Tally.ERP 9 with its new release 3.0 has lots of new features. One of the main attraction of this release is Income Tax computation for Employees. With payroll in place this feature now complements payroll of Tally. Now Employees salary calculation as well as its Income Tax computation is now possible. As described Tally Income Tax computation has following features.
- Forms 16, Form 16AA*, Form 12BA
- Form 24Q* (Quarterly) and Form 24* (Yearly) as hard copy and ‘e’ formats
- ITR1 to file Return
- ITNS 281 Challan
Following reports in Income Tax has been provided
- Employee wise – Computation Report
- Employee wise – Salary Projection Report
- Challan Reconciliation report
- Income Tax related Exception Reports
This presentation gives us detailed view of how Income Tax can be computed and How to see above mentioned reports.
ApniTally readers can ask questions related to this feature as comment. I would respond to queries.