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How to calculate MAT credit to be carried forwarded and its utilization in future years? Published on:14/10/2024
You should use following steps to calculate MAT Credit of current year to be carried forwarded to future years:
     
 
How to enter capital gains of personal / capital asset converted into stock in trade? Published on:14/10/2024
To enter capital gains of personal / capital asset converted into stock in trade, use following steps: • Go to Income details>>Capital gains. • Select asset type. • Tick “Personal asset converted into stock in trade”:
     
 
How can I see all Summary details of GSTPro on Home screen Grid? Published on:07/10/2024
In Taxbase GSTPro given new summary home screen. For open home screen double click on GSTPro >> Taxpayer row.
     
 
What are the New Changes in GSTR 1. Published on:07/10/2024
GSTR 1 summary screen. A) Added count on invoice. Number of invoice inside GSTR 1 table display in summary screen. B) New buttons are provided under Import Data, Get Data & Upload JSON as below.
     
 
Clarification on sections of ITR 7 return filing: Published on:14/09/2024
Please see attached document for Sections.
     
 
Where to enter interest disallowed u/s 23 of MSMED Act in Form 3CD? Published on:13/09/2024
You should enter interest disallowed u/s 23 of MSMED Act in Form 3CD Part B22 23>>22:
     
 
Where to enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act in Form 3CD? Published on:13/09/2024
You should enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act in Form 3CD Part B22 23>>22:
     
 
Where to enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act in ITR? Published on:13/09/2024
To enter disallowance u/s 43B(h) i.e. payment to MSMEs after due date under MSMED Act, use following steps:
     
 
How to claim TDS deducted in hands of other person (spouse/minor child/Rule 37BA) in the return of assessee? Published on:03/09/2024
i)Go to Tax Deduction at Source on Income details screen.
     
 
What is form 26AS? Published on:31/08/2024
It is a consolidated Annual Information Statement for a particular Financial Year (FY). It contains the details of the following:
     
 
My Self-Assessment / Advance Tax in my Annual Tax Credit Statement (26AS) do not reflect the amounts deposited by me. What do I need to do now? Published on:31/08/2024
You need to validate the Challan number and your PAN in such cases.
     
 
What can I do if there is a tax-credit mismatch in one of my filed Income Tax Return? Published on:31/08/2024
If there is a mismatch in TDS :
     
 
How will I know if there is a tax credit mismatch? Published on:31/08/2024
In the Tax Credit Mismatch page, after you enter your details, check for any mismatch between respective TDS / TCS / any other challan amounts
     
 
How to import UDIN Details in TaxbasePro? Published on:31/08/2024
To import UDIN data in taxbase, use following steps: • Go to Master data>>Auditor Information and enter login details of UDIN website:
     
 
If a Company is declaring business income other than presumptive income, then is it mandatory to fill manufacturing account / trading account / profit and loss account / balance sheet? Published on:19/08/2024
Yes, if a Company is declaring business income other than presumptive income, then it is mandatory
     
 
If a foreign company is selecting to offer income only under section 44AE/44B/44BB/44BBA/44BBB/44D, is it mandatory to fill Sl. No. 62 of profit & loss account? Published on:19/08/2024
Yes, if a foreign company is selecting to offer income only under 44AE/44B/44BB/44BBA/44BBB/44D it is mandatory
     
 
I have offered income of "Chapter- XII-G (tonnage)" in Schedule BP. While calculating the tax MAT is getting calculated on the same, but provisions of MAT are not applicable in this case. How to discl Published on:19/08/2024
While calculating MAT, any incomes on which MAT is not applicable needs to be reported at
     
 
In earlier years either me or persons known to me have received notice of 37BA proposing to restrict credit for TDS. What precautions to be taken at the time of filing of return to avoid the same? Published on:19/08/2024
It should be ensured to disclose the gross receipts shown in Form 26AS on which credit for TDS has been claimed,
     
 
Whether ITR 1 or ITR 4 can be filed if taxpayer wants to disclose the special rate incomes in the ITR? Published on:19/08/2024
If Taxpayer has received any special rate income like Income from lottery, Income from transfer of property,
     
 
How to disclose Income by way of winnings from online games in the ITR? Published on:19/08/2024
In case taxpayer has received any income by way of winnings from online games then he is required
     
 
How to disclose Income from the activity of owning and maintaining racehorses in the ITR? Published on:19/08/2024
In case taxpayer has received any income from the activity of owning and maintaining race horses
     
 
How to disclose income received from Virtual Digital Assets (VDA) in the ITR? Published on:19/08/2024
In case taxpayer has earned any income from sale of virtual digital assets then he is required to disclose
     
 
Whether deduction u/s. 80DD or 80U can be claimed without filing the form 10IA? Published on:19/08/2024
Taxpayer is required to e-file the form 10IA to claim the deduction u/s. 80DD or 80U.
     
 
How to enter quarterly breakup in schedule CG? Published on:19/08/2024
In Schedule CG quarterly breakup to be entered on the basis of applicable tax rate.
     
 
Whether current year losses can be carried forwarded to next year without adjusting the same against the current year income? Published on:19/08/2024
In Schedule CYLA, current year losses will not be allowed to be carried forward to the next year to the extent of incomes available for set off.
     
 
In Part A – Other Information, why the entry at Sl. No. 10(h) "Any sum payable to a micro or small enterprise beyond the time limit specified in the Section 15 of the Micro, Small and Medium Enterpris Published on:19/08/2024
Since the provisions of disallowance are applicable from the AY 2024-25,
     
 
How to disclose income received from winning from lottery, crossword puzzles, races, card games etc. in the ITR? Published on:19/08/2024
In case taxpayer has received any income from winning from lottery, crossword puzzles, races, card games etc. then
     
 
Can I adjust brought forward business loss or brought forward depreciation against the presumptive income declared u/s. 44BB or 44BBB? Published on:19/08/2024
No. Taxpayer cannot setoff the amount of brought forward business loss or
     
 
What precautions to be taken to claim TDS/TCS deducted/collected in the hands of others? Published on:19/08/2024
Before claiming credit of TDS/TCS from other PANs, please ensure that the other assessee has provided
     
 
If the return for previous years were filed after due date, then brought forwarded loss from those years can be adjusted from current year income? Published on:19/08/2024
If the return for any year was filed after due date, then the loss is not allowed to be carry forwarded
     
 
I was trying to file return after due date by claiming loss from Business & profession which is on account of "Unabsorbed depreciation". Can the said losses be carried forward to next year? Published on:19/08/2024
If the return is filed after due date, then Business loss cannot be carried forward to next year as per the Act.
     
 
Can Income chargeable to tax at special rate be shown only in Part-B- TI, without giving the details of the same in the relevant schedules? Published on:19/08/2024
Income chargeable to tax at special rate needs to be shown in the relevant income schedules along with Part B-TI.
     
 
What is the structure of the ITR-7 Form? Published on:19/08/2024
The ITR-7 form has been divided into Part A, Part B and Schedules.
     
 
What is the manner of filing of ITR-7? Published on:19/08/2024
ITR-7 can be filed with the Income-tax Department electronically on the e- filing web portal
     
 
1. Are trusts liable for audit under the Income-Tax Act? 2. What are the details of auditor required to be furnished? Published on:19/08/2024
Yes. Where the total income of the assessee as computed without giving effect to the provisions of Section 11 and 12
     
 
What are the details to be provided for claim of Exemption u/s 10(23C)(iv)/(v)/(vi)/(via) of the Act? Published on:19/08/2024
Following are the details to be provided for claim of Exemption u/s 10(23C)(iv)/(v)/(vi)/(via) of the Act :
     
 
Who can verify the income tax return in the case of the company, local authority, political party or AOP? Published on:19/08/2024
The persons who can verify the income tax return in the following cases are:
     
 
What are the details to be provided for claim of Exemption u/s 13A Or u/s 13B? Published on:19/08/2024
Following are the details to be provided for claim of Exemption u/s
     
 
What are the details to be provided for claim of Exemption u/s 11 of the Act? Published on:19/08/2024
Following Are the details to be provided for claim of Exemption u/s 11 of the Act :
     
 
FAQs On ITR7 1. What are the dropdowns to be selected for the field "Section under which registered/provisionally registered or approved/notified"? 2. Section under which return can be filed? Published on:19/08/2024
Enter the section under which registered/provisionally registered or approved/notified under the Income Tax Act.
     
 
What are the schedules which mandatorily are required to be filled for claiming exemption in ITR-7? Published on:19/08/2024
Certain schedules of this return form are mandatorily required to be filled up by assessees claiming exemption under specific provisions. The details are as under :-
     
 
Which information is required to be filled in PART A General of ITR-7? Published on:19/08/2024
In part A General, furnish the information relating to identity of assessee,
     
 
1. Is there any requirement to furnish information regarding any project/ institution run by the assessee? 2. Do I need to furnish the details of registration/Provisional registration or approval obt Published on:19/08/2024
Yes, Name, Nature of activity, classification along with details of registration/ provisional registration
     
 
What are the various acts in which assessee is required to get their books of account audited other than income tax act? Published on:19/08/2024
In case your accounts are required to be audited under any other law (other than Income-tax Act),
     
 
FAQs On ITR7 1. Do I need to mention the Residential Status in ITR-7? 2. Can a representative assessee file ITR-7? 3.Do I need to mention income included in total income for which claim under sect Published on:19/08/2024
Yes. Please specify the residential status in India whether it is Resident or Non-Resident.
     
 
What information is required to be furnished in Schedule VDA, Schedule SI, Schedule 115JD? Published on:19/08/2024
Please fill up the details of the income from transfer of virtual digital assets.
     
 
What information is required to be furnished in Schedule VC, Schedule AI, Schedule A, Schedule OA ? Published on:19/08/2024
Voluntary Contributions [to be mandatorily filled by all persons of filing ITR-7]
     
 
Is it mandatory to furnish "Details of all the Author (s)/ Founder (s)/ Settlor (s)/Trustee (s)/ Members of society/Members of the Governing Council/Director (s)/ shareholders holding 5% or more of sh Published on:19/08/2024
Yes. This information is mandatorily required to be filled in Part A-General mentioning the
     
 
What information is required to be furnished in Schedule R, Schedule IA, Schedule DA? Published on:19/08/2024
Please fill up schedule R for reconciling the Corpus of Schedule J with Schedule Balance sheet.
     
 
FAQs On ITR 7 1.In previous year, I was a partner in a firm. Do I need to furnish this information in ITR-7? 2. What information is required to be furnished if trust held unlisted equity shares at a Published on:17/08/2024
If you were a partner in a firm at any time during the previous year, please furnish the Name & PAN of the firm.
     
 
Can ITR-7 be filed in response to notice/order? Published on:17/08/2024
Yes. In case the return is being filed in response to a statutory notice
     
 
When will a Trust/institutions be eligible for exemption under Section 10(23C)(iiiab), 10(23C)(iiiac), 10(23C)(iiiae) or 10(23C)(iiiad)? Published on:17/08/2024
Trust/institutions are eligible for exemption under Section 10(23C)(iiiab) or 10(23C)(iiiac) only if the Government grants received is more than 50% of the total receipts including voluntary contribution. The below details to be mentioned in Schedule IE-3:
     
 
FAQs On ITR 7 1. What are the details required to be filled to claim Exemption u/s 10(21), 10(21) r.w.s. 35, 10(23AAA), 10(23B), 10(23D), 10(23DA), 10(23EC), 10(23ED), 10(23EE), 10(23FB), 10(29A), 1 Published on:17/08/2024
Details required to be filled to claim Exemption:
     
 
FAQs On ITR 7 1. What is the due date of furnishing the Audit Report? 2. Who are required to file audit report in Form 10B? 3. Who are required to file audit report in Form 10BB? Published on:17/08/2024
Form 10B or Form 10BB or Form 3CEB (in case of international transactions and specified domestic transactions) shall be filed at least one month prior to the due date for filing return of income u/s 139(1).
     
 
What kind of activities in which Institution can be involved? Published on:17/08/2024
Following are the types of activities in which institution can be involved
     
 
How to select tax rate for companies in Taxbase? Published on:17/08/2024
To select tax rate for companies, click on “Determinate Tax Rate” hyperlink on Income details screen as shown below:
     
 
How to select 22% tax rate u/s 115BAA for companies in taxbase? Published on:17/08/2024
To select 22% tax rate u/s 115BAA for companies, use following steps:
     
 
How to select 25% tax rate u/s 115BA for companies in Taxbase Published on:17/08/2024
To select 25% tax rate u/s 115BA for companies, use following steps:
     
 
How to select 15% tax rate u/s 115BAB for companies in taxbase? Published on:17/08/2024
To select 15% tax rate u/s 115BAB for companies, use following steps:
     
 
How to enter details of short-term capital gains / long term capital gains of listed shares/ mutual funds for Non-residents in taxbase? Published on:17/08/2024
There is no separate provision for non-residents to enter capital gains of listed shares/ mutual funds. You should use following steps:
     
 
How to enter details of capital gains from sale of Virtual Digital Assets (e.g. crypto) in Taxbase? Published on:17/08/2024
To enter details of capital gains from sale of Virtual Digital Assets (e.g. crypto), use following steps:
     
 
How to enter business income from sale of Virtual Digital Assets (e.g. crypto) in Taxbase? Published on:17/08/2024
To enter business income from sale of Virtual Digital Assets (e.g. crypto), use following steps:
     
 
How to know which return is to be filed with DSC and when DSC is expiring from Taxbase Software? Published on:12/08/2024
In Assessee Static Information provided new provision to enter whether return is to be filed with DSC & its expiry date as below then save it.
     
 
Why I am getting defective notice after filing return for A Y 24 -25 Published on:12/08/2024
Here are some reasons for Defective Notices for A. Y. 24 - 25
     
 
How to track dividend from TaxbasePro Movement of Shares Module Published on:06/08/2024
From Application go to Movement of Shares Module, it will show you your Investments (Shares) data entry as below.
     
 
How to import Securities data directly from AIS to Capital Gain Published on:06/08/2024
First you need to download AIS / TIS from the income tax portal in the software as below
     
 
How to import Broker Excel in Capital Gain of TaxbasePro Software Published on:01/08/2024
Go to the Income Details Screen as below. Then go to Capital Gain option of Income Details as below.
     
 
How to import other Brokers Capital Gain Excel into TaxbasePro Published on:01/08/2024
Go to the Income Details screen as below. Then go to Capital Gain option of Income Details as below
     
 
How to import broker’s capital gain statement in Taxbase Published on:16/07/2024
To import broker’s capital gain statement in Taxbase, follow below mentioned steps: • Go to Income details>>Capital gains.
     
 
How to import all online details in one click Published on:16/07/2024
To import entire online data in Taxbase, click “Import from portal” button on the upper left corner of Income details screen
     
 
I am trying to generate ITR 1/2/3/4/5 for AY 2024-25. Error is shown “Please select option in General Information Published on:16/07/2024
This error is shown due to mismatch of selection of tax regime on Income details and answer to 115BAC question in other form data>>General Information I.
     
 
How to check Comparison of Old & New Regime from Taxbase for your Assessee Published on:03/05/2024
You need to go to Reports option on the top >> then select Income Tax >> Compare Old / New Tax Regime. In this report you can compare tax computation of current year over previous years income, or you can compare tax computation for same Assessment year.
     
 
How to Activate your assessee for My Taxbase APP Published on:25/04/2024
Make sure your asseessee has his mobile number and email id entered in the software then go to applicaiton >> My Taxbase
     
 
FAQ's on ITR U Published on:28/03/2024
How does taxbase picks up option in ITR U- A7: period of filing updated return?
     
 
What are new changes for ITR 4 A Y 24 - 25 Published on:28/03/2024
Tax rate changes for new regime u/s 115BAC New regime is default regime
     
 
FAQ's on My Taxbase APP Published on:05/03/2024
Why company needs tax declaration? Which deductions under chapter VI-A can I show in my tax declaration?
     
 
What are new changes for ITR 3 A Y 24 - 25 Published on:29/02/2024
1) Tax rate changes for new regime u/s 115BAC 2) New regime is default regime
     
 
What are the new changes in ITR 2 for A Y 24 - 25 Published on:29/02/2024
1) Tax rate changes for new regime u/s 115BAC 2) New regime is default regime
     
 
What are the changes for ITR 1 A Y 24 - 25 Published on:23/02/2024
Below are the changes for ITR 1 A Y 24 - 25
     
 
How do I reset my Taxbase Software’s User Id’s Password Published on:25/01/2024
Clock on Taxbase Icon on Desktop you will get login screen as below. You will see Forgot Password option on the login screen previous to Login button shown in red color, click on this option you will get below screen
     
 
Who can file ITR-5 Form Published on:25/01/2024
Firm & Limited Liability Partnership (LLP)
     
 
What are the Pre-requisites for filing ITR-5 Published on:25/01/2024
Registered user on e-filing portal with Active PAN
     
 
What are the Pre-requisites for filing ITR-6 Published on:25/01/2024
Registered user on e-filing portal with Active PAN
     
 
FAQ's on ITR 6 Filing Is it mandatory to file form 10IB/10IC/10ID within due date to claim the benefit of New Tax Regime under section 115BA/ 115BAA/ 115BAB respectively? Published on:25/01/2024
Taxpayer is required to file the form 10IB/10IC/10ID within due date
     
 
FAQ;s on ITR 5 Filing Is taxpayer required to file Form 10IF every year for claiming the new Tax Regime? Published on:25/01/2024
No. Taxpayer is not expected to file the form 10IF every year.
     
 
How to calculate 87A rebate for AY 2024-25 onwards for new regime Published on:25/01/2024
For new regime, 87A rebate for AY 2024-25 will be calculated as 100% of tax amount or Rs.25,000/- whichever is lower. Full rebate is available only if total income of the assessee is upto Rs.7,00,000/-.
     
 
How to work with Movement of Shares in TaxbasePro Published on:15/01/2024
Go to Application >> Select Movement of Shares >> It will display list of Assessee
     
 
How to see ITR filing status on the Taxbase Home Screen? Published on:11/01/2024
First select assessee then go to Online Services >> Tick on API Mode >> Click on ITR Dashboard >> then it will display you option to select A. Y. from the list.
     
 
How to see Aadhar PAN Link status on the Taxbase Home Screen Published on:11/01/2024
Go to Miscellaneous >> Taxbase Home >> Select your Group or Assessee in the Group and click on update button it will display list of assessee’s or assessee as below.
     
 
Check Inoperative PANs- Process in Taxbase Published on:05/01/2024
Following is the process to check the PAN status on the basis of Aadhaar linking in Application TDSPro. PAN status (operative or inoperative) will be fetched in 26Q data entry while entering deduction details and TDS rate will be changed to 20% in case of inoperative PAN.
     
 
ITR 7 Related some more FAQ's for AY 23-24 Published on:21/11/2023
For Details download the file.
     
 
Who can verify the income tax return in the case of the company, local authority, political party or AOP? Published on:21/11/2023
The persons who can verify the income tax return in the following cases are:
     
 
Who can file ITR-7? Published on:21/11/2023
ITR-7 Form can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D).
     
 
What is the structure of the ITR-7 Form? Published on:21/11/2023
The ITR-7 form has been divided into Part A, Part B and Schedules
     
 
What is the manner of filing of ITR-7? Published on:21/11/2023
ITR-7 can be filed with the Income-tax Department electronically
     
 
What is applicability to file Form 10B? Published on:21/11/2023
Form 10B is required to file where, -
     
 
What are the details of auditor required to be furnished? Published on:21/11/2023
Furnish the following details of auditor:
     
 
What are the various acts in which assessee is required to get their books of account audited other than income tax act? Published on:21/11/2023
In case your accounts are required to be audited under any other law
     
 
What information is required to be furnished if trust held unlisted equity shares at any time during the previous year? Published on:21/11/2023
If you have held investment in any unlisted equity shares at any time
     
 
What information is required to be furnished in Schedule 115TD? Published on:21/11/2023
This Schedule should be filled out by the "Specified Person",
     
 
What information is required to be furnished in Part B3 (Part B TI)? Published on:21/11/2023
This Schedule can be filled by ONLY assessee claiming exemption
     
 
What are the incomes that need to be reported in Income & Expenditure Statement if you are claiming exemption under section 10(23A) or 10(24)? Published on:21/11/2023
In Schedule IE-2: In Part A In Part B
     
 
Do I need to mention income included in total income for which claim under section 90/90A/91 has been made? Published on:21/11/2023
Yes, indicate whether any foreign source income is included in total income
     
 
Do I need to furnish the details of registration/Provisional registration or approval obtained? Published on:21/11/2023
Please fill in the complete and correct details relating to registration/provisional
     
 
Is there any requirement to furnish information regarding any project/ institution run by the assessee? Published on:21/11/2023
Yes, Name, Nature of activity, classification along with details
     
 
When will a Trust/institutions be eligible for exemption under Section 10(23C)(iiiab) or 10(23C)(iiiac)? Published on:21/11/2023
Trust/institutions are eligible for exemption under Section 10(23C)(iiiab) or 10(23C)(iiiac)
     
 
What are the dropdowns to be selected for the field "Section under which registered/provisionally registered or approved/notified"? Published on:21/11/2023
Enter the section under which registered/provisionally registered or approved/notified under the IncomeTax Act
     
 
Do I need to mention the Residential Status in ITR-7? Published on:21/11/2023
Yes, please specify the residential status in India whether it is Resident or Non-Resident.
     
 
What are the details to be provided for claim of Exemption u/s 13B? Published on:21/11/2023
Registration details u/s 13B should be mentioned in Schedule Part A General
     
 
What are the details to be provided for claim of Exemption u/s 11 of the Act? Published on:21/11/2023
Registration/approval details u/s 12A/12AB should be filled in Schedule Part A General
     
 
What are the details to be provided for claim of Exemption u/s 10(23C)(iv)/(v)/(vi)/(via) of the Act? Published on:21/11/2023
Registration/approval details u/s 10(23C)(iv)/(v)/(vi)/(via) should be filled in Schedule Part A General
     
 
What are the details to be provided for claim of Exemption u/s 13A? Published on:21/11/2023
Section under which exemption claimed should be mentioned as Section 13A in Schedule Part A General
     
 
Section under which return can be filed? Published on:21/11/2023
Section under which the ITR-7 return can be filed
     
 
What are the schedules which mandatorily are required to be filled for claiming exemption in ITR-7? Published on:21/11/2023
Certain schedules to this return form are mandatorily required to be filled
     
 
In previous year, I was a partner in a firm do I need to furnish this information in ITR-7? Published on:21/11/2023
If you were partner in a firm at any time during the previous year, please furnish the Name & PAN of the firm.
     
 
Which information is required to be filled in PART A General of ITR-7? Published on:21/11/2023
In part A General, furnish the information relating to identity of assessee
     
 
What is the kind of activities in which Institution can be involved? Published on:21/11/2023
Following are the types of activities in which institution can be involved: Charitable & religious:
     
 
Can ITR-7 be filed in response to notice/order? Published on:21/11/2023
Yes, In case the return is being filed in response to a statutory notice,
     
 
How to import AIS / TIS with API Published on:20/10/2023
Go to Income Details, then go to AIS TIS View Tab click on API Mode
     
 
How to make TDS Offline Payment from TaxbasePro Published on:09/10/2023
Go to Challan, select 24Q, 26Q, 27Q or 27EQ
     
 
How to make TDS Online Payment from TaxbasePro Published on:09/10/2023
Go to Challans select 24Q, 26Q, 27Q or 27EQ
     
 
How to File Form 10IE From TaxbasePro Published on:29/09/2023
Select Assessee, then go to Income Details, Fill Business or Profession Income then click on Form 10IE
     
 
How to Update Outstanding Demand From I T Portal Published on:29/09/2023
Select Assessee, then go to Online Services, tick on API Mode
     
 
How to Prepared & Upload Form 15H Published on:22/09/2023
Go to Application TDS >> E-file >> E-file Form 15G/15H
     
 
How to Prepared & Upload Form 15G Published on:22/09/2023
Go to application TDS >> E File >> E file Form 15G/15H
     
 
How to Import A Tax & S Tax from AIS Published on:14/09/2023
Go to Income Details screen click on view button
     
 
How to Import Capital Gain Entries from AIS Published on:14/09/2023
Go to Income Details Screen click on View
     
 
How to update Activity Center with API Published on:08/09/2023
Go to Online Services click on API mode, then go to Activity Center
     
 
How to download Intimations with API from IT Portal Published on:08/09/2023
Select Assessee, then go to Online Services click on API Mode
     
 
How to update Refund Status from TaxbasePro Published on:29/08/2023
Select Assessee, then go to Online Services, Tick on API Mode
     
 
How to File Form 10E From TaxbasePro Published on:29/08/2023
Go to Income Details Screen, Select Salary, enter details of Arrears, Gratuity or Compensation
     
 
How to download AIS & TIS and transfer data to relevant heads. Published on:16/08/2023
Select Assessee name, then select A Y then go to Income Details,
     
 
How to validate TDS challan with API Published on:16/08/2023
Go to Challans select section like 24Q, 26Q & other
     
 
How to prefill assessee details with API Published on:10/08/2023
Go to Online services select API at bottom
     
 
How to Update ITR Dashboard with API Published on:05/08/2023
Go to Online Services Select API Mode then go to ITR Dashboard
     
 
How to do Data Entry of Form 27Q? Published on:25/04/2023
Step 1: Click On Form 27Q in TDS Pro Home Window. Step 2: After clicking On Form 27Q Below Screen is shown enter all the details. Step 3: For Preparing the challan Click on Prepare Challan On TDS Data entry window
     
 
How to enter form 27EQ Data Entry? Published on:25/04/2023
Step 1: After Clicking On Form 27EQ below screen is shown and Enter all the details. Step 2: Select entry and click on prepare challan button given at the bottom. Step 3: Fill all the details in the payment challan Step 4: Click on Online Payment button
     
 
How to Generate Computation Sheet of Employee in TDSPRO Software? Published on:25/04/2023
Step 1: On TDSPro Home >> Select Group & Deductor Name & Click on Update button Step 2: Then go to Reports >> Salary >> Select Computation Sheet option Step 3: Then select Employee and click on OK Step 4: It will print Computation Sheet of that particular Employee
     
 
How to Generate Salary TDS Deduction Report of Employee in TDSPro Software? Published on:25/04/2023
Step 1: On TDSPro Home >> Select Group & Deductor Name & Click on Update button Step 2: Then go to Reports >> Salary >> Select TDS Deduction Report option Step 3: Then select Employee and click on Report option Step 4: It will print TDS Deduction Report of that particular Employee
     
 
How to Generate Salary TDS Estimation Report of Employee in TDSPRO Software? Published on:25/04/2023
Step 1: On TDSPro Home >> Select Group & Deductor Name & Click on Update button Step 2: Then go to Reports >> Salary >> Select TDS Estimation Report option Step 3: Then select Employee and click on Print option Step 4: It will print TDS Estimation Report of that particular Employee
     
 
How to Generate TDS Entry Register in TDSPRO Software? Published on:25/04/2023
Step 1: On TDSPro Home >> Select Group & Deductor Name & Click on Update button Step 2: Then go to Reports >> TDS Entry Register
     
 
How to Generate TDS Payment Register in TDSPRO Software? Published on:25/04/2023
Step 1: On TDSPro Home >> Select Group & Deductor Name & Click on Update button Step 2: Then go to Reports >> TDS Payment Register Step 3: Then select Type of Payee and click on Print Step 4: It will print TDS Payment Register
     
 
How to Generate TDS Payment Report of Employee in TDSPRO Software? Published on:25/04/2023
Step 1: On TDSPro Home >> Select Group & Deductor Name & Click on Update button Step 2: Then go to Reports >> Salary >> Select TDS Payment Report option Step 3: Then select Furnishing Period & Click on Print Step 4: It will print TDS Deduction Report of that particular Employee
     
 
How to update TDS Dashboard for return filing details from the software Published on:25/04/2023
Please make sure you have entered your Login id & Password for Traces in the Software, then Go to Management >> TDS Dashboard you will get below screen.
     
 
How can I find out TDS mismatch in Software and TDS consolidated (.TDS) file? Published on:25/04/2023
Step 1: Go to TDS/TCS Data Entry -> TDS Reconciliation -> Select Form 26 Step 2: When you will select respective quarter, it will show you TDS consolidated section wise entries in the left-hand side of the screen Step 3: Then click on Import From .TDS Conso file button given at bottom.
     
 
How do I digitally sign Form 16 Or Form 16A from Software? Published on:25/04/2023
Step 1: Go to Online Services -> TDS Online Services -> Form 16, you have already generated merged Form 16 Part A & Part B now for digitally sign click on Digital Sign Step 2: After this it will display all the Form 16 generated in the PDF format
     
 
How do I download & generate Form 16 Part A & Part B From software? Published on:25/04/2023
Step 1: Go to TDSPro Home Window and select your Dealer form the list Step 2: Go to Online Services and Select From 16
     
 
How do I merge Form 16 Part A & Part B from Software? Published on:25/04/2023
Step 1: Go to Online Services -> TDS Online Services in this go to Form 16 Step 2: We have already created Part A & Part B of Form 16 from software so click on Merge Part A & Part B option, it will open new window with employee’s name
     
 
How to import 24Q data from Excel to Software Published on:25/04/2023
Go to TDS / TCS Data Entry -> Form 24Q -> Monthly Data Entry
     
 
How to import 26Q data from Excel to Software Published on:25/04/2023
Go to TDS / TCS Data Entry -> Form 26Q
     
 
How to import 27Q data from Excel to Software Published on:25/04/2023
Go to TDS / TCS Data Entry -> Form 27Q
     
 
How to import 27EQ data from Excel to Software Published on:25/04/2023
Go To TDS / TCS Data Entry -> Form 27EQ
     
 
ITR 6 Changes AY 2023-24 Published on:24/04/2023
Modified Return u/s 170A Dividend u/s 115BBD removed Tax on transfer of Virtual Digital Asset
     
 
ITR 5 Changes AY 2023-24 Published on:24/04/2023
Remuneration to the Retired Partners Opting of new regime u/s 115BAD (for co-operative societies) Tax on transfer of Virtual Digital Asset
     
 
ITR 4 Changes AY 2023-24 Published on:24/04/2023
There are no major changes in ITR 4 for AY 2023-24 as compared to AY 2022-23. There are two important changes in ITR 4 as follows:
     
 
ITR 1 Changes AY 2023-24 Published on:24/04/2023
There are no major changes in ITR 1 for AY 2023-24 as compared to AY 2022-23. The only important change is question of depositing Rs.1 Crore or more in current account of the bank is removed from ITR 1 as it is not relevant for salaries employees not engaged in any business/ profession.
     
 
ITR 2 Changes AY 2023-24 Published on:24/04/2023
Tax on transfer of Virtual Digital Asset Donation Reference Number TCS of spouse u/s 5A or other person under rule 37BA
     
 
ITR 3 Changes AY 2023-24 Published on:24/04/2023
Tax on transfer of Virtual Digital Asset Donation Reference Number TCS of spouse u/s 5A or other person under rule 37BA 89A relief claimed in earlier year
     
 
How to enter speculation loss in ITR 3? Published on:23/02/2023
Step 1: Go to Profit and Loss account>>Serial Number 64>>Turnover from speculative activity>> Enter details. Step 2: Go to Business/Profession>>auto pick profit in net profit Step 3: Go to details>>Treated separately>>Tick on Income from speculation business>>Enter description>> Enter amount of loss as negative amount.
     
 
How to update TDS Dashboard with API from Taxbase? Published on:06/02/2023
Go to Application TDS -> Select your Group & Name, then go to Management in this click on ITD(API). Then select Form Type and Quarter to update the TDS Dashboard.
     
 
How do I download Intimation with API in Taxbase? Published on:06/02/2023
Go to Online Services, on this screen select API mode, then click on Intimation, it will show you below screen.
     
 
How do I download e-Proceeding with API in Taxbase? Published on:06/02/2023
Go to Online Services, on this screen select API mode, then click on e-Proceeding, it will show you below screen.
     
 
How do I download Refund Status with API in Taxbase? Published on:06/02/2023
Go to Online Services, on this screen select API mode, then click on Refund Status, it will show you below screen.
     
 
How do I download Dashboard with API in Taxbase? Published on:06/02/2023
Go to Online Services, on this screen select API mode, then click on Dashboard, it will show you below screen.
     
 
FAQ's on ITR U Published on:31/01/2023
What is the time limit for ITR U of AY 2022-23? Can we claim refund for AY 2022-23 if it is updated return?
     
 
How is Sr No. 3- Amount payable (if any) of ITR U calculated? Published on:27/01/2023
It is calculated as follows
     
 
While preparing TDS Return it creates only two files, how to clear this issue Published on:18/11/2022
Before selecting Quarter & Form Type “PLEASE MAKE SURE YOUR MACHINE HAS JAVA VERSION 1.181 INSTALLED.”
     
 
How interest u/s 139(8A) is calculated Published on:10/11/2022
Interest u/s 139(8A) is calculated on differential tax amount which is payable in updated return. Differential tax is amount payable as per updated return less tax payable as per original ITR.
     
 
Which amount is to be entered in ITR U>>Amount payable/refund as per last valid ITR Published on:10/11/2022
In ITR U>>Sr No. 5 or 6i or 6ii>>Here, amount payable or refund as per last filed return should be entered
     
 
Which amount is to be entered in ITR U>>Additional Income table Published on:10/11/2022
While doing data entry in ITR U, entire income of the assessee for that year should be entered in Income details.
     
 
How tax liability in ITR U is calculated? Published on:10/11/2022
Tax liability in ITR U is calculated as follows
     
 
Where to show tax paid u/s 140B in ITR U Published on:10/11/2022
In self assessment tax>>Click on Tax paid on Updated return>>
     
 
I have received notice in which assessee is a co-operative society and Interest income which is deductible u/s 80P is added to Business Income. Published on:09/11/2022
Interest/dividend from other co-operative society is not exempt income, but it is deductible u/s 80P. However, while making data entry in Business/Profession>>Treated separately, users tick “Income claimed exempt” for such income.
     
 
FAQ's on Form 3CEB From Department Published on:07/11/2022
FAQ's on Form 3CEB as per Government
     
 
Various FAQ's on ITR 1, 2, 3, 4, 5, 6 & 7 from Department Published on:07/11/2022
ITR 1 ITR 2 ITR 3
     
 
Various FAQ's on ITR 7 From Department Published on:07/11/2022
Under which section ITR-7 return can be filed Can ITR-7 be filed in response to notice/order
     
 
Do I need to furnish the details of registration/provisional registration or approval obtained? Published on:07/11/2022
Please fill the complete and correct details relating to registration/provisional registration
     
 
What are the dropdowns to be selected for the field "section under which registered / provisionally registered or approved/notified"? Published on:07/11/2022
Enter the section under which registered/provisionally registered or approved/notified under the Income Tax Act.
     
 
What are the kind of activities in which institution can be involved? Published on:07/11/2022
Charitable & religious: Research: Professional Bodies :
     
 
Which information is required to be filled in PART A General of ITR-7 Published on:05/11/2022
In part A General, furnish the information relating to identity
     
 
What are the schedules mandatorily required to be filled for claiming exemption in ITR-7 Published on:05/11/2022
Certain schedules of ITR-7 return form are mandatorily required to be filled up by assessees claiming exemption under specific provisions, as per the following list
     
 
What is the manner of filing of ITR-7 Published on:05/11/2022
ITR-7 can be filed with the Income-tax Department electronically on the e- filing web portal of Income-tax Department (www.incometax.gov.in) and verified in any one of the following manners–
     
 
What is the structure of the ITR-7 Form Published on:05/11/2022
ITR-7 form has been divided into Part A, Part B and Schedules.
     
 
While trying to file the ITR-7 claiming exemption under below sub-sections, I am not able to find the relevant dropdown in ITR 7 utility. What should I do in this regard Published on:05/11/2022
Section 10(20); Section 10(23AA); Section 10(23AAB); Section 10(23BB);
     
 
Who can file ITR-7 Published on:05/11/2022
ITR-7 Form can be used by persons including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)
     
 
Online Services from Taxbase Software is not working, how it will work Published on:02/11/2022
On 19th of October there is changes in the Chrome Drivers, if you have not updated your Chrome then Online Services will not work.
     
 
AIS TIS Related more queries Published on:29/10/2022
In AIS/TIS, once the data is imported, click on “Transfer data to relevant head”.
     
 
While filing TDS return, why two options for downloading CSI file are given Published on:29/10/2022
From September 2022 onwards, TDS payment facility is made available from Income Tax portal.
     
 
How to compare AIS with Income details in ITR using taxbase Published on:29/10/2022
Go to Income details>>Select AIS/TIS>>Click on View button Click on Download AIS/TIS.
     
 
How to e-pay tax through ITD portal from taxbase? Published on:29/10/2022
To pay tax from ITD portal, select the challan and click on E-payment button in Self-assessment tax / Advance tax.
     
 
I have received notice in which assessee’s other income is added in business/profession. Published on:28/10/2022
As per department, amount entered in Form 3CD or General Information II in Income not credited to P&L
     
 
I have received notice in which special rate income is taken in full whereas I have set off the losses against it. Published on:28/10/2022
If assessee has current year loss of House Property or Business/Profession, department first sets off this income
     
 
I have received notice of the assessee in which 234C interest additional liability is demanded. Published on:28/10/2022
Below may be the reasons of such notice:
     
 
I have received notice for ITR 5/ITR 7 which is AOP/Trust. Tax is levied at MMR wherein normal rate of tax is selected in static information Published on:28/10/2022
As per section 167B of the Income Tax Act, 1961, if share of members of AOP/BOI is not determined, such AOP/BOI is taxed at Maximum Marginal Rate.
     
 
I am trying to generate 27EQ Return for Quarter 2 of FY 2022-23. My challans are shown as mismatched. Published on:13/10/2022
If payment is made on NSDL website, then Challan input file (.CSI) will be available on NSDL website only after 3 – 4 working days from the date of payment of the challan to the bank.
     
 
While filing ITR 7 for AY 2022-23, warning message is shown Published on:28/09/2022
As per department rules, application of income should match with contributions received. Hence, user should ensure that in Trust specific details, Sr No 1 + 3 should be equal to or more than Sr No. 4.
     
 
How to file ITR U From TaxbasePro Software? Published on:24/08/2022
Select Assessee who’s ITR U you want to file & select A Y 2021 – 2022 as below. On this income details screen click on ITR U given on Top once you click on ITR U then on bottom next to Approved by ITR U button will be displayed as below.
     
 
In case of ITR 6 for AY 2022-23, we have not opted for any section of new regime i.e. 115BAA/BA/BAB. Still I need to fill details in More details tab. Why? Published on:04/08/2022
As per Notified ITR 6 of AY 2022-23, you have to fill details of opting 115BAA/BA/BAB in any previous AY even if you have not opted it in current AY.
     
 
What are changes in rates of surcharge for Individuals for AY 2022-23? Published on:04/08/2022
Surcharge rates for Individuals/HUF/AOP/BOI are as follows
     
 
How to Upload Bank Statement in Taxbasepro Published on:04/08/2022
1. You need to get your any Bank Statement in the Excel format as shown below 2. Then go to Taxbase -> Application -> Bank Statement it will show you below screen 3. Then click on Import File button it will give you below screen
     
 
How to do Data Entry of Form 27Q Published on:21/07/2022
Step 1: Click On Form 27Q in TDS Pro Home Window Step 2: After clicking On Form 27Q Below Screen is shown enter all the details. Step 3: For Preparing the challan Click on Prepare Challan On TDS Data entry window.
     
 
Why is message shown as Tick on Approved By Checkbox before printing return? Published on:16/07/2022
Now it’s a pick time for filing Income Tax Returns as return filing due date is coming near and near. In C. A’s. offices returns are prepared by their assistance and without confirmation it is uploaded on the Income Tax Portal. To avoid wrong uploading of return on the portal it has to approved by authorized person in the office so below message is shown.
     
 
Why Does Indexation value get calculated in TaxbasePro ? Published on:01/07/2022
For this please check below example in this example we have shown two entries of Adiya & Motilal with Sales Value, Acquisition Value & Index Acquisition value.
     
 
How to Clear 115BAC (New Regime Error) From TaxbasePro ? Published on:06/06/2022
When you will go to Income Details Screen and tick in the check box provided for New Regime for new Tax Calculation Process.
     
 
How to Clear 115JC Error while return validating? Published on:02/06/2022
After entering your income details in the respective heads, prints respective Income Tax Return Form then it gives below error message pertaining to 115JC
     
 
How to claim NPS Deduction in TaxbasePro Published on:21/05/2022
First you have to go to Miscellaneous -> Users Parameters -> Taxbase -> Salary and Tick on the option given as Apply 14% deduction for State Government Employees as shown below
     
 
How to increase the font size of Income Details Published on:21/05/2022
When you go to Income Details screen for doing data entry but, font size of the screen is not readable you want to increase the font size of below screen.
     
 
How to check 206AB & 206CCA Compliance from Taxbase ? Published on:29/03/2022
Select Assess who’s compliance you want to check from TDSPro as below Then double click on the deductor it will show you list of deductee as below then export your deductee list from Export PAN given button at the bottom as shown in the screen shot
     
 
What are the Budget Changes in Income Tax For 2022 Published on:17/02/2022
Rationalization of provisions of TDS on sale of immovable property Understanding the 2 year relief Exemption of amount received for medical treatment and on account of death due to COVID-19
     
 
How to do data entry of Deduction under 80M for Companies Published on:07/02/2022
For this you need to enter Dividend Income in Profit Loss account as below and save it Then go to Less Deduction under Chapter VIA / 80C and select section 80M as below.
     
 
What is section 206AB & 206CCA of Income Tax & how it works in Taxbase Software? Published on:13/01/2022
Section 206AB and 206CCA are newly inserted sections in the Income Tax. These sections are special provision for deduction/collection of tax at source at a higher rate for certain non-filers (specified person) of Income Tax Return.
     
 
What are the changes in ITR 7 for A. Y. 2021 - 2022 Published on:13/01/2022
Section 115BBDA- Dividend taxable @ 10% is removed from other special income as it is not applicable from AY 2021-22 onwards.
     
 
What are the changes in ITR 6 for A. Y. 2021 - 2022 Published on:13/01/2022
In AY 2020-21, Schedule DI was to be filled for various investments made after end of the previous year, butt claimed as exemption/deductions as amounts were paid during extension period grated during Covid 19 pandemic. Schedule DI is removed in AY 2021-22.
     
 
ITR 3 Changes for A.Y. 2020 - 2021 Published on:13/01/2022
New question has been given for selecting whether you are opting for new tax regime u/s 115AC. This option is exercised by ticking box on Income details for new regime. In AY 2020-21, Schedule DI was to be filled for various investments made after end of the previous year, butt claimed as exemption/deductions as amounts were paid during extension period grated during Covid 19 pandemic. Schedule DI is removed in AY 2021-22.
     
 
What are the changes in ITR 2 for A. Y. 2021 - 2022 Published on:13/01/2022
New question has been given for selecting whether you are opting for new tax regime u/s 115AC. This option is exercised by ticking box on Income details for new regime. In AY 2020-21, Schedule DI was to be filled for various investments made after end of the previous year, butt claimed as exemption/deductions as amounts were paid during extension period grated during Covid 19 pandemic. Schedule DI is removed in AY 2021-22.
     
 
While Starting Software shows Database Connection Failed Published on:13/01/2022
1. Taxbase.mdb File Corrupt 2. Software Unexpected Close 3. Machine is unexpected Close 4. Software is gone Not Responding every time.so create null Records in Data file
     
 
Some schedules are disabled in ITR 7 details. How to enable them? Published on:13/01/2022
As per Government utility of ITR 7 schedules are enabled/disabled on the basis of return filing section. We follow the same functionality as Govt. Utility. Following schedules are disabled in Taxbase for respective return filing sections.
     
 
Why HUF return with Formation Data as 01/01/0001 is not uploading from the Taxbase ? Published on:13/01/2022
In Govt HUF Schema there is restriction to Accept year as “0” it should be compulsory between 1 to 9 to avoid this you have to follow below steps In Master Data if you entered Date of Formation as 01/01/0001
     
 
What are the new changes of 3CD Audit Report Published on:13/01/2022
In Clause No 18 of Depreciation two new columns are added as "Put to use for less than 180 days" and "Put to use for 180 days or more". These values will be auto-calculated on the basis of date of put to use entered in additions tab.
     
 
How to pre-validate bank account from taxbase Published on:13/01/2022
Open Bank Details Click on Pre- Validate Bank account
     
 
Why dividend break up does not match with dividend entered in Other sources Published on:13/01/2022
Dividend break-up has to be entered Net of interest expenses entered u/s 57. It should match with Dividend other than 2(22)(e) less Interest expenditure in deduction u/s 57.
     
 
How do I prepare Audit Report Form 3CD with previous years 3CD audit XML file in Taxbase? Published on:13/01/2022
Step 1: Go to Miscellaneous -> Taxbase Home -> Select Assessee -> Select previous A Y as 2020 – 2021 Step 2: Go to Forms & Select Form 3CA / 3CB / 3CD as below Step 3: Go to Import XML as below
     
 
How to clear Configuration system failed to Initialize error while viewing reports? Published on:13/01/2022
1. Go to Local Disk C:\ 2. Go to C:\Users 3. Go to C:\Users\Your Users Name 4. Go to C:\Users\Your Users Name \AppData 5. Go to C:\Users\Your Users Name\AppData\Local
     
 
How to enter interest expenditure for dividend income Published on:13/01/2022
>> Income details>>Other sources>>Save dividend entry. >> Thereafter, click on tab Deductions u/s 57 >> Enter amount in below mentioned line.
     
 
How to Generate Form 10IE how it should link on ITR 3 / ITR 4 Published on:13/01/2022
Form 10IE is a declaration made by the return filers for choosing the ‘New tax regime’. The new tax regime is applicable from the FY 2020-21, i.e. AY 2021-22. The choice between ‘New tax regime’ and ‘Old tax regime’ is available to individuals and HUF, which can be opted by filing Form 10IE.
     
 
What are the changes in ITR 3 for A. Y. 2021 - 2022 Published on:13/01/2022
New question has been given for selecting whether you are opting for new tax regime u/s 115AC. This option is exercised by ticking box on Income details for new regime Tax calculation and enability of different sections changes based on whether such option is ticked or not
     
 
What are the changes in ITR 4 for A. Y. 2021 - 2022 Published on:13/01/2022
New question has been given for selecting whether you are opting for new tax regime u/s 115AC. This option is exercised by ticking box on Income details for new regime. Tax calculation and enability of different sections changes based on whether such option is ticked or not.
     
 
What are the changes in ITR 5 for A. Y. 2021 - 2022 Published on:13/01/2022
New question has been given for selecting whether you are opting for new tax regime u/s 115AD. This option is exercised by ticking box on Income details for new regime. Tax calculation and enability of different sections changes based on whether such option is ticked or not.
     
 
What are the surcharge rates of Individuals for A. Y. 2021 - 2022 Published on:13/01/2022
Surcharge rates for Individuals/HUF/AOP/BOI are as follows:
     
 
Common issues on New Income Tax portal Published on:13/01/2022
Our finance ministry & CBDT have taken a decision to switch over from the then income tax website www.incometaxindiaefiling.gov.in”to new website www.incometaxindia.gov.in”. However, users are facing many issues on the new portal due to technical glitches. We have listed out some common issues faced by users:
     
 
Where to enter dividend income credited to P&L, but to be considered separately Published on:13/01/2022
>> Income details>>Business & Profession >> Details>>Treated Separately >> Click on Income/Receipts credited to P & L under other Income>>Other Sources link >>Here, enter dividend and other than dividend income credited to P&L, but to be considered separately in other sources head.
     
 
Why family pension deduction is not fetched automatically in deduction u/s 57? (New regime case) Published on:13/01/2022
>> As per section 115BAC of the Income Tax Act, Deduction under clause (iia) of section 57 i.e Family pension is not allowed.
     
 
How to remove bank accounts mistakenly added on portal Published on:13/01/2022
>> Login on Income tax portal >> Click on My bank Accounts option on left side of dashboard screen >> It will ask you reason for removal. Select the reason and proceed. Such account will be shown in removed bank accounts tab with reason
     
 
Our total income for AY 2021-22 is above 2 Crore/5 Crore. Still surcharge is calculated @ 15%. Why? Published on:13/01/2022
As per Income Tax Act, if your total income consists of Capital gain u/s 112A, 11A or dividend income, you need to check income excluding these 3 incomes. If income excluding these 3 incomes does not exceed 2 Crores, surcharge will be calculated @ 15% even if your total income is above 2 Crores / 5 Crores.
     
 
My due date of return for AY 2021-22 is 31st December, 2021. My tax liability as on 31st March, 2021 is Rs.1,25,000/-. I have paid entire tax along with interest up to November 2021 on 13th November, Published on:13/01/2022
Step 1: As assessee’s tax liability as on 31st March, 2021 is Rs. 1,25,000 i.e. more than Rs.1,00,000/-, due date for the purpose of calculating interest u/s 234A is 31st July, 2021 for non-audit cases. Hence, interest will be calculated from August 2021 till month of filing.
     
 
How to download AIS (Annual Information Statement) from Taxbase Software? Published on:13/01/2022
Go to Online Services -> Download AIS After this it will divert you to Income Tax Website and fetch your login id & password from the software onto Web Site
     
 
How to opt for new tax regime for co-operative societies Published on:13/01/2022
Tick on New Regime u/s 115BAD to opt for New Regime. This option will be seen available only in case of Co-op societies.
     
 
Where to enter dividend US 2 22 e Published on:13/01/2022
Click on Other Sources >>Scroll down on dividend
     
 
Why dividend breakup is required for AY 2021-22 Published on:13/01/2022
Dividend Breakup is required for calculation of interest u/s section 234C. As per Section 234C, Dividend Income is included for calculation of Interest as and when actually received for which breakup of income is required. Earlier, we used to provide breakup of dividend u/s 115BBDA. However, this section is not applicable from AY 2021-22 and dividend is taxed at normal rates.
     
 
What are the changes in ITR 1 for A. Y. 2021 - 2022 Published on:12/01/2022
New question has been given for selecting whether you are opting for new tax regime u/s 115AC. This option is exercised by ticking box on Income details for new regime.
     
 
Why tax is not calculated on Capital gain u/s 112A even though included in total income? Published on:20/12/2021
Capital gain u/s 112A is exempt upto Rs. 1,00,000. It is taxed on amount in excess of Rs. 1,00,000. As per presentation in Govt Utility, such income is included in Total Income in full. However, while calculating tax on it, Rs. 1,00,000 exemption is taken into account.
     
 
Why corpus fund is getting added to total income in ITR 7? Published on:25/11/2021
Please fill below details in Other form data>>ITR details.
     
 
How basic exemption limit is adjusted if total income includes special rate income? Published on:05/10/2021
Basic exemption limit is first adjusted against normal rate income and then special rate income by arranging highest rate income as priority so that tax is calculated in most beneficial manner to the assessee. For example, assessee is below 60 years age, his normal rate income is 1,00,000, Capital gain @ 20% is 1,40,000 and Capital gain @ 15% is 50,000; then basic exemption limit of 2,50,000 will be first adjusted against normal rate income of 1,00,000 in full, then Capital gain @ 20% 1,40,000 in full and then remaining 10,000 will be adjusted against Capital gain u/s 15%. Remaining Capital gain of 40,000 will be taxed @ 15%.
     
 
How to do Speculation Business Data Entry Published on:03/09/2021
Step 1>> Enter Business/Profession>>Balance Sheet>>Click on Profit and Loss Account. Step 2>> Enter details in Sr No 64/65 of Profit and Loss account
     
 
Where to enter details of split? Published on:03/09/2021
There is no specific provision in Taxbase as well as notified ITRs for the same. User needs to enter it in Capital gain>>Shares/Units in the same manner as he enters other transactions.
     
 
What will be fair market value of share in case there is a stock split after 31-01-2018 and thereafter share is sold? Published on:03/09/2021
CBDT has not clarified this matter yet. We recommend to split the fair market rate in the same proportion of split.
     
 
What are the New Features of Taxbase APP Published on:20/08/2021
Please Refer Attachment
     
 
How do I Activate New Tax Regime for Tax Computation Published on:15/07/2021
First you do the Tax Computation
     
 
Which are the new Features of Taxbase APP Published on:21/06/2021
Please Refer Attached File