New Improvements
Zen IT || Union Budget Changes of AY 2025-26
Union Budget Reforms for AY 2025-26 The Union Budget 2024-25 introduces significant reforms to enhance India's financial landscape. Key changes include revised tax slabs, increased deductions and exemptions for salaried employees and pensioners, and ...
ZenIT || How to File Form 10IEA
Form 10IEA : Meaning and Benefits of Form 10IEA: The Budget 2023 proposed to make the new tax regime the default, with a new Form 10-IEA introduced to allow taxpayers to opt for the old regime if they prefer. This form must be filed before the due ...
ZenIT || Changes in 44ADA Feeding As per Budget 2023
Whats New: Budget 2023 increased the threshold under section 44ADA to Rs 75 lakhs from Rs 50 lakhs, provided the cash Turnover are less than 5%. Eligible persons who can take advantage of the presumptive taxation scheme ofsection 44ADA: A person ...
ZenIT || Changes in 44AD Feeding As per Budget 2023
Whats New : The presumptive taxation scheme of section 44AD can be availed only if your total turnover or gross receipts from the business do not exceed Rs. 2 crores for AY 2023-2024 onwards. However, these limits were revised from 2 crores to 3 ...
How to import FORM 16 PDF in KDK Income Tax Software / Spectrum Software
Import Form 16 What is the Use of Importing form 16? Client Master: It will create bulk client master as well as auto-populate their data for salary, House property, other sources and deductions as available in Form 16-part B PDF ...
Return Upload error regarding "In schedule EI"
Return Upload error regarding "In schedule EI Sl.no 7 Should be equal to sum of individual fields of schedule" Possible Solution :- This error is coming because dividend income is entered in the exception head. From F.Y 2020-21, Section 10(34) has ...
HUF Return upload error - "Since status is selected as HUF, the value at filed 44ADA cannot be more than Zero"
HUF Return upload error - "Since status is selected as HUF, the value at filed 44ADA cannot be more than Zero" Possible Solution This error is coming because your assessee status is Hindu undivided family (HUF) and you have entered income in ...
ITR Return upload error regarding In schedule BP amount of "income from other source" reduced from profit and gain of business and profession not tally
ITR Return upload error regarding schedule BP - "In schedule BP amount of "income from other source" reduced from profit and gain of business and profession not tally with sum of (Gross income chargeable to tax at normal applicable rates income ...
Income tax return upload error - "ITR_PDM_Group1 DividendincUs115BBDA"
Income tax return upload error - "ITR2_PDM_Group1 DividendincUs115BBDA Possible Solution Usually this error comes when dividend income head is not selected from the drop down or the date is not entered Hope this Helps
Tax deferred - relatable to income on perquisites referred in section 17(2)(vi) received from employer, being an eligible start-up referred to in section 80-IAC
Tax deferred - relatable to income on perquisites referred in section 17(2)(vi) received from employer 17(2)(vi) received from employer, being an eligible start‐up referred to in section 80‐IAC( Schedule Salary)” “Tax deferred ‐ relatable to income ...
Remuneration Maximum Permissible Limit
Remuneration Maximum Permissible Limit Payment of remuneration to any partner who is a working partner, which is authorized by, and is in accordance with, the terms of the partnership deed and relates to any period falling after the date of such ...
ITR Upload error - TDS credit claimed is more then tax dedcuted
ITR Upload error - TDS credit claimed is more then tax dedcuted Possible Solution - This error occurs when TDS amount claimed is more than TDS deducted amount. Go to Transaction> Tax detail > TDS Detail Hope this Helps
Section 115 A- Tax on dividends, royalty and technical service fees in the case of foreign companies
Rate of tax shall be 20% under Section 115A on dividend (other than dividends referred to in section 115-O) received by a foreign company or a non-resident non-corporate assessee Follow the below steps to enetr Section 115 A detail. Open the Income ...
Form MBP-1 Notice of interest by director
Form MBP-1 Notice of interest by director Every director shall disclose his concern or interest in any company or companies or bodies corporate (including shareholding interest), firms or other association of individuals, by giving a notice in ...
MAT Credit Setoff
MAT Credit Setoff In the assessment year when regular tax becomes payable, the difference between the regular tax and the tax computed under MAT for that year will be set off against the MAT credit available. We understand this from the example ...
24G - Excel import error regarding DDO number
24G - Excel import error regarding DDO number Solution This error come when you import the 24 G detail from excel and entering duplicate DDO number in transaction sheet for same month, as per NSDL guide line same DDO number for same form and month ...
exbace validation error regarding 'DisclosureOfOtherProvisionsTable'
exbace validation error regarding 'DisclosureOfOtherProvisionsTable' 1) Atleast one child member out of { 'WarrantyProvisionMember', 'RestructuringProvisionMember', 'CSRExpenditureProvisionMember', 'LegalProceedingsProvisionMember', ...
XML Upload error regarding schedule DPM
XML Upload error regarding schedule DPM - "Sr. no 6 in schedule DPM should be equal (3+4+5) Or enter zero if result in negative " possible Solution Here, this error basically coming coming for deprecation rate 45% , As per income tax act the rate ...
exabce validation error regarding "Addition To Reserves"
exabce validation error regarding "Addition To Reserves" Solution The value of "Total profit (loss) for period" ,should be equivalent in cash "Statement of profit and loss" and in "Statement of changes in reserves [Table]" Go in to Transaction ...
Error while uploading Rectification return "Gross Total Income does not match with Original filed "
When You upload Rectification return and the error comes "Gross Total Income does not match with Original filed " Possible Resolution When the user is uploading rectification XML, the Gross Total Income and Deductions amount should be the same as in ...
How to change signing person details in Income Tax
How to change signing person details Go into Master > Client master > Edit client Here you select the Assessee to which you have to change the details of the signing person. Here you can change the details of the signing person. Hope this Helps
Income Tax calculation AY 2010-11 (FY 2009-10)
Income Tax calculation AY 2010-11 (FY 2009-10) 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person - Up to 1,60,000 – Nil 1,60,000 to ...
How to import finacle file in e-TDS
How to import finacle file in e-TDS Finacle is banking software, which is providing a report in a text format. The report consist of all financial transaction details, like payment date ,tds deducted amount and amount paid detail during the ...
Unique Document Identification Number (UDIN)
What is UDIN? Unique Document Identification Number (UDIN) is a unique number generated on the UDIN Portal for every certificate and other such documents that have been attested by a Chartered Accountant who’ve registered themselves on the portal. ...