monika approved
TRANSCRIPT
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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
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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.
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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
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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
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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,
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TABLE OF CONTENTS
S
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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 $TUD%2< SUGGESTION AND RECOMMENDATION
3< SUMMARY
>< BIBLIOGRAPHY
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INTRODUCTION OF VARDHMAN
GROUP OF COMPANIES
V$* #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 $;&;Os>al;His 7ision and insight has gi7en !ardhman an en7ia,le position in the te6tile
industr?; Under his leadership5 !ardhman is effi.ientl? using resour.es to
inno7ate5 di7ersif?5 integrate and ,uild its di7erse operations into a d?nami.
modern enterprise;
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LOGO OF VARDHMAN GROUP
“FLAMES” signifies the gro>th of ea.h and e7er? indi7iduals asso.iated >ith it
he or she is >or4er an emplo?ee shareholders or .ustomers;
“STIC:” s?m,olies .otton5 >hi.h is ,asi. ra> material of the .ore produ.t of
!ardhman group;
“V” stands for 7ardhman group;
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HISTORY
The industrial .it? of Lu$*!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$O ::ard >hi.h is the first in Te6tile industr? in India and ?et another
laurel to its .redit;
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MISSION STATEMENT OF GROUP
!ardhman aims to ,e >orld .lass te6tiles organiation produ.ing di7erse range of
produ.ts for the glo,al te6tiles mar4et; !ardhman see4s to a.hie7e .ustomerdelight through e6.ellen.e in manufa.turing and .ustomer ser7i.e ,ased on
.reati7e .om,ination of sate-of-the-art te.hnolog? and human resour.es;
!ardhman is .ommitted to ,e responsi,le .orporate .itien;
S P OS;AL, C*!-V$* G%u?
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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;
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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;
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HOLDINGS
; !ardhman Holding "imited
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PHILOSOPHY
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PRODUCT PORTFOLIO
A"u+ 4115-1@ G%u? T%"+(
R. %#)
USD
M!++!%
S*#
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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
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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 $ales )@;<
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F!!+ I$!"%. 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 $ales @
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First Indian Te6tiles Compan? to get I$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;
$e.ond largest produ.er of se>ing threads in the .ountr?;
"argest range of te6tiles produ.ts;
"argest spinning .apa.it? in India;
"argest d?eing .apa.it? of fi,re and ?arns;
Mar4et leader in hand 4nitting ?arns in India;
Colla,oration >ith spe.ialist >orld>ide;
R& Gnterprise Resour.e &lanning+ ena,led solution for online;
B+# .*##"
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M 00 M 01 M 1@ M 15 M 1
S%u#. %8 8u$.
O>nerJs fund
quit? share .apital @;@* *9;99 *9;99 *9;99 *9;99
$hare appli.ation mone? - - - - -
&referen.e share .apital - - - - -
Reser7es 1 surplus 5)*=;@ 5);:) 5
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M 00 M 01 M 1@ M 15 M 1
in7estments
Contingent lia,ilities *;@@ ard in %arn Categor?
T#"!+# E?%" P%%"!% C%u!+ 411-15$il7er Top 6porter A>ard in %arn Categor?
T#"!+# E?%" P%%"!% C%u!+ 411-15
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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$il7er Troph? for Highest #lo,al 6port Categor? GO7erall+
T#"!+# E?%" P%%"!% C%u!+ 411=-12#old troph? in OU/&L for e6port of .otton ?arn
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T#"!+# E?%" P%%"!% C%u!+ 411=-12Brone troph? in mill fa,ri. e6porter .ategor?
T#"!+# E?%" P%%"!% C%u!+ 4114-1=#old Troph? in OU/&L for e6port of .otton ?arn
T#"!+# E?%" P%%"!% C%u!+ 0@@5-@@$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
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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?
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V$* 9%" PADMA BHUSHAN A6$ %
=0." M*,4101
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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;
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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
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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;
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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
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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$TAFF+
RESPONSIBILITIES OF ACCOUNTS DEPARTMENT
A..ounting for pur.hase of stores and spares;
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A..ounting for .i7il 1 ser7i.es .ontra.tors;
Fi6ed assets a..ounting;
Filling of TD$ 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
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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
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$ortG$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"$$!# ( SHITSULE)-
O,2e.ti7eK- To sustain impro7ements and ma4e further
impro7ements ,? en.ouraging effe.ti7e use of plan5 do 5a.t
and .he.4G&ADAC+ .?.le;
'e? te.hniqueK - Red Tagging
; Auditing
ard5 re.ognition and training programs;
TOTAL PRODUCTIVITY MAINTAINENCE POLICY
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(TPM)
MEANING-
T (TOTAL)- All en.ompassing ,? maintenan.e and produ.tion indi7iduals
>or4ing together;
P (PRODUCTIVITY)- &rodu.ti7it? of goods and ser7i.es that meet or
e6.eed .ustomers e6pe.tation;
M (MAINTENANCE)- 4eeping equipment and plant as good as or ,etter
than the original .ondition at all times;
POLICY-Ma6imum o7erall effe.ti7eness relia,ilit? of plant and ma.hiner?
,? aiming at LRO "O$$$ 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
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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;
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INTRODUCTION OF THE PROECT
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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 $pinning and
general mill "tdQ5 "udhiana;
One .annot merel? rel? upon the theoreti.al 4no>ledge5 if
the theoreti.al 4no>ledge is a..ompanied ,? pra.ti.al one5 the ,enefits are
ma6imied; "e.tures gi7en in the .lassroom help us to understand the
fundamental .on.epts of management and also fa.ilitate the learning of pra.ti.al
things; Ho>e7er5 these le.tures must ,e .orrelated >ith the pra.ti.al situation; itis in the sense that the pra.ti.al training in the .ompan? has a signifi.ant role in
the su,2e.t of ,usiness management;
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GENERAL OVERVIE;
Dedu.tor other than #o7ernment 1 .orporate ma? file TD$ 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
VARDHMAN SPINNING AND GENERAL MILL
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;$# Data collection tec1ni2ue0 Secondary data was collected by the
internet boo!s and "ast records o# the com"any.=
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S%?# %8 "*# ."u$/
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$;
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E-TDS
ntities G,oth .orporate and non-.orporate dedu.tors+ ma4ing pa?ments
Gspe.ified under in.ome ta6 a.t+ to third parties Gdedu.tees+ are required to
dedu.t ta6 at sour.e GTa6 dedu.ted at sour.e-TD$+ 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;
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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
VARDHMAN SPINNING AND GENERAL MILL
http://www.vardhman.com/http://www.nsdl.com/http://www.vardhman.com/http://www.nsdl.com/
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