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Chapter 60: Tax

  Date: June 5, 2009Time: 10:15 AMLocation: Salt Lake Office, Kolkata – Conference RoomThe sun shone brightly through the tall gss windows of the Salt Lake office, casting a golden glow across the sleek conference room. The air-conditioning hummed softly, battling against the dry summer heat that had already begun tightening its grip on Kolkata. The faint aroma of freshly brewed coffee lingered in the room, a silent witness to the gravity of the meeting about to unfold.

  Aritra sat at the head of the polished wooden table, fingers tapping lightly against the armrest of his chair. His gaze flickered across the rge projector screen, where a spreadsheet filled with rows of revenue, expenses, and tax calcutions was neatly dispyed. Today wasn’t about innovation or technology; today was about corporate responsibility and financial reality—tax filings.

  His financial director, Rakesh Mehta, a meticulous man in his te forties with graying hair and a sharp analytical mind, adjusted his gsses before clearing his throat. “We have to finalize our corporate tax filings today. The numbers have been cross-checked, and I will present the final financial breakdown for approval before submission.”

  Aritra gave a small nod. “Go ahead.”

  Rakesh clicked on the first slide, and the revenue figures from the st six months fshed across the screen. The Nova One had surpassed all expectations, and the company’s earnings had skyrocketed beyond initial projections.

  Company Financial Report (October 2008 – March 2009)Total Revenue from Nova One Sales: 3.25 billionOther Income (Investments, Royalties, etc.): 120 millionTotal Revenue: 3.37 billionEven though the revenue was immense, scaling up a company of this size came with equally staggering costs. Manufacturing, logistics, R&D, marketing, and employee saries had eaten into the profits, but even after accounting for all operational expenses, the net profit before tax stood at 1.3 billion.

  Aritra exhaled slowly, absorbing the numbers. The company had grown into a behemoth in just a few months. This wasn’t just about running a business anymore—it was about maintaining a financial empire.

  Rakesh adjusted his tie before continuing. “Since we are officially registered as a domestic company in India, our taxable income falls under the 30% corporate tax bracket. That means, without deductions, our corporate tax liability stands at 390 million.”

  Aritra leaned back in his chair, his expression unreadable. “A hefty sum.”

  Rakesh smirked. “That’s the price of success.”

  One of the junior accountants, Meera, hesitated before speaking. “Sir, we do qualify for some deductions that can lower the overall tax burden.”

  Aritra’s gaze sharpened. “Show me.”

  Meera quickly pulled up the next slide, which listed the company’s eligible tax exemptions and deductions.

  Applicable Tax Deductions and Exemptions R&D Tax Exemption for Technology Firms: 45 millionExport-Oriented Unit (EOU) & SEZ Tax Benefits: 30 millionDepreciation Allowance on Equipment & Assets: 25 millionTotal Deductions Applied: 100 millionWith these deductions, the final taxable income was adjusted to 1.2 billion, bringing the final corporate tax amount to 360 million.

  Aritra studied the numbers carefully, his fingers lightly tapping against the table. “So, even after applying every possible deduction, we still owe 360 million?”

  Rakesh nodded. “That’s correct.”

  Aritra sighed but didn’t hesitate. “Proceed with the filing. I want everything clean—no loopholes, no unnecessary exemptions. Make sure we don’t attract any scrutiny from the tax department.”

  Rakesh smiled approvingly. “That’s a good approach. I’ll finalize the submission today.”

  Aritra’s mind, however, was already moving ahead. He had always pnned for this—massive success meant massive responsibilities. This was just the first tax filing of many, and he had no intention of getting caught off-guard in the future.

  “From now on,” he said, looking at Rakesh, “we will set aside tax reserves quarterly. I don’t want st-minute calcutions. I want an automated system that ensures we are financially prepared for every fiscal cycle.”

  Rakesh nodded, already making a note in his ledger. “ I’ll implement it immediately.”

  The meeting wrapped up, but Aritra didn’t move. He remained seated, eyes still locked onto the spreadsheet on the screen. 360 million in taxes. A number so absurdly rge that just five years ago, he wouldn’t have believed it was real.

  And yet, this was just the beginning.

  He had bigger pns, bigger ambitions, and now, with the financial foundation secured, it was time to push forward.

  The Nova One was just a stepping stone. The world hadn’t even begun to see what he was capable of yet.

  And they would.

  Very soon.

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