees is that since tax has already been
deducted from their salary, there is no need to file their income tax returns. This is not at
all true or legal. Even though tax has been deducted and there is no further liability to pay
tax, an employee has to compulsorily file his / her income tax return. Form No. 16
received from employer is not their income tax return.
Employees do not include the interest that they receive on their savings bank account.
The entire interest earned on your savings bank account is taxable.
Omission of income received by a minor child. A minor child is not required to file a
separate return of income. However, this income has to be included in the hands of either
of the parents, although it might be a small amount of bank interest.
Chapter 5
Finding and interpretation
1. What will u prefer at the time of ITR filling?
Sales
depends on
time
20%
e-filling
39%
any
16%
physical filling
25%
Interpretation
In this survey has taken from some group if people and they answer about the question that how
much they like to fill their ITR. Mostly people like to fill their ITR by online process. Then some
25% people like to fill physical filling .some of people dont bother about the way they prefer
any present way to fill the ITR.
Sales
yes
no
highly satisfied
21%
42%
32%
5%
Interpretation
In this some people who are using the SPA capital services or have used the spa capital services
in past .mostly(21%) people are highly satisfied with the services provided by the SPA
capital.(32%) people never think about the satisfaction about services they are using .but some
people are not satisfied with their services.42% are satisfied but not highly.
Sales
no
yes
sometime
mostly
1%
11%
11%
77%
Interpretation
SPA capital files ITR only for some time period of year. (77 %) of the people says
that they are not using SPA capital services to file ITR. (11%) people say that they
are using SPA capital services to file ITR.
FINDINGS
Regarding the effectiveness of selling strategy income tax return of SPA following
analysis could be done. The overall the selling strategy is effective but still there are
some problems which can be solved thorough better performance and taking some
corrective measures.
Most of the clients are from the income group of Rs 3-5 Lakh which can be
Many few people are there who are using the commodities broking services,
merchant banking and financial planning etc. which shows a very poor result.
About 70% clients are new i.e. they have joined SPA last year. This is a good
indicator that people are now moving towards the financial services.
The services that SPA offers to its clients are well suited to their needs. Only 55
people are there who say that the services do not fulfill their requirements.
The satisfaction level of SPAs clients is high which a good indicator is. This
would help it to create further long term relationships with its clients.
But still a very less number of clients are there who would continue with SPA.
Most of them depend upon the circumstances or their financial needs. So SPA should
work more to build long-term relations by introducing them with more customized
services.
Similarly, 90% clients are of the opinion that their recommendation to others will
depend upon the latters requirement. The word-of-mouth marketing can help the
company for sustainable growth. The existing clients should be so much influenced
that they can help in bringing new clients.
The most important thing is that the company should diversify its services to
satisfy its existing clients as well as the future clients. Many clients need that some
more services should be added like Investment Banking, Portfolio Management etc.
so that they can have one stop solution for all their financial needs.
And also the awareness level among people about SPA is very low. The company
should do effective promotional activities. It can use advertisement Medias (print and
electronic).
SPA lacks in customized services which has a direct impact on services offered
Clients need more commitment from the employees side and timely services.
Chapter 6
Conclusion, suggestion and limitation
Conclusion:
From the study it can be concluded thatSPA Capital is a growing organization which has through its corporate clients, grown at a
considerable pace, which is quite appreciable.
One of the selling strategies adopted by SPA is assisting the corporate employees in their
ITR filing. This has, for sure proven to be a successful strategy in building long-term
relationship with their clients and thus grows in this competitive era.
As Income Tax Return filing is a mandatory procedure for every citizen of India who is
earning money from any source, most of the people approach to such type of companies
who file their ITR at a nominal rate and thus saving their time, so this is a great
opportunity for SPA and to boost its business level.
There are some deficiencies in the working of SPA yet this can be removed by working
on them and by proper handling of queries of clients.
SPA is an emerging organization which helps the people to fulfill their almost every
financial need at one stop.
Limitations:
Every study has its own advantages and disadvantages. No study is perfect as there is always a
room for improvement.
In this study though every effort has made to bring it into perfection and no stone is left
unturned, there are still certain limitations, which need to be highlighted without which the study
can become biased.
Such limitations are:
The data has been generated from the secondary source thus any error in the information
would have got replicated in the report.
Time constraint was another limitation. As no efficient research can be done in this short
period of time.
Also the information available was insufficient which has also been reflected in the
report. The resources were also not much available.
The biasness of the sample units may also cause the wrong results.
Some of the information about the research sample is collected through their past record
available with the company
The results drawn from the sample has been applied to the population which may give
incomplete response.
Suggestion
BIBLIOGRAPHY
BOOKS:
Tax Deduction and collection at source by SR Kharbanda
Master guide to Income Tax Act by Taxmanns
Taxation of salaried employed by Girish Ahuja and Ravi Gupta
Taxation of capital Gains by Tarun Chaturvedi
Capital Market in India by Rajesh Chkarbati
WEBSITES:
www.spacapital.com
www.moneycontrol.com
www.valueresearchonline.com
www.incometaxindia.gov.in
www.investopedia.com
www.capitalmarket.com