Data Entry
Income Tax || Change Code
Resolution : To do this Go to Client selection window (F8) >> Select Client you wish to Edit / Change the Code Number -- Note : Selected Client / Active Client Code could not be changed. Select Client and Click on Edit Button -- Message Appears - ...
Sign Up Error > Time out occurred. Please try after some time.
Download the certificate from the link below: https://letsencrypt.org/certs/isrgrootx1.pem Click on Windows Button and type mmc. Execute mmc “Run as Administrator”. It would open the console Window. On Opening of Console Window, go to ...
XML Tally Data Import - Tally Prime
To import Trial Balance using XML Tally through Tally Prime, you are requested to please export the Trial Balance and List of account from Tally Prime application and then import the same in Zen IT Software. To Export Trial Balance using Tally Prime ...
Trial Balance import error - "Please unlock the Schedule before Importing Trial Balance
Trial Balance import error - "Please unlock the Schedule before Importing Trial Balance Possibile Solution - Step 1 - Go into Transactions >> Balance Sheet > Schedules Step 2 - Now unlock schedule If still problem persists then refreshassessment ...
80ccd(2) eligible amount is not reflecting in the Computation
80ccd(2) eligible amount is not reflecting in the Computation The Central Government or any other employer makes any contribution to his account referred to in that section, the assessee shall be allowed a deduction in the computation of his total ...
"Cost of acquisition without indexation" in other assest not allowed
"Cost of acquisition without indexation" in other assest not allowed As per Guidelene of ITR Forms and Schema of thr Income Tax Department, "Cost of acquisition without indexation" in other assest not allowed. In case of any doubt, please refer to ...
Register Digital Signature Certificate FAQ
Register Digital Signature Certificate FAQ Q1. What is DSC and why is it required? Digital Signature Certificate (DSC) is the electronic format of a physical or paper certificate. DSC serves as proof of identity of an individual or Organization for a ...
Income Tax Slab for FY 2020-2021 (AY 2021-2022) in India
Income Tax Slab for Resident Individuals aged less than 60 Years(Both Male & Female) Budget 2020 has given the individuals options to choose from FY 2020-21 onwards. Either to opt for the same tax rates which were applicable in last year or the new ...
Section 115BAC
Section 115BAC Section 115BAC is the newly inserted section in the Income Tax Act, 1961 that deals with the new income tax regime. This section and alternate tax regime was introduced in Union Budget 2020 and is applicable to individuals and Hindu ...
Client Master - Not able to select country (Other than India)
Solution : At the time of Client Creation if the user address is out of India, You need to select State as - 'OVERSEAS', Now you have to select the Country. Once the State and Country has selected, save the record. Hope this ...
How to Compare new Tax Regime v/s old tax Regime on Single Page?
Under the new tax regime tax is payable at lower slab rates on the income up to Rs. 15 lakhs as compared to old regime. Under the new regime tax slabs rates of 5%, 10%, 15%, 20% and 25% are applicable on each successive increase of Rs. 2.50 lakh ...
How to select New Tax Regime in Income Tax Software?
Form 10IE To Select New Tax Regime In Budget 2020, taxpayers were given an option to choose between the old and new tax regime. Under the new tax regime, taxpayers have an option to pay lesser tax on the total income. That means taxpayers will not ...
Trust return - AY 2015-16 - how to enter value in Amount applied to charitable or religious purposes in India during the previous year - capital account (11(1A))
Trust return - ay 2015-16 - how to enter value in Amount applied to charitable or religious purposes in India during the previous year - capital account (11(1A)) Solution Go into transactions → Trust Regd. U/s 12 → Point No 1 Select here Purpose of ...
Deprecation mismatch error
Deprecation mismatch error Deprecation as per General info -P&L not Match with the Deprecation separately consider Solution The deprecation shown in the profit and loss (general information bs/p&l) is should be equivalent which has ...
Interest payable by the Assessee for Defaults in Furnishing the Return of Income required by a Notice under Section 148 [Section 234A(3)]
Interest payable by the Assessee for Defaults in Furnishing the Return of Income required by a Notice under Section 148 [Section 234A(3)] The interest will be payable for the period commencing on the date immediately following the expiry of time ...
80 C deduction
In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, ...
In Income Tax - Client is shown in "Edit Client" List but not shown in Client Master.
Solution: This issue occurs when you create a Client with the Status of "Company Other Than Domestic Company Or Government", and these Status are not according to the Income Tax Department. So to resolve the issue , please Create a New Client Master ...
Income Tax Slab Rates for FY 2020-2021 (AY 2021-2022)
What is Income Tax? An income tax is a tax that governments impose on income generated by businesses and individuals within their jurisdiction. By law, taxpayers must file an income tax return annually to determine their tax obligations. Income taxes ...
How to update Income Tax Auditor Software manually
Solution: In Case of Client is using Spectrum software and wants to update the Zen Income Tax Auditor only : To resolve the error please follow the steps provided below: 1. Go to Root location of the software - "C:\Program Files (x86)\K.D.K. ...
Not able to insert amount in deduction 80P (option disabled) in case of co-operative society return
Not able to insert amount in deduction 80P (option disabled) in case of co-operative society return Solution : Please note deduction 80P is applicable in case of ITR5 and in case of ITR7 it will be disabled. When you create a client ...
ITR 7 - Where we can enter Deductions under section 57
ITR 7 - Where we can enter Deductions under section 57 The income chargeable under the head "Income from other sources" shall be computed after making the following deductions, namely :— (i) in the case of 17[dividends, other than dividends ...
How to Carry forward TDS Amount?
Tax Details The 'Tax Details' tab shows all the details of the tax deducted, collected, and deposited with the government against your Permanent Account Number (PAN). It usually contains details of tax deducted by your employer, banks, and ...
How to Import Genius Software Income Tax Data in KDK Income Tax Software?
Regarding the data import we are using Import Utility. For Downloading Import Utility Go to the Root Location of the software : C:\Program Files (x86)\K.D.K. Software\KDK Support OR C:\Program Files\K.D.K. Software\KDK Support ...
Computation error regarding Depreciable Asset mismatch
Computation error regarding Depreciable Asset mismatch Possible Resolution The capital gain shown in the deprecation chart is should be equivalent which has entered in the capital gains head (Depreciable Asset) Go into transaction → business and ...
Speculative Business Data entry Procedure
Speculative Business Data entry Procedure A flow is being suggested for entering the information under Speculative Business Information is required to be filled under the following sections: 1. General Information >Profit & loss account 2. Business & ...
In Income Tax Auditor > When IFSC Code is not found
IFSC Code not found In the Income Tax Auditor software, you can search the IFSC code of most of the banks. If you are not able to search the IFSC code in the software, then follow the procedure given below for its solution. Step 1 First of all, you ...
Income Tax - Refund status
How to check Income Tax Refund status To check the refund status, follow the procedure given below. Go into Transaction > Return Filing Status Select the client whose refund status is to be checked . click on update refund status Hope this ...
Which schedule is to be filled for claiming exemption u/s 10(23)(C)(vi)?
Procedure to be followed for schedule is to be filled for claiming exemption u/s 10(23)(C)(vi)? Income to be disclosed in Schedule AI and/or Schedule VC For this Go to Transaction > Other Source Income 1. Other Donation is known as ...
Income Tax - Form 35 filing Process
What is Form 35? Provisions relating to the form of appeal to Commissioner (Appeals) are contained under rule 45 of the Income Tax Rules. As per the said rule 45, an appeal to the Commissioner of Income Tax (Appeals) needs to be made in Form No. 35. ...
Tax Audit Applicability For Financial Year 2019-20 (Assessment Year 2020-21)
Tax Audit Applicability For Financial Year 2019-20 (Assessment Year 2020-21) Under section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover, or gross receipts, in business exceed ...
26AS Notice related concern
Error Description: The gross receipts/income, on which tax has been deducted, are to be entered in the schedules under the respective heads on income, as they are assessable in the year in which the credit for the TDS is being claimed. ...
Error in income tax Auditor > Run time error 0
Solution: Step 1. To resolve the error, Go to Root location of the software - "C:\Program Files (x86)\K.D.K. Software\KDK Support" OR "C:\Program Files\K.D.K. Software\KDK Support" Step 2. Open Update.exe file and click on Download ...
File ITR-3 in the software for AY 2020-2021 Using Different Cases/Scenarios
There are three major scenarios while filing ITR-3 in the software : 1st Case: If the user has only one business, then he is required to provide the details of his profit and loss ration under the respective business head (Ordinary, Speculation or ...
Error in Income Tax Auditory > [mysqld-4.0.13]Can't find file:'it_*****.MYI' (error: 2) / error: 145 / error: 144
If there is any sort of malfunctioning in executing the software and due to any reason if the software gets automatically closed /shutdown, the user would encounter the below errors. ...
Where we get the amount for Section 36 > Other Information > Point 6K
Solution: This information will import from Tax audit > Point no 20(b) > [Details of contributions received from employees for various funds as referred to in section 36(1)(va)] For fill the data in Tax Audit Go to Audit > Tax Audit > New 3CD W.E.F ...
80CCG Deduction
What is 80CCG? Known as Rajiv Gandhi Equity Savings Scheme, it was in 2012-13 that 80CCG came into effect. The purpose of this tax-saving scheme was to encourage the first-time investors and strengthen investment force in securities market. Under ...
House Rent Allowance (HRA) Calculation
WHAT IS HRA ? House Rent Allowance or HRA is a part of the salary provided by an employer to his employee for his rented accommodation. It forms part of the salary paid by the employer to their employee. How is Exemption on HRA calculated ? ...
DEBT Mutual fund data entry Process
Regarding this You are requested to click on Help Button in Capital Gain Window. Excel sheet is opened with > Entries of Capital Gain in Different Groups with Different Cases. DEBT Mutual fund data entry is given below. Hope ...
How to register as a Legal Heir on behalf of deceased to do e-filing?
User should register as a legal heir to do e-filing on behalf of deceased.Following are the steps for registration as legal heir : Step 1: LOGIN to e-filling application and go to "My Account > Register as Representative". Select Request ...
How to Prepare Final Accounts in Partnership Firm
Process First Go to Final Accounts Tab. In this click on Create Business > Enter Business Name and Save. Now, Click on Create Partner Button on Left panel. Enter Partner Names and Profit Ratios. Now ...
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