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I-T blues? Take the help of Tax 2000
R Sreekumar
Thiruvananthapuram, May 24: Come June, both the employers and employees are a worried lot. Lot of forms have to be filled for filing income tax returns which is quite a laborious process as any one who has done it will admit. Long queues before the income tax office is also a regular feature on June 30 as many people defer filing returns till the last date. However, a software division of a firm of chartered accountants in Thiruvananthapuram, Neelakantan and Co, have devised a new software package christened Tax 2000 which solves the problems connected with the preparation and filing of income tax returns for the salaried class. The software has been developed on the Microsoft Excel platform. The software is customised for each office, considering the various heads under which the salaries are paid such as basic salary, dearness allowance, house rent etc. The deductions are also customised to suit the requirements of different organisations, according to R Neelakantan, chartered accountant.All employees would be happy to receive arrears of salaries. But when it is received, unless the claim for IT rebate under the relevant section of the Income-Tax Act is made and in the proper format, the employees will end up paying more tax than what is required under the law. For want of in-house expertise, many employers too do not calculate the rebate under the relevant section. Tax 2000 takes care of such problems too. This assumes significance since many government employees have received large amounts as arrears of salary during 1999-2000 fiscal. The software generates all the required forms with the correct figures that are to be claimed. Further, on installing the software in the office, the employer is also relieved of the hassle of preparing without any e mistake, the Form 16, that is to be given to each employee. The employee also gets `Saral' form properly filled up and what remains to be added is only the signature. All the relevant data pertaining to the employee's salary can be fed into the computer and this will be suitably placed in the electronic forms generated by the computer. Printouts of these forms can then be submitted to the IT office. The most attractive part of the ware is the price tag. It has been priced nominally at Rs 1000 for an office with 10 employees and slightly higher if the employees are more. However, the cost per employee would be as low as Rs 100. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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