CO-Operative Society ITR Selection Procedure

CO-Operative Society ITR Selection Procedure

ITR Selection procedure in case of Co - Operative Society

The Income Tax Auditor has provided the option, to select either ITR- 5 or ITR - 7 in case the status of the client is Co-operative Society. Certain check points where the user can decide whether the Co-operative society has to be filed under ITR- 5 or ITR-7 have been mentioned below:
  1. At the time of creating the new master.
  2. At the time of client selection.
  3. At the time of changing the Assessment year.

At the time of Creating the Master  :

When the client master is being created, the status should be selected as Co-operative Society. Once the data required has been provided and the details are saved, following message will appear. 
"Whether falling u/s  10 and liable to file ITR-7" , if the requirement is for ITR-5 then click on NO and if it is for ITR-7 then click on YES.

Either at Client selection or at the time of Change in the Assessment Year

  1. The Option for Selection of ITR 5 or ITR 7 would be a choice again when the user selects a new assessment year. 


  • If the user selects "Yes" then ITR-7 will get generated and the below screen will appear to file ITR-7.


  1. If the user selects "No" then ITR-5 will get generated and the below screen will appear to file the same.
      

Note:

  • The selection of ITR is required once for a particular assessment year and after selecting the ITR, the ITR type cannot be changed further.

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