Both regimes computed and the AIS checked.
Xegality reads Form 16, capital-gains statements, interest certificates and deduction proofs into the client's return, computes the tax under both regimes, checks it against AIS and 26AS and suggests the ITR form.
| Line | Old regime | New regime |
|---|---|---|
| Taxable income | ₹15,82,000 | ₹17,67,000 |
| Tax with cess | ₹2,98,584 | ₹1,59,536 |
| TDS (26AS) | ₹1,62,000 | ₹1,62,000 |
| Suggested | Lower |
What you can do with Income tax returns.
Documents read in
Form 16, capital-gains statements, interest and home-loan certificates and 80C, 80D and 80G proofs go into their sections; manual entries are never overwritten.
Both regimes
Salary, house property, business, capital gains and other sources, computed under the old and new regimes, with the lower liability suggested.
AIS, TIS and 26AS
Each category of the AIS is compared with the return, and the TDS in 26AS with what is claimed.
The ITR form
ITR-1, 2, 3 or 4 suggested from what the return contains and the year's rules.
Computation on your letterhead
A computation PDF and Excel with both regimes and every line with its section, printed on the practice letterhead.
15CA / 15CB working
Foreign remittances analysed for chargeability and rate, with a treaty rate used only when the documents and the quoted treaty text support it.
Every AIS line accounted for.
Before a return goes for approval, Xegality compares it with the AIS and TIS by category, such as salary, interest, dividends, securities sold, property and business receipts, and flags differences above a small tolerance, so the return and the department's data tell the same story.
- Interest income₹4,120 in AIS, not in the returnCheck
- DividendsMatches the returnOK
- Sale of securitiesCapital-gains statement readOK
- TDS on salary26AS matches Form 16OK
How Income tax returns works.
- 1.
Collect the documents
Ask for them through a document request, or drop them into the client's Income Tax folder for the year.
- 2.
Compute and check
Xegality fills the sections, computes both regimes and checks the return against the AIS and 26AS.
- 3.
Approve and file
A member with the right approves the computation. You file on the e-filing portal and mark it filed with the acknowledgement.
Xegality prepares and checks the work, and a member of your practice reviews and approves it before anything reaches a client. Returns and forms are filed by you on the government portals: Xegality is not a GSP or ERI and never asks for your clients' portal passwords.
Works with
- Form 16
- Capital-gains statements
- Interest certificates
- Deduction proofs
- AIS / TIS
- 26AS
Income tax returns, explained.
Still curious? Talk to our team.
Does it make the ITR JSON for the e-filing utility?
Which years and Acts are covered?
Who decides the regime?
Are business returns covered?
Income tax returns shares its work with the rest of Xegality.
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