Thursday, 24 May 2012

e-Filing XML structures repeatedly modified by the Department

We regret that we have not given updates for e-Filing of ITR-2, ITR-3, ITR-4 and ITR-4S. This, unfortunately, is due to the repeatedly changing XML definitions as provided by the e-Filing Department of the Income Tax Department.

Following are the links to the various XML definitions that Cubic Systems has so far gathered: (the filenames also indicate the dates)

XML of April 20, 2012
XML of May 7, 2012
XML of May 10, 2012
XML of May 23, 2012 (the version now available for download from the e-Filing site)

In the 4 versions released within a duration of approximately one month, there have been significant changes across the definitions. Definitions of some elements were not appropriate in the earlier versions, which the department has been correcting with the succeeding versions. For instance,
  • The Co-ownership details of House Property in XML were not correct with respect to that of the ITR print formats.
    • New "Counter" element has been introduced in the latest version
  • New elements were added for Long Term Capital Gains (Deemed-Long-Term @ 10% and Deemed-Long-Term @ 20%). There was no appropriate information given with respect to these elements, and neither do these elements map to any information in the ITR Print formats. These have now been dropped in the latest version.
  • Definition of elements for Foreign Assets have been modified with almost every version. Further, the department has still not given the complete list of Country Names and Codes (even with the latest version).
  • Schedule for Tax Relief was corrected in the second version
  • New elements / structures were defined for Tax Refund for ITR-2, ITR-3, and ITR-4. However, with the latest version, the new structures have been dropped and the definitions of the old Refund elements has been restored.
  • Deduction u/s 80 ID has been introduced for Individual returns since the latest version.
  • Schedule of Unabsorbed Depreciation has been modified with the latest version.
Since Cubic Systems were not convinced with the correctness of the structures in the earlier versions of the XML definitions, we were reluctant to provide the updates. e-Returns filed during the course of this time would have been error-prone and led to the problems of Rectification of Returns.

Those who prepare the e-Returns using the Excel Utility given by the department, have no choice but to re-input the data in the new Excel files, which are also correspondingly modified. Thankfully, since you use CompuTax, you don't have to feed any data again, but may only have to re-compute some annexures by "Saving" them again.

Cubic Systems is currently analysing the new structures and implementing the changes.  We assure that the updates will be released as soon as we can say with complete confidence that the new definitions do not contain any anomalies.

Please be patient. We are trying to minimise the problems for yourselves as well as us.

Regards,
Cubic Systems Team.

Wednesday, 16 May 2012

CompuTax 2012 :: Update v4.1


ITR 1 :: XML e-Filing activated

Due to the changes in XML structure made by the Income Tax e-Filing Department, it is recommended that you "SAVE" the annexure "Deductions under Chapter VIA" before proceeding with Statement of Income and ITR, specially if there are donations u/s 80G.
 

Thursday, 3 May 2012

CompuTax 2012 v3.2

CompuTax 2012 v3.2

  • ITR 4 (in Paper format) added.

CompuTax 2012 v3.1


Following features and enhancements:
  • Income Tax
    • Masters
      • New Return Filing Section added
    • Annexures
      • Data Entry for House Property Co-ownership
      • Data Entry for Relief u/s 90 and 91
      • Data Entry for Donation as per new format
      • Data Entry for Non-Salary TDS additional details (Unique Certificate # and Deduction Year)
    • Returns
      • ITR 2 and 3 (in Paper Format)

Tuesday, 17 April 2012

CompuTax 2012 :: Update v2.0

CompuTax 2012 v2.0
  • Income Tax
    • ITR-1 and ITR-4S as per new formats
      • (ITR 2,3,4 coming soon)
    • Increased the length of Return Receipt Number of field 
    •  Added new Return Filing Section
  • e-TDS
    • Form 16 for 24Q-Q4 now prints details of all quarters
    • Correction in print Receipt Number / Token Number in Form 16

CompuTax 2011-12 v21.5
  • Income Tax
    • Increased the length of Return Receipt Number of field
  • e-TDS
    • Form 16 for 24Q-Q4 now prints details of all quarters
    • Correction in print Receipt Number / Token Number in Form 16

Monday, 2 April 2012

CompuTax 2012 :: Update v1.3

CompuTax 2012 v1.3
  • Income Tax
    • Advance Tax Rates as per Budget 2012
  • Migration
    • Correction in FA migration (relevant only for those using FA module)
CompuTax 2011 v21.4
  • e-TDS
    • Minor correction in saving Bill-Payment data for e-TDS (where there is no challan information)
Users who have already migrated, but have not changed any data (or have changed only a little data) can update CompuTax 2012 and 2011 and migrate again. Else, you may "pick" individual clients from CompuTax 2012 and choose only FA (unselect all other options) to get FA details.

Tuesday, 20 March 2012

CompuTax 2012 :: Update v1.2

CompuTax 2012 v1.2
  • e-TDS FVU v3.4 implemented

CompuTax 2011 v21.3
  • e-TDS FVU v3.4 implemented

Tuesday, 6 March 2012

CompuTax 2012 Launched

Instructions for Updations:
For instructions on Installation and Migration of CompuTax 2012, refer to:
http://support1112.cubicsys.in/home/chapters/computax-2012

Changes in new Versions:
  • CompuTax 2012-13 # 1.1
    • Income Tax
      • New Income Tax slabs
        • Senior Citizen age changed to 60
        • Very Senior Citizen slab introduced
      • Alternative Minimum Tax for LLP u/s 115JC
      • Business & Profession: Section 35 (2AA) benefit changed to 200%
      • Pension u/s 80CCD changed for Employer's contribution
    • e-TDS
      • support for FVU 3.3 for Financial Year 2010-11 onwards (FY2010-11 to FY2012-13)
  • CompuTax 2011-12 # 21.2
    • Changes to enable Migration with CompuTax 2012-13
      • Other House Property included in Migration
      • NSC Accrued Interest details included in Migration
      • XBRL Current Year information included in Migration
      • Wealth Tax included in Migration
  • CompuTax 2010-11 # 35.7
    • PAN of Minor/Spouse stored when clubbing income
    • Share in Profit of Firms Negative Value handled.