FINANCE FORUM WORKSHOP- TAXATION OF SMALL BUSINESSES: CA SHRIDHAR KAMATH

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The very relevant topic on “Taxation of small businesses” was briefly discussed by the renowned CA Shridhar Kamath on 2nd November 2018 at 2pm at Poornaprajna Institute of Management, Udupi. This expert lecture was organised by the Finance Forum of the institution.  The Director of the institute Dr. Bharath V presided over the programme.  The programme was attended by the dean, Dr Sureshramana Mayya, and all other teaching staff and students of both the first- and second-year MBA. The programme was coordinated by Dr Bharathi Karanth, the faculty in charge of the Finance Forum of the institution. Students of 2nd MBA coordinated the programme. Miss. K.N. Shweta did the master of ceremony. Introduction of the chief guest was briefly given was Mr Suraj Shetty and Mr Rakesh Fernandes proposed the vote of thanks.

The speaker began his presentation by saying that Small businesses are considered to be the “lifeblood of emerging industries in India”. This expert lecture was basically dealt with 4 main topics i.e., Legal documentation, GST compliances, Income Tax compliances and the main concept was on presumptive provisions, which was basically to protect the small businesses. The session was made very interactive as certain problems with regard to taxation was also discussed. The current scenario of the Income Tax provisions and the current affairs on these aspects were very briefly narrated by the speaker. His experience as a student and also as to how well it is to groom ourselves professionally was also been shared with us. He further enlightened us as of why GST is considered to be a Good and Simple Tax with the use of gst.gov.in website and explained the procedure as for how to file an Income tax return.

Being MBA students it is very essential to have a clear insight and knowledge on start-ups as they are the buzzword these days. With this, the country enjoys the ease of doing the business. The speaker provided us with the essentials required for the same with other taxation related concepts and figures.
(Report was written by Jackeline Nikhitha -2nd MBA Finance specialisation) 

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