Certificate of Originality

This is to certify that the project report entitled E-FILING OF ITR AS A WORK OF
SPA FINANCIAL ADVISORS Submitted to MAHARAJA SURAJMAL
INSTITUTE, JANAKPURI in partial fulfillment of the requirement for the award of the
degree of BACHELORS OF BUSINESS ADMINISTRATION is an original work
carried out by KAMALJIT SINGH, under the guidance of __________. The matter
embodied in this project is a genuine work done by him to the best of my knowledge and
belief and has not been submitted before, neither to this University nor to any other
University for the fulfillment of the requirement of any course of study.

Signature of the Student

Signature of the Guide

Chapter-1
Introduction to S.P.A.
FINANCIAL ADVISOR

INTRODUCTION
2

SPA is a leading composite financial services provider growing on strength of its research
based customer centric approach and consistent servicing. Thorough understanding of
clients perspective and requirements supported with exhaustive research forms the
backbone of all our services. A team of over 1000+ dedicated professionals comprising
Bankers, Chartered Accountants, Company Secretaries, MBAs and Technocrats is
striving towards providing financial solutions and achieving customer satisfaction. Key
strength of the team- deep understanding of capital market, Money Markets, Swaps,
Options, strong networking with institutional investors, expertise in industry sectors &
ability to structure transactions and products suitable to needs of the client. Offering
Innovative, integrated & customized solutions to corporate, funds, institutions and
individuals.

Ranked amongst top merchant bankers continuously in the league of

arrangers of primary debt placements (source: Prime Database) & amongst top 2 in shortterm debt syndication. All India network of offices & strong relationship with
Institutional Investors like commercial banks & mutual funds.

Large network of

Associates and Sub-brokers spread all across the Country.

Spa capital Services head office is registered at- 25, C-Block, Community Center
Janakpuri New Delhi, 110058

COMPANY PROFILE
3

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 corporates, trusts and individuals.

PROMOTERS
4

Mr. Kamal Somani, FCA, is a senior finance professional with over 30 years of
experience in investment banking, securities broking and corporate finance. His vast
experience and vision has enabled the Group to establish itself as a respected financial
services provider in the country. He looks after the overall group strategies and leads
securities broking, investment advisory and investment banking activities of the Group.

Mr. SandeepParwal, B.Com (Hons.), FCA, has over 26 years of experience in various
aspects of financial services. He handles investment advisory, insurance broking and
merchant banking activities of the Group. His expertise in providing customized
innovative solutions with unmatched speed provides a distinctive edge to the Group's
capability.

MANAGEMENT TEAM
5

The Core management team of SPA consists of persons having a rich experience in
Corporate Finance and Advisory, Investment Banking, Risk Management, Securities
Banking and Wealth Management.

Mr.SanjayJoon,President MBA, having more than 26 years of experience in marketing

of financial products and has a vast experience in information technology and
administration. His forte lies in his abilities of accurately assessing his customers need,
meeting them and leading an ever enthusiastic team. He heads Mutual Fund Division of
the Group since its inception.

Mr. Sanjay Gupta, Associate Director (Investment Banking) B.Com (H), Chartered
Accountant, Fellow Member of The Institute of Chartered Accountants of India Has close
to 20 years of work experience in the field of investment and merchant banking, Fixed
Income Securities, Project Financing, Structured & Corporate Finance.

Mr. V K Khattar, Principal Officer He has to his credit 42 years of rich experience of
working with Oriental Insurance Company Limited and retired as the Regional Manager.
He is associated with our Group as the Principal Officer of the Insurance arm.

Mr. VivekGautam, Associate Director He is having 30 years of experience in the field of

Banking & Merchant Banking including 16 years of exclusive experience in Investment
Banking. He has worked for 14 years in PNB till mid 1991 in Managerial positions.
Thereafter he was deputed to PNB Capital Services Limited as Senior Vice President and
worked as Head Merchant Banking during 1991 - 1996 and was associated in lead
managing more than 60 public and rights issues for well known Corporates and Financial
Institutions. He was also Head Investment Department dealing in securities for one year.
Thereafter he worked as Director - Bajaj Capital Limited and President Merchant
Banking for 7 years and also as Head Merchant Banking and Executive Director with
Allianz Securities Limited for 1 year. He has wide experience in issue management,
private placement of equity and debt, corporate advisory & finance, mergers & takeovers
& distribution of financial products. He is with SPA Group since October 2006 and
looking after Merchant Banking.

VISION
SPA believes in attaining customer satisfaction, on continuing basis, by providing highest
standard of financial services in India. The philosophy at SPA is to provide services to
clients after assessment of their profile, needs and risk-appetite. The basic work theme at
SPA is:

Dedicated, competent and honest team of professionals

Customer centric work environment

Insight of customers perspectives

Strong research base

Clear understanding of applicable laws

Consistency and passion to excel

Technology savvy

MILESTONES
Since 1994, with the coming into existence of the SPA Group, we have diversified into a
complete financial solution providing house, catering varied needs of our clients ranging
from investment advisory services to investment banking, corporate re-structuring,
distribution and broking services, risk management and insurance advisory. Within a
short span of time, the Group has made a place for itself in the midst of the top financial
solutions provider in the country.

GROUP OF COMPANIES
8

SPA capital services ltd.

SPA capital Advisors Limited
SPA securities limited
SPA insurance broking Services limited
SPA com Trade ltd

SPA Capital Services Limited

SPA Capital Services Limited is the flagship Company of the Group and is
engaged in providing Wealth Management and Financial Advisory services
to institutions, corporates, and individuals since 1995. The Company is a
leading distributor of Mutual Funds in the country and presently has assets
over Rs.22,000 crore under its management. The Company has successfully
positioned itself as a strategic advisor to its customers for wealth
management with its customer centric approach and innovative solutions.
The Company is registered with Reserve Bank of India as a Non Banking
Financial Company. Presently the shares of the Company are listed on the
Delhi Stock Exchange.

SPA Capital Advisors Limited

SPA Capital Advisors Limited offers comprehensive investment banking

solutions and higest quality independent financial advice to corporates sector
and entrepreneurs. Our service offering covers private placement of debt
instruments and debt syndication for both public and private sector
corporates, Capital raising services through private placement of equity,
managing capital issues (IPO, FPO and Right Issues). Besides, we also cater
to the entire spectrum of capital market needs through other services such as
Corporate and Infrastructure advisory, Valuations, Managing Takeovers, Buy
Back and Delisting. We have team comprising of multi-disciplinary
professionals with a vast financial advisory and investment banking
experience, who structure various financial products as per the requirements
of
the
clients.
We have the Category I Merchant Banking license from Securities and
Exchange Board of India (SEBI), the Indian Securities Market Regulator.
The Company has made notable and considerable progress in a short span in
the debt merchant banking activities successful various debt primary issues.
This is also reflected through the ranking by Prime Database, which has
10

ranked the Group amongst the top 10 service providers in this segment. The
Company was able to achieve above ranks on the basis of its performance in
just two financial years since it commenced investment & merchant banking
activities.
Since the commencement of merchant banking services, the Company has
syndicated funds for various Public Sector Undertakings (PSUs), Designated
Financial Institutions(DFIs), Banks and several State Level Undertakings
(SLUs).
The Company for its Merchant & Investment Banking activities has found
patronage as an Arranger with various central public sector undertakings like
HUDCO, NTC, ITI, MECON, IISCO SAIL, REC, KRCL, public sector banks
and financial institutions. Also the Company has had privilege to provide its
services to various state level undertakings of Andhra Pradesh, Karnataka,
Kerela, Tamil Nadu, West Bengal, Punjab, Haryana, Himachal Pradesh,
Jammu & Kashmir, Maharashtra, Gujarat and Rajasthan. In the private
sector, the Company has provided its services to various domestic and MNC
corporates.
The achievements corroborate our untiring and sincere efforts towards
building and preserving mutually rewarding and sustainable relationships
with our clients and giving them our value added services with meaningful
performance.
We have strated providing equity capital market related services in the
beginning of 2007 and advise Corporates, Banks and Businesses which are
seeking to mobilize capital from Investor. We offer following opportunities
to clients to raise funds through the following:

Private Equity Advisory

Intial Public Offering (IPOs)

Follow on Public Offering (FPOs)

Qualified Institutional Plaements (QIPs)

Right Issues

Preferential Allotments and

Foreign Currency convertible bonds (FCCBs).

Our team as Lead Manager/ BRLM has successfully managed/ are managing
transactions for client across various industry sectors including:

i.
ii.

Information technology
Telecommunication

iii.

Infrastructure

iv.

Power equipments
11

v.

Steel

vi.

Sugar

vii.

Textiles
We, for execution of a transaction, combine our various strengths including
in depth knowledge of regulatory environment, understanding of industry
and market dynamics, distribution capabilities and networking with
institution investors of our associate concerns. We built our business on
strong relationships, innovative ideas and ethical standards.

SPA Securities Limited

SPA Securities Limited is a SEBI registered securities broking Company.
The Company is a member of Wholesale Debt Market, Capital Market and
Futures and Options Segment of the National Stock Exchange of India
Limited. The Company is also a registered member of the Over the Counter
Exchange
of
India.
The Company is focused primarily on providing securities broking services
to institutional clients and is empanelled as a approved securities broker
with all the major Nationalised, Private and Co-operative banks, Corporate
houses, Insurance Companies, Financial Institutions, Asset Management
Companies and Provident Fund Trusts. The Company had a turnover of Rs.
25000 crores at NSE-WDM for the financial year ended March 2005.
Equity broking for institutions was commenced in 2004 end. In its first full
year of the operations, the Company achieved a turnover of over Rs.1500
crores in calendar year 2005.

SPA Insurance Broking Services Limited

SPA Insurance Broking Services Limited is the arm of the SPA Group
providing entire range of insurance service in insurance right from meeting
insurance need of clients to cover its risk spectrum, advisory, claim
settlement and also meet requirement of clients if they wish to outsource
12

entire gamut of insurances related functions. The Company is registered with

Insurance Regulatory Development Authority as approved Broker. The
Company is empanelled with almost all the life and general insurance
companies as a Direct Broker. The Company is functioning as life and
general insurance direct broker and risk assessors.

SPA Com Trade Limited

Recently Commenced, SPA Com Trade Pvt. Ltd. caters to existing clients
of the Group by providing research based commodity broking services .

13

SERVICES OFFERED BY SPA GROUP

Investment Banking.

Management on public & rights offers.

Privet placement of equity & debt.
Managers to takeovers/Mergers/Acquisitions.
Delisting & Buyback offers.
Equity Research.
Overseas listing. (FCCB)
ESOPs Advisory.
Debt Restructuring.
Financial structuring.
Loan syndication.
Short Term Debt.

Distribution of Financial Products

Mutual Funds.
Public Issues.
Bonds.
Fixed Deposits.
Debt Issues.
Other financial Products.

Security Broking

Cash Market.
Wholesale Debt.
Market.
Futures & Options.

Insurance Broking
Life Insurance Broking
Non-Life Insurance Broking

14

Chapter-2
Income tax in india

HISTORY OF INCOME TAX IN INDIA

Income-Tax Act of 1961:

15

on the basis of the recommendations made by the various committees, a new Act of
Income-tax had been passed during the year 1961 termed as the Income - Tax Act,
1961. This Act came into force from 1 st April, 1962. This Act contains more than 400
sections and a number of sub-sections and 10 schedules. The Income Tax department
framed 121 rules for the effective application of this Act. These rules are termed as
Income - Tax Rules of 1962. It also includes a number of sub - rules.
Income Tax is all income other than agricultural income levied and collected by the
central government and shared with the states.
According to Income Tax Act 1961, every person, who is an assessee 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. Such income tax shall be paid on the total
income of the previous year in the relevant assessment year.
The total income of an individual is determined on the basis of his residential status in
India.

RESIDENCE RULES
Types of Residential Status
The different types of residential status are:-

16

 Residential Status of Individual

The residential status of individual will be determined as under:
Basic Conditions u/s 6(1):
He must be in India for a period of 182 days or more during the previous year; or
He must be in India for a period of 60 days or more during the previous year and
365 days or more during the four years immediately preceding the previous year.
Additional Conditions u/s 6(6):
He must be a non-resident in India in nine out of the ten previous years preceding
that year; or
He must be in India during 7 preceding previous years for aggregate period of 729
days or less.
BASIC CONCEPTS DEFINITIONS
Assesse
Assessment year
Gross Total Income
Net Income
Previous year
Person
Assessment year: Assessment year means the period starting from April 1 and ending
on March 31 of the next year. Assessment year is also known as the year in which
assessment of income earned in previous year is done. Assessment year for the income of
2012-13 will be the year 2013-14.

Previous year:Income earned in a year is taxable in the next year. The year in which
income is earned is known as previous year and the next year in which income is taxable
is known as assessment year. In other words, previous year is the financial year
immediatelypreceding the assessment year.

17

Assessee:Every person in respect of whom any proceeding under this Act has been taken
for the assessment of his income or of the income of any other person in respect of which
he is assessable, or of the loss sustained by him or by such other person, or the amount of
refund due to him or to such other person;

Gross Total Income: As per section 14, the income of a person is computed under the
following five heads:
1. Salaries.
2. Income from house property.
3. Profits and gains of business or profession.
4. Capital gains.
5. Income from other sources.
The aggregate income under these heads is termed as gross total income. In other
words, gross total income means total income computed in accordance with the
provisions of the Act before making any deduction under sections 80C to 80U
Net income:Net income refers to the amount left over after all deductions are made.
Once the net value is attained, nothing further is subtracted
Person:
Person u/s 2(31) includes:

An Individual,
Hindu Undivided Family (HUF),
A Company,
A Firm,
An Association of Persons(AOP) or Body of Individuals (BOI),
A Local Authority,
Every other Artificial Juridical Person

18

TAX SLAB FOR ASSESSMENT YEAR 2015-2016

Income Slabs

Income Tax Rate

1 Where the total income does not exceed

Rs. 2,50,000/-.

NIL

2 Where the total income exceeds Rs.

2,50,000/- but does not exceed Rs.
5,00,000/-.

10% of amount by which the total

income exceeds Rs. 2,50,000/-

3 Where the total income exceeds Rs.

5,00,000/- but does not exceed Rs.
10,00,000/-.

Rs. 25,000/- + 20% of the amount by

which the total income exceeds Rs.
5,00,000/-.

4 Where the total income exceeds Rs.

10,00,000/-.

Rs. 125,000/- + 30% of the amount by

which the total income exceeds Rs.
10,00,000/-.

19

HEAD OF INCOME

Income from salary

Income from house property
Profits and gains from business and profession
Income from capital gains.
Other sources.

[A] On the basis of source(s) of income:

ITR-1: Recently upgraded as SARAL-II, it is to be used by an individualhaving
i) Income from Salary/Pension; and/or
ii) Income from only 1 House Property (Excluding - cases where loss is brought
forward from previous years); and/or
20

iii) Income from Other Sources (Excluding Winnings from lotteries and horse races).
Note: In case income from the above sources (of the individuals spouse, minor child)
needs to be clubbed, the same can be done in ITR-1 itself.
The new ITR-1 (SARAL-II) requires minimal paperwork as no document needs to be
attached with the form.
ITR-2: It is to be used by an individual and HUF having
i) Income from Salary/Pension; and/or
ii) Income from more than 1 House Property; and/or
iii) Income from Other Sources; and/or
iv) Income from Capital Gains
ITR-3: It is to be used by an individual and HUF who is a partner in a firm.
ITR-4: It is to be used by an individual and HUF having profits/gains from
business/profession.
ITR-5: It is to be used by a partnership firm, Assocation of Persons (AOP), Body of
Individuals (BOI), Artificial Judicial Person (AJP), Co-operative Society or local
authority.
ITR-6: It is to be used by a company.
ITR-7: It is to be used by Trusts and Non-Profit Organizations.
Other Returns
ITR V: Where the data of the Return of Income in Forms Saral-II (ITR-1), ITR-2,
ITR-3, ITR-4, ITR-5 & ITR-6 is transmitted electronically without digital
signature.
Acknowledgement Form: It is issued by Income Tax Department as
acknowledgement copy for filing return (s).
[B] Types of Income Tax Returns (on the basis of time of filing):
Loss Return: A loss return is filed in case of loss from business/profession and/or
capital gains. A loss return must be filed within the due date of filing tax return,
otherwise it is not allowed.
Belated Return: An IT return not filed within the relevant due date is called a
belated return. A belated return can be filed earlier of the below 2
a) Within 1 year from the end of the relevant Assessment Year (AY); or

21

b) On completion of assessment
Revised Return: A revised return is one which has been rectified of
errors/mistakes made while filing the original IT return. Any mistake/error is the
original return must be rectified and submitted by the earlier of the below 2
c) Within 1 year from the end of the relevant Assessment Year (AY); or
d) On completion of assessment
Defective Return: A defective return is one in which there are mistakes, errors
and/or incomplete filing.
If the AO (Assessing Officer) feels that there are mistakes, omissions and other defects in
the original return filed, he may send back such a return to the assessee (tax payer) to
rectify the defects. The assessee needs to make the necessary updates and re-file the same
within 15 days of receipt of defective return. Else, it will be deemed to be not submitted
at all by the AO.
Note: If the assessee re-files the defective return after the stipulated time of 15 days but
before the completion of assessment, the AO can treat the amended return as a valid one.

22

DEDUCTIONS UNDER CHAPTER- VI

Sections

Expenditure

80C

HL prinicpal repayment,Tution fees paid if any towards

(principal paid for housing loan in Fy, tution fees for education)

80D

Medical Insurance Premium Paid

(medical insurance premium paid for family and dependents)

80DD

Medical treatment for the dependents who are severely

disabled (medical treatment expenses incurred during the year for the
disabled dependent)

Medical treatment for the self or dependents in specified

80DDB diseases(medical treatment expenses incurred during the year for the
dependent)
80E

Any amount paid towards the education loan

(any amount of interest paid towards education loan taken)

80EE

Any amount on loan taken on Residential Property

80G

Donations made to any charitable trusts

80GG

Rent Paid
( If not claiming HRA, can claim rents paid for a house)

80GGA/ Any donations made in respect of scientific research Rural

80GGC Development / Any donations made to political parties
80U

Medical treatment for the self, if severely disabled (medical

treatment expenses incurred during the year for the self disabled)

80QQB

Royality Income
(Royality Income of Author)

80RRB

Royality Income
(Royality on Patents)

80CCG

Investment in Rajiv Gandhi

Equity Saving Scheme

80TTA Interest on Savings Bank Account

23

TAX RETURNS
There are five categories of Income Tax returns:
Normal return: Returns filed within the return filing due date, that is 31 July or 30
September of concerned assessment year.
Belated return: In case of failure to file the return on or before the due date, belated
return can be filed before the expiry of one year from the end of the relevant assessment
year.
Revised return: In case of any omission or any wrong statement mentioned in the
normal return can be revised at any time before the expiry of one year from the end of the
relevant assessment year.
Defective return: Assessing Officer considers that the return is defective, he may
intimate the defect. One has to rectify the defect within a period of fifteen days from the
date of such intimation. If the assesse wants more time, he can file an application to the A
O and a further 15 days can be granted at the instance of the A O.
Returns in response to notices: If any person, Individual, firm, HUF, company got any
notice from income tax department then it has/have to pay income tax on the basis of that
notice within given time in notice.

24

25

Form 16

26

Chapter-3
27

E-filing of ITR

E-FILING OF INCOME TAX

The last date for filing tax return for financial year 2014-15 for individuals is 31
AUGUST 2015. Individuals earning above Rs. 5 lakh are now required to file their tax
returns electronically. Here is a quick 10 steps guide to file your tax return.
Step 1: Create your e-filing accountIn order to create an e-filing account, you should visit
the Income Tax website https://incometaxindiaefiling.gov.in and click on 'Register
Yourself' which will prompt you to fill your personal details. Once your e-filing account
is created, login to your account with your user ID (i.e. PAN) and password.
Step 2: Download Form 26ASClick on the 'View Form 26AS (Tax Credit)' link displayed
under the Quick Link menu on the left hand side of the screen to generate Form 26AS.
Form 26AS is a consolidated tax statement issued to a tax payer which summarizes the
amount paid against each PAN number. It summarizes the TDS, Advance tax, Selfassessment tax paid in your name. The password to open your Form 26AS is your date of
birth in DDMMYYYY format.

28

Step 3: Download the income tax return formClick on the 'Download ITR' link which is
also displayed under the Quick Link menu on the left hand side of the screen. Thereafter
download the income tax return form. ITR 1 should be downloaded by individuals
earning salary income / pension; or individuals having one house property income; or
individuals having income from other sources (excluding lottery income and income
from race horses). However, in case of an individual having income from more than one
house property, capital gains or is an ordinary resident having assets abroad or claiming
tax treaty benefit, then ITR-2 should be downloaded. After downloading the income tax
return form, a zip file will be saved on your computer.
Step4: Fill the details in the Tax return form Extract the excel form utility from the
downloaded zip file and enable the macros in the Excel form. Carefully follow the
instructions and fill the following details: bull; Mention the basic details which include
your name, PAN, complete address, date of birth, e-mail ID, mobile number, whether the
return is original or revised, and residential status.
Fill the details of income earned and deductions claimed under Chapter VI-A. You
can refer to your Form 16 and Form 26AS. However, you will also be required to
report any other income or investment eligible for deduction which was not
reported to your employer.
Enter the details of tax deducted by the employer and other deductions and selfassessment/advance tax paid, if any.
Enter your bank details, which include your bank account number, preferred mode
of receiving any refund amount (i.e. by cheque or direct deposit) type of bank
account and IFSC code.
Step 5: Validate the details Click on the 'Validate' button provided on all the sheets. This
ensures that all the details have been captured in the return. In the case you omit
anything; the sheet will automatically prompt you to fill in the missing details.
Step 6: Calculate your tax liabilityClick on 'Calculate Tax' after you have filled all the
details. In case the return form shows any tax payable, then you should deposit the
amount and enter the challan details in the return form.
Step 7: Generate the XML file once all taxes have been paid, click on the 'Generate
XML' tab and save the xml generated file on your computer.

29

Step 8: Submit the income tax return, you should go to your e-filing account on the
income tax website and click on 'Upload Return'. Fill the ITR Form, Name, Assessment
Year thereafter upload the XML file and click on 'Submit'. After this an ITR-V will be
generated and sent to your e-mail ID mentioned in the tax return. ITR-V is an
acknowledgement-cum-verification form.
Step 9: Send the signed ITR-V to the Income Tax Department. You should take a print of
ITR-V and sign it in blue ink. There after you should send it by ordinary post or speed
post to 'Income Tax Department - CPC, Post Bag No - 1, Electronic City Post Office,
Bengaluru - 560100. The signed ITR-V should be sent within 120 days of uploading the
return.
Step 10: Check the ITR-V receipt statusOn receipt of the signed ITR-V, the Income Tax
Department will send an e-mail acknowledging the receipt of ITR-V to the e-mail ID
mentioned in the tax return. You will also receive an SMS on your mobile number
acknowledging the receipt of tax return.

30

31

KEY LEARNING
I learnt:

What is TDS, what is Income tax

How to file ITR
What are the deductions for ITR come under various sections
What is form 16
What is income
What is Capital gain
What is salary
Components of salary
What are the rebates on tax
Penalties, if we are not paying tax
Tax slabs, percentage of tax under these slabs

TOOLS AND TECHNIQUES OF LEARNING

Various done PAN application review

32

Training provided, presentations.

Taken help of manager and colleagues
Taxation training
Computax software
On the jab training by superiors
Investment calculators

OBJECTIVE OF THE STUDY

To know the how to file online ITR

Problem during the filling ITR
Mistakes by employees
Errors by system
33

How to handle a huge number of applications

Mistakes during data entry
How to receive form 16 and other documents from Employees
To study the for assessment of individual income tax
To study the planning of individual income tax
To study the saving of individual income tax
To study how to get exemption from individual income tax

34

CHAPTER-4
RESEARCH
METHODOLOGY

RESEARCH METHODOLOGY

The purpose of methodology is to describe the purpose involve in the research work. This
include the overall research design, the data collected method Research methodology
refers to the various sequential steps to be adopted by a researcher in studying a problem
with certain object or objective in view.

Sources of data collection:

Data was selected by using both primary and secondary method, in Primary method of
data collection personal interview and questionnaire was used, in case of secondary data
was collected by using magazine, books and data available with the person working
there.

Primary data:

35

These are those data which are collected a fresh and for the first time and thus happen to
be original in character. Some of them are calculation and observation.

Secondary data:
It means data that are already available that is they refer to the data which has already
been collected and analyzed by someone else by books and reports.

Questionnaire:a structure questionnaire was administered to the respondent for the

collection of primary data.
Questionnaire consists of 10 questions.
In the questionnaire fill in the blanks was asked.

Sampling Technique:
Convenient random sampling technique was used to select the respondent for the purpose
of study.

Research Design
Research: Descriptive
Data source: Primary and Secondary data
Research method: Questionnaire
Types of questionnaire: Structured
No. of questions: 10
Sampling technique: Convenient Technique
Sample size: 20

36

FACTS AND FINDINGS

SPA Capital Services deals in Financial industry, Merchant Banking, Insurance,
Mutual Fund, Security Broking, Equity Broking & Valuation Services.
SPA Deals in Corporate sector, its planning to serve Individuals.
Company got data from its clients.
Next approach is to file ITR and Other investment services by online.
When we asked client to fill the form, response from them:
A.
B.
C.
D.
E.
F.

Why do I file ITR

Is it mandatory for everyone?
My income not comes under tax slab.
Its compulsory to mention total income?
What it ITR?
How I will get my returns?
37

G.

Ive filed.

RECOMMENDATIONS

They should improve ITR filing techniques

Arrange Brief presentation for employees about IT Returns.
Deadline date shouldnt be change by one, two or more days.
Proper system must be implemented for collecting Form-16.
Increase the number of employees at Wipro ltd.
Service is absolutely free, every employee must know that.
Circular must be circulated in hard from however mass mailer is good
idea.

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BIBLIOGRAPHY
Website:
www.spacapital.com
www.wikipedia.com
https://incometaxindiaefiling.gov.in/
Books:
Income tax of India, assessment year 2012-13.
Students Guide to Income Tax (Including Service Tax, Vat) - Dr. Vinod K. Singhania
(Author), Dr. Monica Singhania (Author)

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