Wazirpur partners get tax savvy

NEW DELHI: North-West Computer Traders Association recently held a seminar for its members. The event was attended by around 50 channel partners from the region. During this event, professional charted accountants (CA) were invited to have a word with the members about their legal and administrative formalities, such as the required documents for sales transactions.

This seminar was actuated by the enhancement of harassment cases through which partners undergo by the officials of the Sales Tax Department.

"Despite the fact that our business transactions were genuine, sales tax executives would come for inspection, look around our offices and accuse us for not following the rules and regulations. There are times when the inspection guys would look into our records, whereby we had addressed quotations to our customers and accuse us of cash sales," informed Mukesh Gupta, President, North-West Computer Traders Association.

He added that as an association, it was its responsibility to inform members and ensure that they are aware about the rules and regulations, so they are not dumb founded next time an executive from tax department levies unjust accusations at them.

The association wishes to organize another seminar in November-end. This will aim at providing training sessions on inventory and finance for members. Prominent and successful traders will be selected and then invited to speak to the members and address their queries. "We work on wafer thin margins in trading. People are not sure about inventory or financing details. We have called industry leaders to speak to members about various aspects of inventory and finance, like when to pick up stock and gauzing other trends that can help their business. These leaders are successful because of their planning skills and knowledge of important aspects of business, like inventory and finance," said Gupta.

Other executive members of the sssociation include Avishkar Arora of ALA Computers as Secretary and Sanjay Gupta of AVS Infotech as Treasurer.