Zen spectrum tax e-filing software

Vishal (Student) (154 Points)

09 April 2014

A complete office automation tool for chartered accountant.

Income Tax Auditor’s Edition

Statutory Compliance

Generation of Physical ITR Forms (ITR 1 to ITR 7)

Generation of XML File ITR Forms (ITR 1 to ITR 6) according to the Schema provided by the Income Tax Department
Generation of Form 49A (New and Correction)
Generation of Return Form BA (Wealth Tax)
Computation of Total Income and Tax There on keeping in view of tax provisions

Computation of Income and Tax

Computation for Foreign Company, Non Resident has been provided with detailed Provisions.
MAT - Auto calculation of MAT and preparation of form 29B.
Automatic calculation of Relief u/s 89 (1) and preparation of form 10E.
Auto and Manual Setting of sequence for Adjustment of current year losses and Unabsorbed depreciation
Comparative summary of current year and previous year computation at a glance
Advance Tax Calculator
Automatic as well as manual calculation of interest u/s 234A,234B,& 234C

Final Account: User can maintain data for single or multiple businesses through these financial statements

Balance Sheet, Trading Account, Profit and loss account, Profit & Loss Appropriation Account, Capital Account, Receipt and Payment Account, Statement of Affairs, Personal Capital Account, Annexure Builder

Online Activity

Direct E Filing facility has been provided with in the software. User can directly upload the X M L file on the income tax department site through software. Further a facility of “Change password” and “Create user” has been provided with in the software. User need not to log on the department site manually.
Online e-Payment of Tax Challans through software directly, no requirement to fill master information.
Online import of TDS entries from Income Tax website.
Online filling of information for form 49A (New and Correction) and generation of physical form 49A (New and Correction)
Online filing of rectification under section 154
Remove PDF Password of acknowledgement of filed ITR
Saving of ITR V generated after E-filing of return (not digitally signed) (to be sent to CPC Bangalore)

Additional Features

Import from Excel – TDS Entries, Client master, Balance sheet, Profit and loss account, Quantitative Detail,

Import of TDS Entries From Form 26AS

Other - Provided facility of Quick Access (ITR wise data entry), Generation of Form 15G/15H, Password Protection (Locking option), Label/ Letter Head Printing, Consultant Information, Quantitative Detail, Client-wise backup and restore facility, Wide Collection BSR Code/ MICR/ Bank/IFSC, Can add notes to Computation, Zen Reminder Pad/ Report, Custom/ Complete Back- Up and Restore, PAN Search

MIS Reports: These reports are collection of useful information in various different format is automatic prepared on the basis of input provided or output generated

Auditors Detail in Tax Audit Information, Refund Cases, Revised Return List, Advance Tax Register, Advance Tax Estimation Register, Total Income Report, List of Holding / subsidiary Company, MIS of Business Nature, List of Assessee for Return to be prepared, Pending Returns, Filed Return, Pending ITR V, without PAN , Detail of KVP, NSC and Investment, Tax Deposited List, Due Dates for each and every clients, List of Key Persons, List of Beneficiaries, List of Trustee, List of Partners, List of Representative, Birth Day Reminder, Due Date Chart, Power of attorney

Zen IT also compiled with various software

Wealth Tax

Computation of Wealth.
Preparation of Return in Form BA.
Interest calculation on late filing of Return.

Facility to generate bills, receipts and bill cum receipts
Pending fee list and pending bill list
Client ledger and outstanding report

Balance Sheet

Reduces time: A pre-defined group master is given to facilitate the selection of group at the time of preparation of Trial Balance.
Trial Balance:

a.Can be imported through Tally or excel.

b.Can be exported to excel

c.Can Merge trial Balances

d.Update Trial balance Through Journal Entries

e.Can be viewed Group wise or Account wise.

Multiple Trading Account: Through this feature, the client can prepare various trading Accounts for different Products.
Transfer Accounts: This is the facility to transfer the accounts from one head to another.
Complete set of Financial Statements: The complete set of financial statements like Cash Flow, Trading Account, Profit & Loss account, Balance Sheet, Schedules, and Notes to Accounts can be prepared just by providing input in Trial Balance.
Depreciation Chart:

Depreciation chart is prepared both in accordance with the Companies Act and Income Tax Act.
Depreciation chart is prepared using WDV method and Straight Line Method.
Depreciation is also calculated on Pro-rata as well as actual basis.
The calculation of the depreciation is also given.

Import: Import from other software like Tally and Busy and from MS-excel is also provided to help them in saving time.
Export: Facility to export reports in excel and word is also provided
Helps the company: It facilitates the directors by providing pre-designed notice and Director’s report as well as certificates.
Helps the Auditors:

a.Company Auditor: It helps the company auditor by providing him with a complete set of Auditor’s Report, CARO (Companies Auditors Report Order) Cash Flow, Balance Sheet, Schedules, Balance Sheet Abstract, and notes to Accounts

b.Tax Auditor: It helps the tax auditor by providing him with the pre-filled Form 3CA/3CB, Form 3CD, Annexure I to 3CD and other annexures. It also generates Form 56F and Form 56G for Special Economic Zones (SEZ), Export Oriented Undertaking’s (EOU), FTZ’s etc.

Statutory Compliances: It helps in meeting the compliances prescribed by Statute e.g. preparation of balance sheet in accordance with Schedule VI, Balance Sheet abstract etc.
Significant Accounting policies: It contains significant accounting policies with pre-defined policies and their details with a facility to create the suggestion as per requirement.
Accounting Standards: It provides a complete set of updated Accounting Standards issued by ICAI.
Automatic preparation of various documents: It provides the automatic preparation of various documents such as Engagement Letter, Representation letter, various certificates require by the law. Moreover it prepares lists and formats also.
Forms of Balance Sheet: It provides two ways of preparing Balance sheet and Profit & Loss Account (a) Horizontal, and (b) Vertical.
Blank Forms: Various blank forms such as 3CA, 3CB, 3CD, Annexure I, various certificates, CARO, Auditor’s report etc. are also provided.
MIS Reports: Various informative reports such as Pending Tax audit, Pending Company Audit Tax Audit Done, Company Audit done, to be prepared etc. can be derived.
Other useful reports: It also helps in preparing other reports such as Bank reconciliation statement, Fund Flow, Cash Flow , calculation of Deferred tax Asset/Liability etc.
General notes: Facility to type general notes is also given.

eTDS Professional

Generation of Form 49B/ Correction 49B
Generation of Quarterly Regular return for the form No. 24Q, 26Q, 27Q and 27EQ
Generation of quarterly correction return for the form No. 24Q, 26Q, 27Q and 27EQ
Generation of Form 24G
Generation of digitally signed Form No. 16, 12BA, 16A and 27D

Features: - Features which will reduce the time for the cross verification and finding the error in the data entered by the user

Export And Import

Import of Deductee entry and Challan entry from excel
Import of Deductee master and employee master from excel
Import from Text/ FVU / TDS File
Import from Text file generated by the banking software like finacle
Export of data into predefined excel format
Compatibility of the grid with the excel and word

Deductee Entry

Auto picking of the rate according to the date of payment, status of the Deductee, Nature of payment
Auto calculation of TDS according to the selected rate
Prompt for the wrong date of deduction if entered by the user

Salary Detail

Detailed salary computation: The computation of salary is given in detail, also other income (like House property and any other income) reported by employees is considered for TDS calculation

Challan Entry

Generation of Challan with the mapping of Deductee entry i.e. user can enter the Deductee entry and by selecting the Deductee entry Challan can be generated
Online verification of the Challan
E Payment of Challan - No need to fill the master information at the site, TDS software will automatically fill the master information

MIS Reports

Generation of the status of returns pending returns, Filed Returns
Detail of unadjusted entries in the deductor
Deductor Master Report
Deductee master / Employee master report
Delay in the deposit of TDS along with the interest calculation
Salary – Monthly TDS Deducted report
Salary – Monthly TDS to be Deducted report after considering TDS Already deducted
Salary – Display Computation of Total income and tax calculation thereon
Challan Status Report, Challan Detail, Deductee wise Challan report
Salary Summary – Annual Gross (Display the Gross Amount and Exempted Amount separately), Annual Net (Display the Final Taxable amount) and Monthly salary Summary (Display the Monthly salary paid)

E Filing of Return

Auto downloads of CSI File from the NSDL Site
Error locator-E file error locator redirects you to the point of initiation of error
Auto Generation of Form No. 27A with control totals

Other Features

Online TAN Registration
Reminder Pad – Prompt when Deductor is select for the working
Wrong PAN Report
Invalid Date of Payment /Date of deduction report
File Viewer - Facility to view the FVU files as per the format prescribed by the NSDL

Future Prospectus

Email facility – TDS Certificate digitally signed
SMS Facility

Service Tax

S. No.	Features
1	Preparation of Form ST-1, 3, 3A, 4, 5, 6, 7.
2	Preparation of Form ASTR-1, ASTR-2 & AAR.
3	Report of Pending or Filled ST-3 Return. Day wise Interest Calculation on delay Challan.
4	Online ePayment of Tax Challans through software directly, no requirement to fill master information.
5	E-Filling of ST-3.
6	Preparation of Additional Information which is valid (required) to be submitted with Service Tax Return.
7	Takes into account the effect of abatements.

Document Manager

Zen Doc Manager is Ideal for tax practitioner offices. It reinforces capacity for managing all types of documents in a single repository. Zen Doc Manager ensures appropriate classification is applied and document storage.

Enable Client wise documents management for easy listing, storing
Classification of Documents on the basis of subject, financial year
Creates Centralized storage of documents
Quick addition of document, modification possible
Facility to tag documents
Smooth Searching of documents and retrieval, supported for different criteria

Project Report / CMA

Preparation of project report.
Facility to enter complete quantitative details and auto calculation of various figures at the option of the user.
Preparation of CMA Data & Calculation of MPBF as per Tendon and Nayar Committee.
Preparation of Cash Flow & Fund Flow statement.
Auto Interest calculation, EMI calculations, rate of interest calculation, present value & maturity value calculations.
Facility of preparation of multiple repayment schedules of the term loan.
Auto preparation of depreciation chart and term loan interest for estimated and projected years.

Form Manager

Facility of Automatic Picking of Master Data in Forms (It works like Mail Merge Facility of MS Word).
Facility to accommodate user defined forms.
About 1000 Forms including
Affidavits, Bonds, Agreements
Arbitration
Company Law
Compromise and Settlements
Foreign Collaboration
Gift, Hire Purchase
Income Tax
Indemnity
Lease and License, Mortgage and Pledge
Notices
FEMA
Partition, Partnership Deed
Power of Attorney
Sale Deed
Service Tax, Wealth Tax, Central Excise
Income Tax Circulars and Notification (Approx. 9000).