Income Tax

Enhancements:

• Linking of ITR Profit and Loss Account ‘Profit before tax’ to Computation In order to ease the flow of information and to match ITR and computation information, we are introducing special feature in Computation screen of Business and Profession, to Auto Link ITR PL to computation.
• Features of ‘Link to ITR PL’
  • It will link ‘Profit before tax’ entered in ITR -PL to computation
  • If assessee has multiple business then he can optionally choose to use this feature
  • Method of data entry in computation now shifted to Profit Before Tax
  • Efforts made to align data already entered as profit after tax and income tax etc, in this format without losing data
  • Care has been taken to include Net profit when no books of accounts maintained
  • If the user prefers first to the enter Profit before Tax in computation, he can un tick ‘Link to ITR’ option in Business and profession screen of computation and can manually enter the figure
  • As always we are giving warning message, if both (computation & ITR) figures doesn’t match while generating e-return
  • This feature is enabled from the A.Y. 2010-11

Audit Report

Enhancements:

• Switch Asst. Year option provided (available in File menu)

Details of Version 5.07 is available here >>