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Saral TaxOffice 8.02 version

Version 8.02 of Saral TaxOffice software has been released on 04 May 2013. The release notes are provided here for the reference.

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Release Note for Saral TaxOffice

Income Tax

Enhancements:

  • Form 16 update as per new format for F.Y. 2012-13
  • Budget changes for A.Y. 2014-15 incorporated
    • For Assessee other than companies Surcharge at the rate of 10% is calculated in case the Total Income exceeds Rs. 1 crore
    • Section 87A: Rebate of income tax in case of certain individuals - An Individual resident whose total income does not exceed Rs 5,00,000; Deduction is allowed - max upto Rs. 2000
    • Domestic companies – Surcharge
      • @ 5% if the Total Income exceeds Rs. 1 crore but does not exceed Rs. 10 crore
      • @ 10% if the Total Income exceeds Rs. 10 crore
    • Surcharge on DDT @10%
    • Other Sources - Sec 115A: Tax on  royalty  - changed from 10% to 25%
    • VIA Deductions
        • 80C – An option is given to "Apply 15% of sum assured" for certain category of persons.
        • 80CCG - The limit of gross total income for claiming deduction has been raised to Rs 12 lakhs from existing Rs 10 Lakhs.
        • New Section 80EE: Interest on loan taken by an Individual for residential house property - Deduction up to Rs 1 Lakh id provided.
        • 80G - Donations made to the National Children’s Fund, 100 % deduction is allowed. Earlier only 50% deduction was allowed.
        • 80GGB & 80GGC - No deduction shall be allowed under this section in respect of any sum contributed by way of cash.
    • Incase return of income is filed with tax payable the same will be regarded as defective. So this will be shown as error while e-Filing the IT return.
  • ITR – In Balance Sheet screen - Total of 'Sources of funds' and 'Application of funds" are shown with difference highlighted in red color.

Details of Version 8.01 is available here >>

 
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