Data Entry
Zen IT || Process to Enter Depreciation Chart under the Business and Profession Head
Process to Enter the Depreciation Chart under the Business and Profession Head: There are two methods to feed the depreciation chart: 1. Import Process 2. Manual Entry Method 1. Import Process: Business Profession → Depreciation Chart Import ...
Zen IT || Process of Data Feeding in NRI Provision
NRI Provision in Income Tax (India) The taxation rules for Non-Resident Indians (NRIs) differ from those for residents. NRIs are only taxed on income earned or accrued in India under the Income Tax Act, 1961. 1. Determining NRI Status: An individual ...
Zen IT || Where to Feed Closing Inventory (Closing Stock) in a Company
Where to Feed Closing Inventory (Closing Stock) in a Company: To enter Closing Inventory (Closing Stock) in Zen IT, follow these steps: Step 1: Go to Transaction >> Balance Sheet >> Formats: Step 2: Click on Closing Inventories Button: Step 3: Feed ...
Zen IT || Process for Entering and Calculating Deduction under Section 80GG
Section 80GG of the Income Tax Act provides a deduction for individuals who do not receive a house rent allowance (HRA) but are paying rent for residential accommodation. This document outlines the eligibility criteria, data entry process, and ...
Zen IT || JSON Generation Error → Tenant Details Missing or Zero
JSON Generation Error: 1. String '' is less than minimum length of 1. Path 'ITR.ITR2.ScheduleHP.PropertyDetails[1].TenantDetails[0].NameofTenant', line 109, position 18. Solution: This type of error occurs in two different scenarios: When an ...
Zen IT || Process to Merge Trial Balance
Process to Merge Trial Balance: Step 1: Go to Transaction >> Balance Sheet >> Trial Balance: Step 2: Click on Merge Trial Balance Button: Step 3: Here’s how you can merge the Trial Balance: Steps to Merge the Trial Balance Select the Merge Option: a. ...
Zen IT || Process for Entering Agricultural Income Details
Process for Entering Agricultural Income Details Follow the steps below to accurately record agricultural income in the system: Step 1: Navigate to the "Transactions" section and select "Other Sources Income". Step 2: Choose the "Agricultural Income" ...
Zen IT || How to Feed Director Signatory Details in Software for Company Auditor Information
How to Enter Director/Signatory Details in Software for Company Auditor Information Process to Feed Director/Signatory Details Step 1: Go to Transactions → Balance sheet → Director/Signatory: Step 2: Feed Director/Signatory Details Name and DIN ...
Zen IT || How to Prepare Return for Condonation of Delay u/s 119(2)(b)
How to Prepare Return for Condonation of Delay u/s 119(2)(b) Condonation Request u/s 119(2)(b): A taxpayer can request Condonation of Delay u/s 119(2)(b) when they fail to file an Income Tax Return (ITR) within the due date due to genuine hardship or ...
ZenIT || ITR Balance Sheet & Profit and Loss Excel Export & Import Process
ITR Balance Sheet & Profit and Loss Excel Export & Import Process: A. Excel Export Process: 1. Blank Excel Template Export Process: Step 1: Go to Tools >> Excel Template >> Template Others: Step 2: Enter the Required Data in The Template: 2. Filled ...
Zen IT || How to Add Bank Account Details in Software
How to Add Bank Account Details in Software Step 1: For Add New Client In The Software Please Follow the Knowledge Base. Click Here To Open !! Step 2: Go to Transaction and Then Click on The Additional Information (Bank & Credit Card Detail) Button: ...
ZEN IT || Process for Feeding Ordinary Business Details
To input ordinary business details into the system, please follow the steps outlined below: Step 1: Add Business Information Navigate to Transactions → Business and Profession Income Step 2: Select the "Ordinary" Option Ensure the "Ordinary" option ...
Zen IT || Process for Entering Expenses Details in the "Other Sources" Head
Process for Entering Expenses Details in the Other Sources Head Follow the steps below to accurately feed other expenses details under the "Other Sources" head in the software: Step 1: Access the "Other Source Income" Head Navigate to the Transaction ...
ZenIT || Process to Import Members/Trustees Details from Previous Year to Current Year
To import Members/Trustee details from the previous year into the current year, please follow these steps: Step 1: Access the List of Members/Trustees Section Navigate to the Transaction button and select the List of Members/Trustee option. Step 2: ...
ZenIT || Process to Enter Legal Heir or Guardian as Representative Assessee
How to Register Legal heir Through Software: To register a Legal Heir through the software, Please Follow these Steps!!. How to Feed Representative Assessee Details In Software: 1. Steps to Feed Representative Assessee Details in Case of a Deceased ...
Zen IT || Exemption Claiming u/s 10 Amount Not Considered as Exemption in Computation in ITR 7
Exemption Claiming u/s 10 Amount Not Considered as Exemption in Computation in ITR 7 If the exemption under Section 10 is not being considered properly in ITR 7 for an AOP Trust registered under Section 10(23C)(iiiab), follow these steps to resolve ...
Zen IT || Process for Feeding Setoff and Brought Forward Losses
Process for Feeding Setoff and Brought Forward Losses: There are two options available for entering the brought forward losses in the software: Import from Previous Year Manually Enter the Amounts 1. Import from Previous Year: Step 1: Navigate to ...
Zen IT || How to Enter MSME Amount in Tax Audit
How to Enter MSME Amount in Tax Audit To enter the MSME (Micro, Small, and Medium Enterprises) amount in a Tax Audit report, follow these general steps: Step 1: Go to Audit >> Tax Audit >> New 3CD W.E.F 20/08/2018 >> Question No. 22 >> Enter The ...
Income Tax || Assessment Year Selection
The Assessment Year (AY) is the 12-month period that follows the Financial Year (FY). During this time, income earned in the Financial Year is assessed and taxed. Both FY and AY commence on 1st April and end on 31st March of the subsequent year. For ...
Zen IT || Claim Other Person TDS Amount as per Rule 5A/37BA (2)
How to Claim Another Person's TDS Amount as per Rule 5A/37BA(2) This process allows you to claim TDS (Tax Deducted at Source) credited to another person’s account as per Rule 5A/37BA(2). Follow these steps to claim the TDS: Step 1: Go to Transaction ...
Income Tax || Process of Filing Section 8 Company Return
Income Tax Return for Section 8 Company According to the Companies Act, 2013, a Section 8 company is one that operates with the primary objective of promoting education, arts, sports, commerce, social welfare, charity, research, religion, ...
Excel Import → Subscript Out of Range - Error in Excel Import
Root Cause of the Error: This issue primarily occurs when you import an Excel sheet and modify the formatting of the software's predefined Excel sheet. Solution: To resolve this issue, please follow these steps: Step 1: Open the Excel sheet that you ...
Zen IT || Transfer TDS to Another Person as per 5A/Rule 37BA (2)
How to Transfer TDS to Another Person’s as per 5A/Rule 37BA(2) This process enables you to transfer your TDS (Tax Deducted at Source) to another person's as per 5A/Rule 37BA(2). Please follow these steps: Step 1: Go to Transaction >> Tax Details: 1. ...
Income Tax || Process to File Form 3CEB Audit Report
Form 3CEB is a statutory form required under Section 92E of the Income Tax Act, 1961. It is a report certified by a Chartered Accountant (CA) and is mandatory for taxpayers who engage in: International Transactions: Transactions between associated ...
Income tax || Enable 80IAC Deduction Head for Company Status
Process to Enable the 80IAC Deduction Head for Company Status When Option Disable in the Deduction Tab Eligibility Criteria for 80IAC Deduction Incorporation Date: The startup must be incorporated or registered between April 1, 2016 and March 31, ...
Income Tax || Key Persons Details
How and Where to Fill Key Persons Details Completing the Key Persons Details is a straightforward process that can be done using manual entry or various import options. Follow these detailed steps to ensure accuracy: Option 1: Manual Entry Step 1: ...
Income Tax || Share Holding (Schedule SH-1)
How and Where to Fill Share Holding (Schedule SH-1) To complete the Share Holding (Schedule SH-1) section, follow the steps provided below. You can use Manual Entry, the Excel Import Process, or Import Data from Previous Year methods based on your ...
Income Tax || Old Name of the Organisation in ITR-6
Where to Show the Old Name of the Organisation in ITR-6 If there has been a change in the company’s name, the details of the Old Name of the Organisation must be furnished in the ITR-6 form. Follow the steps below to enter this information in the ...
Income Tax || Foreign Assets (Schedule FA)
How and Where to Fill Foreign Assets (Schedule FA) To accurately complete the Foreign Asset (Schedule FA) section, follow these detailed steps: Option 1: Manual Entry Step 1: Navigate to the Relevant Section Open the application or software. Go to ...
Business Profession → Depreciation Chart Import Process
The software offers multiple options to import the depreciation chart, making it easy to integrate data for accurate computation. Below is an explanation of each option: Import from Previous Year Import from Balance Sheet Import from Balance Sheet ...
Zen IT || Excel Import Process in Form 10BB
To efficiently import bulk data into Form 10BB using Excel, follow these steps: Step 1: Locate the Import Option On the left side of the form, find the "Particulars Annexures" section. Click on the option to Import Bulk Data using Excel. Step 2: ...
Zen IT || Process to File Form 10BB Audit Report
What is Form 10BB ? Form 10BB is a statement required to be furnished by charitable or religious trusts, educational institutions, or hospitals to claim exemption under Sections 10(23C)(iv), (v), (vi), or (via) of the Income Tax Act, 1961. It is ...
Zen IT || Enable 80PA Deduction Head for Company Status
Process to Enable the 80PA Deduction Head for Company Status When Not Visible in the Deduction Tab Applicability: Section 80PA of the Income Tax Act, 1961, allows a 100% deduction of profits and gains attributable to an eligible business of a ...
ITR-6 Computation alert → Provision for Current Tax in General Information dose not match with Income Tax Paid payable in MAT Addition Detail
Provision for deferred tax in General Information does not match with Deferred Tax in MAT Deduction details. This alert appears while generating the ITR-06 computation: Error message: Solution: Navigate to Transaction and click on the MAT/AMT option. ...
Zen IT || Guidance for Filing ITR-7 for Section 11 for AY 2024-2025
Guidance for Filing ITR-7 for Section 11 (Trust Registered u/s 12A/12AA) for AY 2024-2025 Trusts and charitable organizations registered under Section 12A/12AA can claim exemptions under Section 11 if specific conditions are met. This guide explains ...
Income Tax || Export and Import Capital Gain Data via Zerodha Excel Template
Steps to Export and Import Capital Gain Data via Zerodha Excel Template Exporting Capital Gain (Tax P&L) Data from Zerodha Step 1: Access the Tax P&L Section Log in to your Zerodha account. Click on the Reports tab. Step 2: Select Tax P&L Choose the ...
Tax Audit || How to round off depreciation amount In form 3CD point no 18
To round off the depreciation amount in Form 3CD (Point No. 18), you should follow these steps: Calculate Depreciation: Calculate the depreciation as per the applicable method (Straight Line Method or Written Down Value method) under the Income Tax ...
Income Tax || Form 10B/Form 10BB → JSON Import Process
To successfully import a 10B/10BB JSON file, please ensure that the master data for the specific client, classified as [Association of Persons (Trust)] status, is already present in the software. If the client does not yet exist, you will need to ...
Income Tax || How to Change the Tax Slab Rate for a Company
Tax Slabs for Domestic Company for AY 2024-25 1. Companies with Total Turnover or Gross Receipts during FY 2020-21 up to ₹400 Crores: Income Tax Rate: 25% 2. Companies Opting for Specific Tax Regimes: Section 115BA: Income Tax Rate: 25% Section ...
Income Tax || TDS Details
To enter TDS/TCS details in the software, please follow the process outlined below: Steps for Manual Entry of TDS/TCS Details : Navigate to "Transactions → Tax Detail". By default, the TDS Details section is selected. If you're entering details ...
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