TAMILNADU STATE ACCOUNTING AND

TAXATION SERVICES CO-OPERATIVE

SOCIETY LIMITED, XNC-895

GST
INCOME TAX
TDS

OUR OFFICE
No.579-585, First Floor, Balu Muthurangam Castle, Cross Cut Road,
Near North Coimbatore Flyover, Gandhipuram,

Coimbatore - 641012. Phone : 8111011230

E-mail : taxcooperativecb@gmail.com.
TAMILNADU STATE ACCOUNTING AND
TAXATION SERVICES CO-OPERATIVE
SOCIETY LIMITED, XNC-895

SOCIETY PROFILE
 தமிழ் நாடு மாநில கணக்கியல் மற் றும் வரி சேவவகள் கூட்டுறவு ேங் கம்
லிட்., XNC -895
TAMILNADU STATE ACCOUNTING AND TAXATION SERVICES CO-OPERATIVE
SOCIETY LIMITED., XNC-895
R.O: No.579-585, First Floor, Balu Muthurangam Castle, Cross Cut Road,
Near North Coimbatore Flyover, Gandhipuram, Coimbatore - 641012.
E-mail – taxcooperativecb@gmail.com. PH : 8111011230

To,

Dear Sir/Madam,

Sub: - New Society Formed - Tamilnadu Accounting and Taxation Services

Co- operative society Limited- reg.

Greetings! On behalf of our Society, Tamilnadu State Accounting and Taxation Services Co-
operative Society Limited, hereby we have highlighted the list of Professional services which we would
like to render to your esteemed co-operative society by our principle of co operation among co
operatives.

We the members of Co-operative society consists of Chartered Accountants, Cost accountants and
CA pursuers formed a co operative Society and primarily engaged to provide quality, timely and
efficient services in accounting and taxation like book keeping, preparation and filing of TDS, GST,
SFT and Income Tax returns and also Consulting, verification and reconciliation services for TDS,
Income Tax, GST etc.

After due consideration of your organization basic needs and Prospective plans, we will come up with
a comprehensive proposal which will serve best of your interests. The terms of this proposal will be
perfectly tailored to fit your organizations contexts and needs with an assurance of flexible and
reasonable professional fees.

Herewith we have enclosed our profile which showcase, how our society functions, various services
offered by us, the proposed execution and implementation plan, schedule of fees ,terms and
conditions, etc.,
Please feel free to contact us for any inquires or concerns about the services to
PH : 81110 11230 E-Mail : taxcooperativecbe@gmail.com.
Thanks in anticipation for your positive response.

Yours
Sincerely,
 Introduction And Overview

• The advent of globalization has essentially opened up a lot of opportunities for

businesses to expand their horizons. However, the statutory accounting and taxation
compliances also have undergone a sea change to keep up with the new
challenges and have increased the complexity of operations.

• We should ensure compliance to these new laws or amendments because the regulators
are also now better equipped for these new tasks due to adequate technological support.

• There are drastic changes in the statutory acts and other compliances in the recent past
and Non- compliance has resulted in well-publicized failures and heavy punitive
damages and losses to the organizations

Need for an Accounting and Taxation Organization

• In order to cope with the demanding regulatory environment, it is vital that

organizations especially Co operative Societies, Government organizations and
Government Staffs should sit up and take notice of the different laws.
• Co operative societies and Government organizations need to devise efficient and
effective ways to maintain compliance to these laws and minimize their risk. Using of
electronic tools wisely to analyze the alternatives in the appropriate courses of action is
important.
• With the implementation of GST, GST TDS, GST Annual returns, online filing of TDS
returns, withdrawal of section 80P deductions under income tax act for those who are
not filing income tax returns within the due date, continuous online issuance of income
tax notices, a great level of awareness has been created among the co- operative
societies, government employees and government organizations
• Moreover compliance is not a one-time event. Organizations need to take a proactive
approach and reengineer their compliance programs to make them more efficient and
effective so that they can concentrate on their core offerings.
• Affordability of services of Chartered Accountants by every small co-operative
societies, Government and individual Government employees due to the
demand for Chartered Accountants has been a question mark for a very long.
To prevent this and to provide adequate support, an organization need to be form which can
provide with the help of Statutory compliance experts, whose main focus is to help
organization remain 100% compliant with the ever – changing regulatory environment.
 Aims And Service Of Our Society
We render services/assistance in relation to
I. General Accounting, Bookkeeping and Verification of Accounts Services:-

• Payroll

• Bank reconciliations

• Accounts payable/ Accounts receivable

• Verifying and recording invoices from suppliers

• Recording Depreciation and other adjusting entries

• Providing Financial reports

• Audit Support

• Cash Flow Statements

• Preparing Income tax returns

• Preparing GST, TDS and other returns

(By using any accounting Software owned, developed or hired as may be decided by
the Organization and the Society)
II. Preparation and filing of E-TDS/TCS/24G/15G/15H or any other AIR Reports (like
SFT) required by Income Tax Departments from time to time and correction statements.

III. Preparation and filing of GST returns -Monthly, Quarterly and Annual returns,
Advance ruling, etc
IV. Consulting, verification and reconciliation services for TDS / Income Tax / GST / Other
areas

V. Preparation and Filing of Income Tax Returns for all type of organisations
VI. Registration Services – Society / GST / PAN / TAN/Any other registration
VII. Develop software, online websites, mobile applications or any other technology
related products in the field of accounting, taxation and statutory compliances to ease the
accounting, taxation and compliances work
VIII. Any other services relating to accounts and taxation

(By using any Software owned, developed or hired as may be decided by the Society
 What We Did

• We members of Chartered Accountants, Cost Accountants and CA pursuers having

well versed experience and spent more than a decade in handling accounting, auditing,
Service Tax, GST, TDS filing and income tax return filings for Government
organizations, Governmental authorities, Public Sector units, Government employees,
Corporations and various societies, have felt a need to form a social organisation with
common interest from members and have all equal rights in managing the affairs of
the organization on the basis of self help and mutual help to overcome the statutory
challenges and short-comings
• With the handful of professionals who are well versed in handling statutory
compliances formed a new co operative society in the name of

M/s. Tamilnadu State Accounting and Taxation Services Co operative Society

Ltd.,

• Registered by Registrar of Co operative Societies, as a co operative society under sub

section (1) of Section 9 of the Tamilnadu Co Operative Societies Act 1983 with the
area of operation of entire Tamilnadu with the Registration number XNC -
895 under the control of Deputy Register Non Credit Chennai.

Why Co operative Society

To promote the interests of all its members to attain their social and economic
betterment through self-help and mutual aid in accordance with the cooperative principles.

To provide or find suitable and profitable employment to members mainly CA

pursuers having experience in the field of statutory accounting and taxation compliances

To build a strong and viable Co-operative, unified by a common aspiration to

promote Co- operative Principles of co operation among co operatives. Through the Co-
operative Spirit we shall achieve self-help, self-reliance, economic strength, and unity.
 SERVICE CHARGES FRAMED UNDER BY LAW NO 67
SNo Nature of Service Periodicity Amount

Service Charges depends on the number of

Preparation and maintenance of Daily/ vouchers/entries to be entered per day/ month/year
1 accounting records Bookeeping) Monthly/ Service Charges may also be charged based on the
(By using any accounting Quarterly/ number of man days spent.
software owned, developed or Annually Subject to the Final Decision of the Board of
hired as may be decided by the Management
Organization and the Society)
1. Upto 20 deductee records – Rs.500+ Uploading
Preparation and filing of ETDS/ charges @ NSDL
TCS/24G/15G/15H or any
2. Between 21-50 deductee records – Rs.750+
other AIR reports required by
Uploading charges @ NSDL
Income Tax Departments from
3. Between 51-100 deductee records -Rs.1,000+
time Quarterly
Uploading charges @ NSDL
2 to time and correction Annually
4. Above 100 deductee records -Rs.1,000+Rs.10 per
statements for
record. +Uploading charges @ NSDL
the above
Additional Rs.3 per record will be collected for filling
(By using any Software owned,
Annexure II details in Q4.The above charges are
developed or hired as may be
inclusive of generation of
decided by the Society)
receipts and forms 16,16A and 27D.
1. For filing Nil Returns – Rs. 500/ -pm
2. Upto 20 Invoices – Rs. 1,000/-pm
3. Between 21-50 invoices – Rs. 1,500/-pm
Preparation and filing of GST
4. Between 51-100 invoices – Rs. 2,500/-pm
returns,Providing GST Monthly/
consultation, Quarterly/ 5. Above 100 invoices – Amount will be fixed by the
Advance ruling, etc (By using board based on the quantum of work, complexity of
Annually
3 any software owned,developed the transactions and time required.
or hired as may be decided by 6. For filing annual returns and reconciliations
the Society) charges is to be decided by the board of
management based on the experience of the
member in handling the issue, the time required to
solve the issue and the complexity of the issue
To be decided by the board based on the experience of the
Consulting Services – TDS /Income As and when member handling the issue, the time required and the
4 Tax / GST / Other areas required complexity of the issue.

1. Rs. 500 for filing salaried Income Tax return –

Preparation and Filing of Income Annually 2. ITR -1
5 Tax Returns 3. For other type of income tax returns, Board will decide
based on the complexity of the transactions and the time
required for completing the filing.
As and when 1. PAN – NSDL Charges + Rs. 100/-
6 Registration Services – required 2. TAN – NSDL Charges + Rs. 100/-
Society/GST/ PAN / TAN/Any
3. GST Registration – Rs. 1,250/-
other registration
4. Other registrations – To be decided by the Board
Manpower outsourcing for As and when
7 Accounts required Actual cost to the society + 8.33% service charges

Any other service relating to Based on the complexity of the work, experience of the person
8 accounts and taxation As and when handling and the amount of time required, fees will decided by
required the Society.

Note:
The above stated charges/fees do not include reimbursement of any related expenses incurred actually. More over the
above charges/fees are excluding GST.
TAMILNADU STATE ACCOUNTING AND
TAXATION SERVICES CO-OPERATIVE
SOCIETY LIMITED, XNC-895

COMPLIANCE MANUAL
 COMPLIANCE MANUAL FOR SOCIETY
GST
• GSTR 3B, GSTR 1 has to be filed every month.
GSTR 1
o Monthly - Annual turnover exceeding 1.5 Crs.
o Quarterly - Annual turnover not exceeding 1.5 Crs.

• Due dates for filing GST Return are mentioned below

RETURN FORMS DUE DATE PENALTY

GSTR 1 10th of next month Rs.200 per day

GSTR3B 22th of next month Rs. 50 per day for Tax

Rs. 20 per day for Exemption, Nil
JAN 31th,2019
GSTR 9 Rs. 200 per day
(for FY 17-18)

• Three forms of GST filing are available for Co-operative Society

Goods
• Taxable Goods

MALIGAI MASALA POWDER,SEMIYA,ELLU, COCONUT OIL,SPICES, TEA ,COFFEE, BRANDED

SALT, SOYA, ATTA,VARA MILAGAI (CHILLY), SUGAR, OILS, FIRE STICKS, AGARPATTIS,
5% ASAFOETIDA, RAVAI, SOOJI etc
FERTILIZER
GUNNY–JUTE
MEDICINE CRACKERS
MALIGAI–BADAM, PICKLES, NOODLES, CHIPS etc
12% MEDICINE
CRACKERS
MALIGAI-BAJI BONDA POWDER,GULAB JAMUN,PAYASAM
MIX,CHOCOLATE,BISCUITS,SOAP etc
18% GUNNY– POLYTHENE
MEDICINE
CRACKER
MALIGAI- LIZOL, PHENOYL etc
28%
CRACKERS
• Exempted Goods
(It is mandatory to declare these goods in GST even though it is exempted)

MALIGAI SALT, MILLETS, GRAINS, TAMARIND, COCONUT,

VEGETABLES

PDS THOOR DHAL, SUGAR, PALM OIL, KEROSENE, RICE, WHEAT

• Services
All Services will be charged at GST Rate of 18%.
The Services include :

I. Jewel Loan – Appraisal charge

II. Processing Charge – Bank (Mortgage& Personal) loan, Jewel Loan and any
other charges excluding Interest.

III. E- Governance / E- Seva [Amount collected of Rs. 48 includes GST]

TDS

1. Salary – Domestic u/s 92(B)

All employees exceeding threshold limit.

o To be filed on a quarterly basis.

o FORM No 24Q

o It includes CESS.

• TDS should be deducted uniformly and monthly basis.

• TDS deducted should be paid before 7th of next month.

• It is mandatory to deduct the entire tax liability by the employer.

 2. Non-Salary - Domestic u/s 194(A)

SECTION NATURE OF PAYMENT RATE OF TDS EXEMPTION LIMIT

Rs.40,000, if payment made by Banking,
Co-operative Society, Post office.
Interest (Bank) other than 10% Rs.5,000 if payment made by any other
194A Interest on securities person.
For senior citizens, TDS on Interest
income is Rs.50,000
No TDS for-
Payment to contractor/sub Individual & HUF – a) Value < Rs.30,000 per contract, or
194C contractor 1% Others – 2% Aggregate less than Rs.1,00,000 p.a
b) Small Transporters
194H Commission or Brokerage 5% Rs.15,000 p.a.
Plant & Machinery,
Equipment – 2%
Land & Building, Rs. 2,40,000 p.a.
194I Rent Furniture & Fittings
– 10%
Professional or Rs. 30,000 p.a.
194J Technical Fees 10%

*PAN is mandatory, if no PAN, then 20% will be deducted

3. Scrap u/s 206C

TCS will be collected based on type of Scrap.

• Due dates for filing TDS are mentioned below

RETURN FILING PAYMENT DATE

MONTHS DATE
April- June July 30th 7th of next month
July - Sep Oct 30th 7th of next month
Oct - Dec th 7th of next month
Jan 30
Jan - March May 31st 7th of next month
(For Non-Salary, Deduction for Provisional
Entries for the March month is on 30th of April)
 • Due dates for filing TCS are mentioned below

RETURN MONTHS FILING DATE PAYMENT DATE

April-June th 7th of next month
July 15
July-Sep Oct 15th 7th of next month
Oct-Dec Jan 15th 7th of next month
Jan-March th 7th of next month
May 15

4. Salary – NRI u/s 195

o CESS will be deducted

5. For Salary, NRI, TCS, Educational CESS is applicable at 4%.

INCOME TAX

U/S 80P for Co-operative society, only the income from core business is exempted fully
from tax. Any other income other than the whole business is fully taxable.
E.g.: Under Sec 80(4), the below societies are fully exempted

I. Primary Agricultural Credit Society

II. Primary Co-operative Agricultural and Rural Development Bank- Society

having its area of operation confined to a taluk and the principal object of which is
to provide for long-term credit for agricultural and rural development activities.

III. Co-operative bank for agricultural purposes

• Due date for filing IT Return

o NON-TAX AUDIT -- 31st July (Turnover less than 2 Crs)

o TAX AUDIT -- 30th Sep (Turnover more than 2 Crs)

• Tax Liability

NET INCOME RANGE INCOME TAX RATE

Up to Rs.10,000 10%
Rs.10,000 – Rs.20,000 1000 + 20%
Rs.20,000 & above 3000 + 30%

• Surcharge:
12% of tax where total income exceeds Rs.1 Cr

• Health and Educational CESS:

4% of income tax and surcharge

• For filing Income tax return, Form ITR-5 has to be filed for Co-operative society.

KYC Document

• For Bank deposits, To join as a member/Opening an account, PAN &

AADHAR(mandatory) , Driving license &voter ID (Optional ID proof). For opened
accounts, PAN & AADHAR has to be updated.

• Cash deposition of amount exceeding Rs.50,000 and above, PAN copy is

mandatory.

• For Fixed deposit, the amount should be deposited only after deposited in the Savings
Bank account.