CompuTax 2019-20 :: update v 1.0 released

CompuTax 2019 update v 19.*.1.0  released.

Income-Tax

• ITR-1 physical Form as well as XML generation ready & released for uploading. 
• Salary module has been changed to accomodate more options as per the Dept's s/w. USERS are kindly requested to check and SAVE the SALARY module before generating S of I & XML
  
  
• USERS are kindly requested to NOTE that the LT-Gain fed & calculated in multiple entires will give wrong result in ITRs.  For Eg:  Feed the below entries, one entry at a time,  and see the ITR-2 page 5. You will be getting the results as shown in the 2^nd Table as per the format of ITR-2, point # B4 of Sch.CG under LT, which is presented correctly as per the given formula in ITR-2                                                              

  	Sale Consideration	Actual Cost	Cost as on 31/01/2018	Calculated Profit/Loss
  Case 1	10000	12000	3000	-2000
  Case 2	20000	2000	4000	16000
  Case 3	25000	5000	7000	18000
  Case 4	1000	6000	8000	-7000
  Case 5	5000	0	10000	-5000
  Total	61000	25000	32000	20000

  
  

  	4a	B2	B1	iB	iA	bi	bii	biii	biv (bi+bii+biii)	4c (4a – biv )
  Case 1	10000	10000	3000	3000	12000	12000	0	0	12000	-2000
  Case 2	20000	20000	4000	4000	4000	4000	0	0	4000	16000
  Case 3	25000	25000	7000	7000	7000	7000	0	0	7000	18000
  Case 4	1000	1000	8000	1000	8000	8000	0	0	8000	-7000
  Case 5	5000	5000	10000	5000	10000	10000	0	0	10000	-5000
  Total	61000	61000	32000	20000	41000	41000	0	0	41000	20000

  
  
  Now if you feed all the above ENTRIES together, you will find that the exact TOTAL values, as per the table,  in ITR-2, point # B4 of Sch.CG of LT Gain, but if you check the calculation according to the formula, you will find that the working is WRONG, ie. for column iB.
  
  
  Hence USERS are kindly requested to hold the uploading of the ITR for LT Gains till the correction is  done by the Dept. OR generate the XML from our s/w & import it in the Java utility & make the changes, which according to you is right & then generate the XML & upload it.
   

Important NOTES :

• PROCEDURE FOR INSTALLATION OF 2019-20  &  MIGRATION OF DATA FROM 2018-19  TO  2019-20 CAN BE VIEWED BY CLICKING THE LINK "Click here for instructions on Installation and Migration" GIVEN ON THE RIGHT SIDE UNDER THE TOPIC  "CompuTax 2019 Launched", MARKED IN YELLOW, OF THE MAIN PAGE OF OUR SITE "www.cubicsys.in"
   
• BEFORE STARTING MIGRATION, UPDATE 2018-19 WITH ver.12.6
   
• ALL THE VERSION RELEASE INFORMATIONS CAN ALWAYS BE VIEWED BY CLICKING THE LINK "Click here for Release Informations.", GIVEN ON THE RIGHT SIDE, MARKED IN YELLOW, OF OUR SITE "www.cubicsys.in"

PLEASE READ HELP FILE (2019-20 Help), especially NEW USERS, given in "Cubic Systems Apps --> CompuTax 2019-20" for almost every Queries.

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For support kindly contact : Mr.Chirag Gandhi (94260 77832)

                                               : Mr.Ketul Mehta     (99796 06426)

eMail :  Chirag Gandhi : chirag.gandhi@cubicsys.in

                                           : gopakumar@cubicsys.in
.