"Saral Income Tax" software is designed to do Income tax computation, along with Income tax return. Saral Income Tax (ITR Softwre) will help you generate the new Income Tax Return in Print & XML Format.

Forms Covered

ITR 1 - For Individuals & HUF with Salary and Pension and Interest Income

ITR 2 - For Individuals & HUF not having Income from Business or Profession

ITR 3 - For Individuals & HUF being Partners in Firms & not carrying out business or profession under any proprietorship

ITR 4 - For Individuals and HUF having income from a Proprietary business or Prof.

ITR 5 - For Firms AOPs and BOIs( including FBT return)

ITR 6 - For Companies other than Companies claiming exemptions U/s 11

ITR 7 - For Persons including Companies required to file returns U/s 139(4A), 139(4B), 139(4C) or 139 (4D)

ITR 8 - Return of Fringe Benefit (Please see Rule 12 of IT Rules 1962

Features

Saral IncomeTax software is enabled with Tax Computation. User can compute the tax automatically by just entering the income details and other details. Software is enabled with Tax Calculation for following assessment years:

A. Y 2007-08
A. Y 2008-09
A. Y 2009-10

User can create any number of assessees for aforesaid assessment years and compute tax for the same. After computing the Tax, user can generate IT Returns for 2007-08 and 2008-09 assessment years. And with the data entered for 2009-10, the returns can also be generated for the same, once the IT forms get notified by Income Tax Department.

Folowing are the complete feature list of Saral IncomeTax

Data Entry for All ITR Forms [ITR-1 to ITR-8].
Paper Return for ITR-1 to ITR-8.
XML return as per Income Tax Department.
Acknowledgement form for non-ereturn.
Validation of ereturn against DTD Schema.
Create Multiple files for any any number of Assessees.
Export Data to Saral TaxOffice.

Benefits

Simple and ready to use
Minimum time required to get started
Scalable to Saral Tax Office
The easier way to filing IT returns

Useful Tips For ITR eFiling:

Income Tax department has made a drastic change in the IT Returns for the A Y 2007-08. Old Forms have been scrapped and new forms introduced in its place.

In case of Individuals and HUF, there are 4 forms to choose from depending upon the incomes that the assessee has.

ITR Form 1 – For assesses having only Salary (including pension) and interest income

ITR Form 2 – For assesses having income other than income from Business or Profession

ITR Form 3 – For assesses who partners in any Firm and not carrying out business or profession under any proprietorship

ITR Form 4 – For assesses having income from a Proprietary business or profession

In case of others:

ITR Form 5 – For Firms, AOPs and BOIs(including Fringe Benefit Tax Return)

ITR Form 6 – For Companies other than companies claiming exemption under section 11

ITR Form 7 – For Person including companies required to furnish return under section 139(4A), 139(4B), 139(4C) or 139(4D)

ITR Form 8 - For FBT Return

The procedure for filing of Returns can be either electronic or paper return in cases where the assessee is not subject to Audit of Books under section 44AB. But such assessee's may also file e-return. In case where the 44AB audit is compulsory, then the return has to be necessarily ‘e-return'. In case of Companies, it has to be e-return.

Steps involved in efiling:

Choose the software to generate the income tax return

Choose the right form for Individuals based on the income being subjected to tax

Enter the details of the incomes, deductions, exemptions, taxes, TDS, advance tax, self-assessment tax in addition to the general information as required.

In case of Form ITR 4, IRT 5 & ITR 6, also enter the Balance sheet and Profit and Loss information. (Pl note separate annexure is not required)

Validate the return to ensure that the values entered are correct and would get accepted in ITD website. Software would help you in validation.

If filing without Digital signature:

Prepare your Income Tax Return and Generate XML.
Save XML file in your favorite location [Say Desktop].
If not registered, Register Assessee PAN at http://incometaxindiaefiling.gov.in
Login to Income Tax eFiling website .
Click on" Submit your Return" for Respective ITR Form
Select the XML file saved on your computer.
Click on "Submit" button". It will verify the return and then, will show ITR-V with Acknowledgement number.
Take the printout of ITR-V in 2 Copies.
Sign it through Authorised Signatory.
Submit ITR-V [2 Copies] to Local Income Tax Office and collect a copy along with Receipt Stamp.

In this process only ITR-V should be submitted in Hard-Copy [Paper Return] to IT office. No ITR Form Print out to be enclosed.

If filing with Digital signature:

Prepare your Income Tax Return and Generate XML.
Save XML file in your favorite location [Say Desktop].
Connect your digital Signature Certificate - USB Token to your System.
If not registered, Register Assessee PAN at http://incometaxindiaefiling.gov.in
Login to Income Tax eFiling website .
Click on" Submit your Return" for Respective ITR Form.
Select the XML file saved on your computer.
Click on "Digitally Sign" button and select respective digital signature from USB Token.
Click on "Submit" button". It will verify the return and signature, then will show ITR-V with Acknowledgement number.
Take the printout of ITR-V and keep it for future reference along with Paper printout of complete return form.

In all the cases, the paper return can be printed for the purposes of records.