The report title “The basic aspects of Accounting and Taxation in rattanindia Power limited”. The report gives an overview of company’s process of Accounting and Taxation. Information is gathered from secondary …show more content…
It is establishing grinding units for manufacturing cement in Nashik, Maharashtra with the target markets of Mumbai, Pune, Thane and Nashik.
The shares of Rattanindia Power Limited has been listed in National Satock exchange (NSE) and Bombay Stock Exchange (BSE). As per 2013-14 report , the company has share capital of Rs. 2642.73 cr. with an authorised capital of 5000 cr with a face value of Rs.10.
The major competitions of Rattanindia Power Limited are NTPC, Power Grid Corp , NHPC and Tata Power.
TDS (Tax deducted at source)
It is the collection of revenue at source of income. It is an indirect way of collecting tax, the collected tax is supposed to be deposited with the Central Government. It is managed by Central Board of Direct Taxes (CBDT). TDS is deducted on taxable income but, must not be calculated on conveyance allowance, medical allowance, rent allowance and deductible investments under sections like 80C, 80CC, 80D, 80DD, 80DDB, 80E, 80GG and 80U.