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3.1.1 Marketing
A. Product planning process:
i.
Product Development :
Product planning is the most important task therefore all the important decisions
are taken by the top management. Product development is the process of
designing, creating and marketing new products or services to benefit customers.
Sometimes referred to as new product development, the discipline is focused on
developing systematic methods for guiding all the processes involved in getting a
new product to market.
ii.
iii.
iv.
For all those people who are salaried, business employees or having sources of
income other than salary or income from business pay taxes and file their returns
on yearly basis.
v.
vi.
Major competitors :
Clear tax,
H&R Block,
Taxsmile
USP of company(unique feature/competitive advantage) :
TaxSpanner says its USP is its privacy policy as it does not engage in crossselling after obtaining client information. What sets it apart from besides their
market share and product is the very strong privacy policy and the shield they
provide to their users from selling of other financial products in guise of tax
filing.
Pricing Strategy
The company may from time to time, change the marketing and pricing strategies
keeping in mind the perceptions and requirements of buyers. For example, the
company have changed the pricing and marketing strategies of its various
packages like File and Plan Tax and Tax Optimizers in which people having
income more than 10 lakhs are pitched for these packages in order to save their
taxes. To the extent that higher prices for these packages do not offset such
market share and net sales losses, such strategy may also adversely affect our
ii.
earnings.
Pricing Objectives
dont have the resources to survive a price war, and you dont have the ability
to claim better quality to change a higher price.
D. Promotion
i.
Process of interaction with potential customers. The company has set up its
helpdesk at various companys like Accenture, KPMG, HCL etc.
There use to be a person from Tax Spanner setting up a helpdesk in various
companies and he use to promote Tax Spanner by collecting Form 16 and other
documents necessary for return filing and sending those to company for purpose
of return filing in Rs 150.
This is how the company use to interact with its customers directly.
ii.
Budget Allocation
Head office has the power & authority to decide & provide budget for the
promotional activities. Head office decides a budget for the promotional activities
& provides that budget to various circle office & circle office divides the budget
given by head office to the branches under them. Branches further decide how to
iv.
i. Channel Management
The company send their products directly to its customers by providing the product
information on their website. The customer can select the package directly from the
companys website and can make the payment anytime. This procedure of sending the
products to the next levels is called Channel Management.
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FIGURE 3.2 ChannelManagement
3.1.2
ii.
iii.
iv.
v.
vi.
i.
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perform existing job vacancies. It is the process of searching outside of the current
employee pool to fill open positions in an organization.
E
l o
f e
i o
r u
i t m
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i e
i a
i o
Managerial employees
For managerial post, the employee should have at least 6 months of experience.
ii.
EXECUTIVE INCHARGE
ASSITANT EXECUTIVE
INCHARGE HR
COORDINATOR HR
REGION WISE
iii.
issues.
Ethics and Harassment
Ethics encompasses many different training areas, including diversity,
corporate responsibility and harassment. But any training that deals with
the ethical treatment of workers and customers, environmental and legal
issues falls under the ethics umbrella. Ethics and harassment are closely
v.
vi.
vii.
what a manager should and should not do when such issues arise.
Leadership and Supervisory
Effective managers must learn and develop supervisory, team-building
and leadership skills. There are several management styles, and knowing
when and how to use them is one of the keys to good management.
Managers must also be leaders and supervisors, be educated in the subtle
differences between them and how they affect employees and
productivity
viii.
Customer Service
iii.
formal education.
Apprenticeship Training
A system of training in which a worker entering the skilled trades is given
through instruction and experience, both on and off the job in practical
iv.
v.
vi.
also.
g) Numbers of transfers in an years
The company does not give transfers to their employees.
F. Career Development :
ii.
more challenging. It is a horizontal expansion, which means that the tasks added
are at the same level as those in the current position. For Example: Housing
keeping job in a small hotel not only includes cleaning of the bathrooms making
beds and vacuuming but also replacing burned bulbs , turn down services and
restocking bars. Likewise in a company the employee have to do some additional
work except his own work like filing the file, keep the documents up-to-date etc.
iii.
Transfer
In TaxSpanner, the company does not transfer his employees from one place to
another.
Promotion
In TaxSpanner the employee gets the promotion on the basis of the target they
iv.
achieve and on the amount of work they have done till now. The employee gets
promoted after serving a period of 6months in the company.
ii.
iii.
iv.
I. Welfare
a) Working environment of the company is good and formal. Working hours are 9:00
A.M to 9:00 P.M in 2 shifts of 9:00 A.M- 6:00 P.M and 12:00 P.M-9:00 P.M.
b) Leave policy of the Company is 1 Privilege leave accumulated after 11 working
days and casual 12 leaves in a year. Medical leaves are 310 on half day up to
25years and 360 days maternity leave for womens.
c) No Canteen facility in company but every Saturday company provides hygienic
food to its employes.
d) There is no transportation facility given by the Company.
J.
Grievance handling :
a) Employees can redress their grievances through different modes like Complaint
Registration, can drop their complaint in a drop box, a customer may lodge complaint
either in writing or through electronic means if he is not satisfied with the services
provided by the company. All complaints will be recorded by the company in a
database.
b) Resolution of Grievances
i. Grievances related to attitudinal aspects
ii. Such complaints are handled very courteously, sympathetically by
Company employees.
c) Time Frame
Complaints are to be seen in the right perspective because these indirectly reveal a
weak spot in the working of the bank. Complaints received would be analyzed from
all possible angles. Company will Endeavour to send an acknowledgement/response
within one week from date of receipt.
d) Time schedule for redressed of complaints
i. General complaints are resolved in 7 days.
ii. Complaints requiring some time for examination of issues involved detail
investigations/enquiries; Company will send final response or explain reasons
for further time required within 30 days of receipt of complaint.
3.1.3
A. Help you planning your taxes for the Current F.Y which once implemented would
not only help saving taxes for the current year but also for subsequent years.
B. Sharing the 1st hand report with you within 3 business days after subscription to
package and sharing the relevant documentation containing all possible options of
tax savings as recommended by Income Tax Act1961.
C. Discussion with Chartered Accountant explaining the tax saving options and
sharing the recommendations basis your personalised scenario for 30 minutes.
D. Sharing your personalised report based on the discussion within 1 working day
post discussion.
E. Any Income Tax Department compliance, notice will be taken care off.
F. Revised report /suggestions will be shared in case of salary revision or job change
during the year.
G. Tax expert available for capital gains, F&O, loss carry forward i.e. includes ITR 2
filing.
3.1.4
FINANCE:
SPAN CROSS IT SOLUTION PRIVATE LIMITED
BALANCE SHEET
Particular
As at 31.03.2015
1.
(1
)
Shareholders Funds
(2
)
a) Share capital
b) Reserve & surplus
Non-Current Liabilities
a) Long-term borrowings
(3
)
7,132,000
18,309,619
7,132,000
16,270,695
6,873284
4,357,386
1,251,342
6,334,846
39,901,091
1,335,800
4,527,946
41,356
33,665,,182
253,924
10,418,998
10,665,175
1,070,722
211,500
-
596,999
17,000,546
5,690,494
(1,395,264)
211,500
-
2,895,855
11,839,733
2,545,184
-
2,899,223
7,557,622
1,104,062
-
39,901,091
33,665,182
Currents Liabilities
a)
b)
c)
d)
Short-term borrowings
Trade payables
Other current liabilities
Sort-term provisions (Income tax)
TOTAL
II.
ASSETS
(1
)
Non-Currents Assets
a) Fixed assets
i.
Tangible assets
ii. Intangible assets
iii.
Capital work-in-progress
b) Non-current investment
c) Deferred tax assets (Net)
d) Long term-loans & advances
e) Other non-current assets
(2
)
As at 31.03.2014
Current Assets
a) Currents Investments
b) Trade Receivable
c) Cash and cash equivalents
d) Short term-loans & advances
e) Other non-currents assets
TOTAL
90000000
80000000
70000000
60000000
50000000
liabilities
40000000
Asset
30000000
20000000
10000000
0
2013-14
2014-15
In above graph show that the current asset and current liabilities are increase form financial year
2013-14 to financial year 2014-15.
Particular
63,823,764
63,763,141
II
Other Income
1,357,623
540,063
65,181,387
64,303,204
3,356,850
28,875,820
19,738,597
85,000
12,644,801
907,382
65,608,450
4,560,704
28,911,400
23,117,500
80,250
2,788,558
422,283
67,167
59,947,862
(4,27,062)
4,355,343
Tax Expenses:
Current tax
Deferred tax
(2,465,986)
41,356
1,395,264
(2,465,986)
1,436,620
2,038,924
1,436,620
Net Profit
2500000
2000000
1500000
Net Profit
1000000
500000
0
2013-14
2014-15
The chart shows that the company revenue is increase from 1,436,620 to 2,038,924
which is 41% increase in net profit. The performance of the company is increase in
financial year 2014-15.
As at 31 march 2015
As at 31 march 2014
(427,062)
4,355,343
12,461,070
7,052,113
(10,694,857)
(5,687,689)
2,515,898
4,364,386
Net Increase/(decrease) in
cash & cash equivalents
(A+B+C)
Cash& Cash equivalents at the
beginning of the year
Cash & Cash equivalents at
the End of the year
( opening cash)
4,282,111
5,728,810
7,557,622
1,828,812
11,839,733
7,557,622
Use of ITeS: All the work is done online portal is online based where customer has to
register email id and few details and executives are provided email id from which they can
fetch the details of the customer there they can check the status like for how many years
customer has filed the ITR from taxspanner, payment status , whether customer ITR filed or
not, etc.
B.
C.
Data Analysis
1. On the basis of data provided company has large number of customers filing ITR.
2. Taxspanner has a tie up with companies to get large number of customers and
they provide various discount coupons
3. Details of customers are provided to executive of taxspanner so that they can
easily contact them.
4. With PAN and email id customer details are extracted from the portal easily.
5. Within 24 hours company has a policy to revert back to the customers over the
email.