INCOME TAX

 Definition- The direct tax which is paid by individuals to the Government of

India is known as Income Tax.
 It is imposed on our income.
 Most important source of income of the Government.

SALES TAX

 It is an indirect tax.
 it is levied at the time when sale or purchase of goods takes place.
 The dealer must deduct sales tax from bill and deposit it in govt. within a month or
quarter as applicable.
 Definition- The tax which is levied on sales of goods and services is known as
sales tax.

EXCISE DUTY

 Is the tax levied by the central govt. on the goods produced or manufactured in India.
 It is an important source of revenue to the government.
 It is an indirect tax like sales tax on producer/ manufacturer at factory level.
 The manufacturer passes this tax on the customer as a part of the price on the goods
sold by increasing the price of the goods.
 Definition - Excise duty is a tax on production of an item imposed by the central
govt. on the manufacturer or producer of a commodity.

CUSTOM DUTY

 It is a type of indirect tax imposed on goods imported into India as well as on goods
exported from India.
 Import of goods means bringing goods into India and export of goods means taking or
sending goods out of India.
 it is generally based on the value of goods or upon the weight , dimension or other
criteria of the item .
 It is the major source of revenue.
 The central govt. has emergency powers to increase import or export duties whenever
necessary after a notification in the session of Parliament.
 Definition- a tax levied on imports or exports by the custom authority of a
country to raise State revenue and to protect domestic industries from more
efficient competitors from abroad.
 PROVIDENT FUND
 It is for the benefit of employees who as it provides a sense of security to the industrial
workers.
 It mainly provides retirement benefits or old age benefits.
 Both employer and employee contribute a fixed percentage of his salary or wages.
 The Government passed an act in 1952 called Employees Provident Fund Act.
 This act is possible to factories and establishments which have been in existence for
atleast 3 years when the number of employees is 50 or more than 5 years when the
number of employees is from 20-50.
 It takes care of the following needs of the members-
a) Retirement
b) Housing
c) Medical Care
d) Education of children
e) Family obligation
f) Financing of Insurance Policies

MAINTENANCE MANAGEMENT

 May be defined as scientific and systematic up keep of machines, equipment's and

other plant facilities.

OBJECTIVES OF MAINTENANCE MANAGEMENT

 Minimizing the loss of productive time.

 Minimizing the loss due to production stoppages.
 The prime objective is to keep fit the plant item such as machinery ,equipment etc at
lowest possible cost.
 To minimize accidents in repair of safety device.
 To maximize the useful life of the equipment.

PREVENTIVE MAINTENANCE

 The principle of preventive measure is 'Prevention is better than cure'.

 The primary goal is to avoid failure of equipment.
 This may be by preventing the failure before it actually occurs.
 Four aspects are very important- Inspection (I), Cleanliness(C), Lubrication (L)
and Routine Repairs (R)
 BENEFITS OF PREVENTIVE MEASURES

 Prevent problems before they occur.

 Ensure personnel safety.
 Lower overall maintenance cost.
 Improve system reliability.
 Extend the life of equipment.

TYPES OF PREVENTIVE MAINTENANCE

a) Running Maintenance :
it can be performed while the item is in service. For example- lubrications of
moving parts.
b) Scheduled Maintenance:
is a procedure aimed at avoiding breakdowns. It incorporates inspections,
lubrication, repair which if neglected can result in break down. This practice is
followed for overhauling of machines, cleaning of water, white washing of
buildings etc.
c) Shut Down Maintenance-
This maintenance is performed during shut down period of plant when the
production system is not working. Shut down maintenance is performed generally
after 3-6 months.

CHAPTER-6
 CUSTOMER RELATIONSHIP MANAGEMENT

It is the methodology of establishing , developing , maintaining and optimising a long

term mutually valuable relationship between customers and organisation.
It is also called customer service management.
It refers to the methodologies and tools that help to learn more about customers needs
and behaviours in order to develop stronger relationship with them.
it is building and maintaining a long term customer relationships.

PHASES OF CRM

a) Acquiring Customers
b) Retaining customers
c) Enhancing Customers

NEED OF CUSTOMER RELATIONSHIP MANAGEMENT

 Acquiring new customers

 Developing or enhancing the value offered to customers
 Transforming the customer experience
 Enhancing customer loyalty and retention to increase profits
 Budgeting and forecasting volumes of sales
 Designing solutions for enhancing loyalty programs.
 for increasing profit
 for increasing customer satisfaction
 Growth for companies.

CUSTOMERS

A customer is also called client, buyer or purchaser, is usually used to refer to a current or
potential buyer or user of the products of an individual or organisation, called the supplier,
seller or vendor.

TYPES OF CUSTOMERS

i. Customer Loyalty-
  these customers need to be communicating on a regular basis by telephone,
mail, email etc.
 Nothing will make a loyal customer feel better than showing them how much
seller value them.
 Many times, the more you do for them ,the more they will recommend to
others.

ii. Discount customers-

 These types of customers shop frequently , but make their decisions based on
the discount policies.

iii. Impulse customers-

 These type of customers don't have buying a particular item as their priority of
their 'To Do' List, but come into the store on a whim.
 They will purchase what seems good at the time .

iv. Need Based Customers-

 They have a specific intention to buy a particular type of item.

 People in this category are driven by a specific need.
 This type of customers enter the shop to buy the product of their need and if
their need is not fulfilled they leave the shop right away.
 They can also become loyal customers if they are well taken care of.

v. Wandering Customers -

 They don't have any need or desire in mind when they come into the store.
 For many stores they are the largest segment in terms of traffic, while , at the
same time , they make up to the smallest percentage of sales.