Computation of Total Income

Shown below is the three parts of the worksheet named Computation. Of course you can give the worksheet any name that you want, but let us assume for the post that the name is "Computation".

The first part of the computation sheet contains the statutory details of the assessee, like the Assessment Year, Financial Year, Aadhaar Number and Name as per Aadhaar, PAN, Ward, sex of the assessee, date of birth, and so on. The second part of the computation begins with the sources of Income of the assessee, that is, a salaried employee will have only the salary income and at the max, interest earned in the bank account to be declared in the computation. In this case, the computation holds all the information that would be required to file the assessee' s ITR-1 format. Actually, this format was designed by yours truly keeping in mind ITR1/2/3/4/5/6. That covers the major bunch of returns to be filed for any assessment year.

The third and final part of the computation is about the calculation of income-tax after deducting the TDS (Tax Deducted at Source), Advance Tax (if any), Self Assessment (if any) and the interest etc. working upto the situation that either tax would have to be paid or a refund would be expected after filing of the income-tax return.

Cheers !!
CA Vikram Shankar Mathur
15-Apr-2022 | 21:09 Hours IST

We Need Your Feedback!

Please take my survey!

https://www.surveymonkey.com/r/SVRVM6V

Tax Audit Date Extended to 31-Oct-2019

Support-For-Development

Support My Development Efforts

Let's be very frank, everybody who starts out on the journey of Development, has begun  with a net balance of "ZERO" to his credit. But I am not onown as the DeadlyVBAProgrammer for nothing. I will not rest, until my last breat, or death do us part, my development efforts. I have registered myself as a WindowsInsider, MSOfficeInsider, Mozilla Development Network (MDN) Developer and have subscribed to a number of popular Forums available on the internet, so the chances of me failing are next to zero. I have an active MSOffice365 subscription, have a Sharepoint site in place and have done everything humanly possible to succeed.

So, if you can spare some moeny to support my efforts, use the fiollowing details to contribute as much as you can and would want to willingly, or not at all, depends on how you rtake my request.!!

CA Vikram Shankar Mathur

aka VBACoder1962 / vsmathurco / deadlyvbaprogrammer

Created on: September 1st, 2019 at 12:07 Hours IST

CIRC State Level Summit on GST - 18th & 19th Aug 2017

🌷 *CIRC State Level Summit on Goods & Services Tax (GST)*
🌹 Organised by: *CIRC of ICAI*
🥀 Hosted by: *Ghaziabad Branch of CIRC of ICAI*
**********************************

☘ _*Respected Members,*_

We are pleased to inform you Ghaziabad Branch of CIRC of ICAI is hosting the *CIRC State Level Summit on GST being organized by CIRC of ICAI on 18th & 19thAugust, 2017 at Ghaziabad.* The details of programme are as under:
-----------------------------------------------
               { *DAY -1* }
-----------------------------------------------

🗓 DAY & DATE : *Friday, 18th August, 2017*

🏢 VENUE : *Hotel Apple Tree, RDC, Raj Nagar, Ghaziabad*

🎆 _*PROGRAMME*_
👉 8:00 AM to 09:00 AM *Registration of Participants & Break Fast*

👉 9:00 AM to 11:00 AM Overview of GST
• Transitional Provisions
• Impact on service providers, traders, etc.
☘ by *CA Atul Gupta, CCM, ICAI*

👉 11:00 AM to 12:00 PM *INAUGURAL SESSION*

👉 12:00 PM to 01:30 PM
• Definition and Basic Concepts of GST
• Levy of GST, Composition Levy
• Time of supply
👉 01:30 PM to 02:00 PM
*Query session*
☘ by *CA Gaurav Gupta*

🍱 02:00 PM to 03:00 PM *LUNCH*

👉 03:00 PM to 04:30 PM
• Input Tax Credit (ITC) and ISD
👉 04:30 PM to 05:30 PM
• Query Session
☘ by *CA Bimal Jain*

☕ 05.30 PM Onwards *TEA*

-----------------------------------------------
               { *DAY -2* }
-----------------------------------------------

🗓 DAY & DATE : *Saturday, : 19thAugust, 2017*

☕ 08:30 AM to 09:30 AM *Break Fast*

👉 09:30 AM to 11:00 AM
• Place of Supply of goods incl. Import &
Export transactions
👉 11:00 AM to 11:30 AM
• Query Session
☘ by *CA Puneet Aggarwal*

👉 11:30 AM to 01:30 PM
• Valuation & Related Issues
👉 01:30 PM to 02:00 PM
• Query Session
☘ by *CA Shashank Gupta*

🍱 02:00 PM to 03:00 PM : *LUNCH*

👉 03:00 PM to 04:00 PM • Impact of GST on Industries with special
reference to Real estate & works contracts
☘ by *CA Kapil Vaish*

👉 04:00 PM to 05:00 PM • Registration, Refund, Returns & Invoice
☘ by *CA Manoj Goyal*

👉 05:00 PM to 05:30 PM • Query Session by CA Kapil Vaish, CA Manoj Goyal

☕05.30 PM Onwards : *TEA*

⏰ CPE HOURS : *12 HOURS*

💸 FEES :
*Rs. 1500/- Per Participant (for Members)*
Rs. 1800/- Per Participant (for Non-Members)

👉 Online link for Reg. :- http://icaigzb.org/myorder/?ui=mycart

💐 Regards:
*CA. Manoj Singh*
*Secretary ICAI Ghaziabad.*
*9310893870*

Is Facebook Biased Against Indians?

Check out these search results: https://twitter.com/search?q=facebook%20bias%20against%20India&s=09

Don’t Miss the chance to attend this conference on 11th & 12th August 2017

NATIONAL CONFERENCE METAMORPHOSIS - THE NEW TOMORROW DIGITAL & FORENSIC ON 11TH & 12TH AUGUST, 2

DeadlyVBAProgrammer

Deadly VBA Programmer

The Deadly VBA Programmer is a sobriquet that I gave myself some 10 years ago, on my advent into the world of Visual Basic For Applications Programming, precisely in 2006, and was solemnized with the creation of an email address "deadlyvba.programmer@gmail.com" and another one called "vba.programmer.2006@gmail.com" - since they were created almost simultaneously, they are remembered together too.

Years later, I first created a Facebook Group by the name "DeadlyVBAProgrammer" and recently renamed one of my Facebook Pages to "Deadly-VBA.Programmer" too !! Then I went and created a post at my website called "DeadlyVBAProgrammer" too!!

CA Vikram S. Mathur (SEO)
vikrammathurseo@gmail.com
+91-9998090111

06-Nov-2016 | 10:19 Hours IST | How 'Taxing' will the GST be?

Friday, September 5th, 2014 ,TOI, Ahmedabad, Page 15

The article is, hopefully, self-explanatory. Still, I would encourage readers to post their queries, if any on this forum, and I will definitely like to reply to all of them. Cheers !!

This Farce called Postponement of Tax Audit Report from 30-Sep-2014 to 30-Nov-2014

The credit for this #Infographic goes to KDK Software but despite so many requests and protests, there seems to be no end to this controversy which strongly reminds me of the controversy of whether the hen's egg came first or the hen's chick first came into this world.

Let me attempt to explain in laymen's terms, without going too deep into the technical language that we CA's generally tend to adopt. The Central Board of Direct Taxes (CBDT) released a circular stating that because of the 'complications' of the filling up of the newly introduced electronic Form 3CA / 3CB / 3CD, which essentially deal with the Tax Audit Report that is now required to be filled up and submitted electronically vide a software which has been introduced by them (I would like to say 'Thrust upon', but it would be too impolite to say that) to be used by Chartered Accountants prior to filing the income-tax returns of businessmen etc. who come under the scope envisaged by the Section 44AB / 44AD of the Income Tax Act, India.

The CBDT is, of course, empowered under the Income-Tax Act, to release any circular that deals with easing the duty cast upon the citizens of India for compliance with the various requirements of the Income-Tax Act and the Income Tax Rules framed in conjunction with it. So out came the circular purportedly to ease the burden on the Chartered Accountants duty of filling up properly and submitting electronically the Tax Audit report under the aforesaid provisions.

However, the controversy that arose was there was no mention of whether the date for filing the income-tax return had been extended or not to 30-Nov-2014, because that does not come under the scope of the powers given to the CBDT. However, the Income Tax Return cannot be filed without the Tax Audit Report Date being mentioned within it's framework as envisaged by the submission procedure wherein the said ITR has to be digitally signed by the assessee. So the situation as it stands today, upto the writing of this article is that you have to file the Income-Tax Return on 30-Spe-2014, with the report being dated 30-Nov-2014, and thereafter, submit the Tax Audit Report on 30-Nov-2014. What a farce that is going to be!!

Why the new date of 31-08-2012

Just when we chartered accountants were getting ready to wind up the current season of Income Tax Returns for the year ended 31/03/2012 for the clients who were not subject to Tax Audit (meaning those whose turnover / professional fees did not exceed the limits specified), and thanks largely to the power outages (of course, I do sympathise with the plight of the people who were stranded without power for days on end !! As well, a word of deepest sympathy for whom this was the cause of their death too !!)

In any case, the last date for all the aforesaid cases was 31/07/2012, which was then delayed to 31/08/2012 for the reason that many people who could not complete their accounting entries because there being no power available (in this day and age, it is very normal for most people to use computers and accounting softwares like Tally for accounting purposes). Even if the books of account were to be written by hand, it would require electricity, at least after the sun goes down.

So good for some people and bad for those who like to tie up loose ends before completing the season, who now have to compulsorily wait for that date, for there are always some clients who are, for some reason or the other, unable to complete their accounting work almost uptil the last date!!

So now you are updated about the reason why that date had to shift!!

Sayonara for now. Hope to come back to you with some more news soon !!