The fast growing global industry today is in the constant need of a software which can keep a track of the continuous changing laws and statutes which governs it. It is always beneficial to have a strong software working at the back office acting like a law manual as it is difficult to remember updated latest regulations all the time.
TDS return filing software
TDS return software is designed completely according to the guidelines specified by NSDL, fulfilling all the requirements and standards of the Income Tax Department for Government of India. This software basically allows eTDS return generation for Individuals, companies, Trusts, Professionals and Entrepreneurs. It prepares eTDS return for form 24Q, 26Q, 27Q and it also auto generates Form 16, 16A, 27A, 27B, and 27D. TDS return software auto calculates the TDS and can download CSI files.
Why TDS filing important?
According to the Income Tax Act the person who makes the payments has to deduct tax at source with fixed rates. TDS is always calculated and deducted beforehand and deposited with IT department instead of getting tax later. TDS is a part of the tax a person pays and can be explained as “pay as you earn”, where it is calculated and deducted every month from salary and eases the burden at the end of financial year.
It is mandatory to file TDS return if a person is a deductor and is depositing tax, by filling TDS form. This form has all information and details of the heads on which the TDS has to be deducted and deposited by a person. PAN information is very important for Deductor and Deductee, information on tax paid to government and also the TDS challan information is also required to be filed in the form.
Helps in doing PAN verification
Prepares eTDS and eTCS returns for form 24Q, 26Q, 27Q, 27EQ
Automatically deducts the TDS according to the latest updates
Prepares correction returns and simplifies the corrections
It prints the TDS and TCS certificates like 16, 16A, 27D
Automatically downloads CSI file
Prepares NIL returns in one stroke
Provides data back up and restoring facilities
Who uses TDS return filing software?
This software can benefit different category of people who are tax payers like:
Individuals and Hindu undivided families
Business
Co-operative societies
Professionals/ CAs/Doctors etc.
Firms, Corporates and Domestic companies
Charitable institutions
Partnership firms
Sole proprietors
Tax Deduction at Source
Carrying out TDS calculation along with TDS certificate preparation. The good software would also file the quarterly TDS returns.
The TDS return filing software also saves time and money of the companies and make them stand in the competition by investing and getting returns on time. For example: a small enterprise can focus on expanding the business without worrying about the tax filing procedure and formalities as it can be handled by installing the TDS return software effectively and efficiently.
Who Uses GST Software in India?
GST software is used by various small businesses, professionals, and service providers. Here are some of the key uses of GST software in India.
GST Software For Chartered Accountants :
Chartered accountants can use this software to manage client accounts, file returns, generate GST invoices, and for other accounting transactions.
GST Software For Small Businesses:
Small businesses can use the software to manage stock, generate input credit, create GST bills, and also for online GST billing.
GST Software For Professionals:
This software can be used by professionals to maintain their accounts, GST billing of the services, and file returns.
GST Software For Billing Departments:
GST has changed the billing pattern to large extent in billing department across the companies. GST software is used to generate GST compliant invoices.
GST Software For Retail Shop:
Retail shop can use GST software for billing, inventory management, accounting, and POS.
GST Software For Medicine Shop:
Medicine shops may require GST software for inventory, billing, and filing returns.
GST Software For Manufacturing:
Manufacturing industry may require GST software at multiple levels. From raw material acquisition to finished product supply, the application of GST software is found to be multi-fold.
GST Software For Tax Consultant:
GST software for tax consultant is used to manage client accounts, filing tax returns, and generating GST invoice as per the GST compliances.
GST Software For Jewellery Shop:
Jewellery shop can be stand alone or a chain of shops. The GST software would work as the single point solution for multiple shop billing, invoicing, and filing of returns.
GST Software For Tax Practitioner:
Tax practitioner would require this software to manage client accounts and their tax returns.
GST Software For Textile Industry:
Like all other manufacture industries, textile industry would also need GST software for billing and invoicing at multiple stages of manufacturing.
GST Software For Pharmacy:
Operations at pharmacy like inward and outward billing are taken care of by GST software. Other operations like filing returns, generating input credits, and creating GST invoice are also addressed by this software.
GST Software For Travel Agents:
Travel agents work on ticketing and booking that may have distinct GST compliance and the same would be regulated by dedicated GST software.