Income Tax

An income tax is a tax levied on the financial income of persons, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax. Individual income taxes often tax the total income of the individual (with some deductions permitted), while corporate income taxes often tax net income (the difference between gross receipts, expenses, and additional write-offs).

ProTech Income Tax :

A user friendly and very easy to operate software for computation of income and income tax, income tax return for all types of assessees, challan & various reports. ProTech Income tax maintains the complete information of clients in a database. The software automatically compute taxable income under various heads and income tax thereon. taking care of various ceilings, deductions, set-off carry forward of losses. Generates various MIS reports. ProTech Income Tax has been developed under expert guidance of reputed Tax Consultants, Advocates and Chartered Accountants.

• User friendly software for computation of income, income tax and preparation of income tax returns.

• New Form 1 containing FBT, Tax Audit, Balance sheet, P&L A/c, Fund Flow Statement and other information and facility to generate file for transmitting the return and schedules thereto electronically.

• Facility to view/save/print returns form / challan form in MS word format.

• Automatic calculation of Fringe Benefit and tax, surcharge and education cess and interest u/s 115WJ and 115WK

• Automatic calculation of Interest u/s 234A/234B/ 234C.

• Automatic calculation of Block wise depreciation

• Facility to add unlimited employer, unlimited house properties, unlimited capital gain asset, unlimited fixed assets for depreciation

• Facility to print blank return and fill the preprinted return form

• Facility to input monthly figures in case of salary income

• Help has been provided at various places displaying provisions of the act for ready reference while input

• In case of more than one self occupied house properties, automatically exercise the option of choosing one house property as self occupied in a manner which is most beneficial for the assessee

• In case of Long term listed shares, automatically calculates tax @ 20% with indexation or 10% without indexation whichever is lower

• No need to calculate deduction u/s 54F manually and enter the amount of deduction in each asset, ProTech automatically calculates deduction u/s 54F in a manner most beneficial for the assessee

• Clubbing of minor income

• Automatic set off of losses in the manner most beneficial for the assessee

• Facility to view/print filled challan for deposit of tax