This report can be generated from KITRET on the basis of entered informations regarding Income form various Sources, deductions claimed and taxes paid by the Assessee. This report can be viwed on the Monitor Screen or Printed on Printer. The Printing can be done either on Cut-Sheet Paper or Continuos Stationary. 

• View on Monitor Screen

• Print on Single-Sheets / Continuos Stationary.

The Format of Computation can be set as per the user's requirement by setting certain parameters.

A  RETURN FORMS  ITR-1  to   ITR-8

The Income-Tax Return Forms ITR-1  to  ITR-8   can be viewed on Monitor Screen and printed either on plain Paper or on the pre-printed Forms. 

• View on Monitor Screen
• Print on Plain Paper: Single-Sheets / Continuous Stationary / Even-odd Pages.

A  INCOME TAX CHALLANS 280, 281, 282, and 283

The Income Tax Challans 280, 281, 282 and 283 can be printed on the Pre-Printed Challans or Plain Paper.

• Print on Pre-printed Return Forms of Keypro Forms.
• Print on Plain Paper: Single-Sheets / Continuous Stationary.

 The setting of the Items on the Pre-printed Challans can be changed by the  user himself as per the requirement.

The Pre-printed Challans 280, 281 and 283 are provided by us. These challans are specially designed by us for the use with the KITRET software package. With these challans, you will get the advantage of printing on Computer's Continuous Stationary.

A  OTHER REPORTS

• Various A/c Statements Like Capital A/c, Balance Sheet, P & L a/c etc.

• Separate Statements of long-term and Short-term Capital Gains, if required.

• List of Dividends received, Interest recceived on separate pages, if  required.

• Various  Forms like:

  Form 49-A  - Application for for Permanent Account No.

  49-B  -  Application for TDS Account No.

  30     -   For claim of Refund

  16     -   TDS Certificate for Salaried People

  16A  -   TDS Certificate for TDS u/s 203 on interest, dividends, contract receipts etc.

• Income tax Registers - Return Filed, Returns Not -Filed and Refund Tax Register.

• Master List of Assessees, Partners of Firm, Members of AOP/BOI, Group, Ward / Circle, Area-wise Ward/Circle,  Depreciation Blocks etc.

• Telephone Diary of the Assessees.

• List of Assessee falls in a particular ward / Circle.

• Assessee List having same Due Date of Return Filing.

• Depreciation Chart- Horizontal / Vertical.

• Advance Tax Paid Register

• Interest Calculations Reports u/s 244-A on Refunds.

• Power of Attorney / Vakalatnama.

• Assessee's List whose PA Number, Birth Date, TDS Number are entered and not entered in the Master.

A  ADVANCE TAX CALCULATIONS  &  REPORTS  FOR NEXT ASSESSMENT YEAR

The advance tax calculations are made in three different ways in the KITRET software package. These are as under :-

1. Provisional Tax Calculations for the advance tax purpose can be done for the Assessment Year next to the Current Assessment Year on the basis of Estimated Income Details from various sources and calculating allowable deductions and taxes as per the finance bill presented/passed by the parliament for that Assessment Year. 
   • This calculation is the most accurate calculation as the actual figures are fed in the package regarding the Assessee's Income and deductions claimed and the tax calculations and deductions limit are applied as per the finance bill presented/passed by the parliament.
2. Advance tax can be calculated for any Assessment year on the basis of Net Estimated Income from various sources.
   • In this case, the tax calculations and deductions limit are based on the finance bill presented/passed by the parliament but the Income figures of the Assessee are Net Figures. So, one need to do manual calculations for Income of each sources. Thus, calculations in this method will be less accurate than first method described above.
3. Advance tax Installment List for the next year can be viewed or printed, calculated on the basis of Tax paid by the Assessee for the current Assessment year or prior two assessment years.
   • This list is least accurate, as the Advance tax calculation is based on the tax paid in previous years. So, any changes in the Income of Assessee or the changes in tax rules in the next year will not be reflected in the calculation of advance tax for the next year.

However, depending upon the time and situation of the user, they can go for any one of these methods of calculation of Advance Tax for the Next Assessment year.