Balance Sheet, P/L Account Preparation and posting at Tax portal

Tally to Tax Filing Portal

Filing income tax return is a big task to retailers and SMEs/MSMEs. This causes to depend upon skilled tax filing professionals. Practitioners know rules and regulations of taxation and sections to be filed and finish filing process fast.

Filing income tax may be done with or without any software. Tax portal always allows valid values and follow the validations so if experts are unavailable with the help of Tally one can file himself/herself without missing of filing their return in non-audit cases below 1 Cr turnover and other conditions as mentioned in the portal.  

        While filing of return without books at the end of financial year using tally or any software it is very important to verify the values and tax to be paid will be shown in the portal.

These are items to be entered using tally before filing returns your return.

1. Let you confirm that your turnover is below 1 Cr or as per central Government portal instructions in time to time
2. Confirm the opening balances of ledgers.
3. Confirm the vouchers and pass values (lump sum value of entire financial year)
4. Check capital amount, bank balance, cash in hand, assets and liabilities, depreciation, sundry debtors, sundry debtors, fixed assets, inventories and other assets or liabilities.
5. Print reports of Balance Sheet, Profit and Loss Account.
6. Now login to the Government portal post the same. The values reported in portal

You can file yourself in Central Government Portal with original values of your business and pay without hesitating and save your time and effort if any variations found the CBDT will warns you at the time of filing or before processing. CBDT is right to reject or instruct to revise in case errors at expert filing also.