7 July Taxation

TAXATION FOR BETTER BUSINESS Afterschoool – developing change makers CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – OPEN FOR ALL FREE FOR ALL

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TAX PLANNING Dr. T.K. Jain. AFTERSCHOOOL Centre for social entrepreneurship Bikaner M: 9414430763 [email protected] www.afterschool.tk www.afterschoool.tk www.afterschoool.tk

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Mention businesses – which can be 100% tax free?  Venture

Captial : (sec 10 (23fb)) – unlisted company which gives money for setting up businesses in areas of biotechnology, IT, seed research, biotech, R &D (in chem & pharma), biofuels, hotels (with >3000 capacity), infrastructure (specified), & dairy poultry unit.

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continued:….  Tea

board subsidy (sec 10(30))  (the assessee has to furnish a certificate certified from Tea Board regarding this subsidy – that is used for rejuvenation of tea bushes).  Similarly other subsidies like rubber, coffee, cardamom, etc. subsidy.

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Continued: ..Businesses in free trade zones … sec 10 A. 

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FTA / FTZ / EPZ: Free trade zones / Export processing zones, special econmic zones, electronic hardware tech. parks, software tech. parks, etc. From 81-82 for FTZ, from 94-95 for STP / EHTP and from 2001 -2 for SEZ. Unit should be new (not old as per 33 B) Forex earnings should come in 6 months in India

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SEZ … ( 10 A (1A)  100%

profit for 5 years (tax free)  50% profits for next 2 years  Next 3 years – upto 50% for SEZ reinvesement alowance researve.

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continued … sez (10 AA)  For

units set up after 1.4.06  100% tax free - for 5 years  50% for next 5 years  Additional benefit upto 50% for next 5 years for SEZ reinvestment reserve.

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Continued … 100% export oriented units – sec. 10 B.  Profit

* exports / total sales.  No benefits under sec. 80 IA * IB.  For

10 consecutive years  No exemptions from 2010 / 11 onwards.

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Continued .. Wood based export units. Sec – 10 BA.  If

you are exporting wood based items – or those items which are hand made or having artiscitc values – you have tax benefits.  From : 2004/5 to 2009/10.  90% sale must be through exports  At 20 workers must be there  6 month forex collection condition. www.afterschoool.tk

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Which NGOs / bodies have tax free income?        

Imcome of cooperatives for SC (10 – 27) Income of corporations for SC / ST (10 – 26b) Minorities - (10 – 26BB) Ex-servicemen – (10-26BBB) Member of ST - (10-26). Gratuity fund (10-25) Trade union - (10-24) Mutual fund - (10 – 23D)etc.

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Continued …  Incomes

of LIC & Pension funds  KVIC (10 – 23 B)  Religious and cheritable trust (10 – 23BBA)  News Agency (10 – 22B)  Professional Association (10 – 23A).  Scientific research association (35 -1 – ii)

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Incomes witch are tax free for individuals?        

Agricutural income Gratuity (for govt. employees) Educational scholarships Payments to MPs and MLAs Incomes from LIC etc. (as per their policies) Provident fund collections Superannuation fund collections VRS (from specified organisations) upto Rs. 5 Lakhs

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ABO UT A FTERSCH OOO L Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.

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Why such a programme? 

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To promote people to take up entrepreneurship and help develop the society To enable people to take up franchising and other such options to start a business / social development project To enable people to take up social development as their mission To enable people to promote spirituality and positive thinking in the world

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Who are our supporters?  Afterschoolians,

our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.  You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.

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About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs     

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Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just an employee Option to take up part time job – so earn while you learn The only absolutely free course on internet

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Workshops from AFTERSCHOOOL         

IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management, Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad

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Flexible Specialisations:          

Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social relevance

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Salient features: The only programme of its kind (in the whole world)  No publicity and low profile course  For those who want to achieve success in life – not just a degree  Indepth knowledge and expertise  Professional approac: World class approach  Strong intellectual and business capabilities  Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes  Scholarships for those from poor economic background  Latest and constantly changing curriculum – keeping pace with the time  Placement for those who are interested  Admissions open throughout the year  Latest and most advanced technologies, books and study www.afterschoool.tk AFTERSCHOOOL MATERIAL FOR PGPSE PARTICIPANTS material 

Components              

Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development Essential softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)

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Pedagogy          

Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits Presentations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) Rural development / Social welfare projects

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Branches  AFTERSCHOOOL

will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.

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Case Studies  We

want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.

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Basic values at afterschoool        

Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support and help Ask fundamental questions : why, when, how & where? Embrace change – and compete with yourself only

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www.afterschoool.tk social entrepreneurship for better society

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