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Publication: Bangalore News Network
Date: 16th June 2007
Link: BNN Website

BNN News Bangalore

Bangalore, India - The Income Tax Department has scrapped Saral 2D, the most popular income tax return filing form for all types of income tax payers for the assessment year 2007-08. Income tax return for Individual, HUF, Firms, Companies and Trust for the year ended 31 st March 2007, which will be filed now has to be filed in the new forms. The forms are based on the Types of Incomes an assessee has as well as their composition - individual, firms, companies etc.,

While the return has done away with annexures to the income tax return, the changes introduced in the forms require much information to be filled up. Also, the no of pages of the return has gone up and many validations to be done before filing.

The return filing, barring individuals having salary income only, are generally done by Chartered Accountants. They handle not only income tax returns, but also other Tax Deducted at Source (TDS) filing, Wealth Tax, Service Tax, Fringe Benefit Tax, prepare Balance sheet, provide Audit Report (where applicable) and other services. Invariably, they work against deadlines.

To enable the professionals handle these changes in the return filing and also to provide the Chartered Accountants fraternity a total solution Relyon Softech Ltd has come out with Software named 'Saral Tax Office'. *This software is total solution to the CA's. It is bound to become the ' Compliance Partner to the CA's. It comprises of two segments viz Compliance Software's and back office automation.

Compliance module covers Income Tax Computation, FBT, Balance Sheet Preparation, Audit Report, Service Tax, Wealth Tax, TDS, ROC Filing Data and Project Reports. The Back office automation covers Billing and receipts, Client Management, Document Management, Library for Books and Journals, Inward and Outward Registers (of letters, files etc.,) petty cash accounting and forms & templates management.

The software permits generation of Income Tax Return (ITR forms 1 to 8) both on detailed computation basis and on summary entry. Returns can be printed and submitted to the Department. It can also be submitted online through the Internet. Host of other reports can be generated.

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