35 ITR CHECKLIST -STEPS -CA HARSHIL SHETH

DOCUMENTS

1 Make sure to have all COPIES OF FOLLOWINGS DOCUMENTS & CHECK EVERYTHING in ONE GO to decide
the SCOPE OF WORK
1. Balance sheet , Profit Loss A/c , Capital A/c , Fixed Asset Ledgers , Indirect Incomes ledgers , If Partner in any Firm then
Partner's Capital A/c

2. 26AS + TIS +AIS

3. Salary Certificate, Agriculture Income Proofs , Bank statements , Interest certificate from SB Bank / FD/ Bonds / MIS /
Post etc.
4. If there is sale of shares/ MF, then ask Profit/loss report from Broker. Decide what is LT / ST & INTRA DAY

5. Details of Capital Gain from sale of any property/Gold/capital assets

6. For Audit case , Do check Capital Account from BOOKS because Audit report does not have all Information

7. All Investment proofs - ,L.I.C. & U.L.I.P. Premium paid receipts ,Mediclaim Receipt , Housing Loan Repayment
Certificate ,Donation receipts, ,School / College Tuition Fees receipts . (Only tuition fee & Not for any other activity)
,PPF Pass book duly filled up up to MARCH including Interest entry ,N.S.C, KVP . Purchased Proof ,contri to NPS proof

PRE-CHECKING
2 FOR NON PRESUMTIVE & NO AUDIT CASE , Check MIN 6% / 8% - Income from B&P after reducing IFOS
/CG / HP income - For any Business Assessee

3 IF PRESUMTIVE U/S 44AD/44ADA/44AE THEN - For eligibility of Presumptive check last year return. Also
check 5 year continuity Rule
4 If last year ITR filed having Business Losses , Then do check 143.1 of last year to confirm Loss Amount.
(Bifurcate loss into unabsorbed depreciation and Business loss if any)
5 In case of partnership firm , Do add All partners details PAN +AADHAR + PERCANTAGE in Partners details
IN PARTNER MASTER
6 MASTER update in SOFTWARE --> ADDRSS , PIN CODE , PHONE NUMBER , MOBILE NUMBER , WARD ,
EMAIL ID , AADHAAR NUMBER

ONLINE ACTIVITY
7 LOGIN & IMPORT 26AS txt file in software. ( We still yet to make all entries but I PREFER doing this first)

8 Open AIS TIS Remain Logged in , We will come back to AIS TIS in later steps

COMPUTATION in Business & Profession

9 start with Net profit in BP head - Add back all Disallowed expenses

10
Deduct all Income of HP/ SALARY / LTCG / STSCG / IFOS / EXEMPT / AGRI/ Partner check Codes to deduct
Codes (Partner Interest Salary - Not defined)
0 -Other Sources 1 -Exempted share of Profit from P.firm
Commission - Other source Partnership firm Profit - Exempted
Sb FD Post deposit Interest - Other Source 4 -Salary
3 -Other exempt Income Salary Pension Income
PPF interest - Exempt Income S -speculation Income
Agriculture- Exempt Income Speculative Gain - Speculative Busi.
5 -House Property 6 -Capital Gain
Rent Income - Income from HP STCG LTCG - Capital Gain
D - Dividend - Other source

11 Now , Add back same Income in other heads - HP/ SALARY / LTCG / STCG / IFOS / EXEMPT / AGRI/
Partner . whichever heads applicable ( Property sale , Sale of share transactions etc may not be in
BOOKS OF ACCOUNTS so identify and make entries in SOFTWARE)

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OTHER HEADS AND IMPORTANT ENTRIES IN SOFTWARE - THESE ARE REALLY IMPORTANT
12 DEDUCTIONS - 80C/80G/80D/80CCD/80U/80DD ETC

13 Audit special- Check Whole report thoroughly - Make sure check all clauses of 3CD FOR KNOWING ALL
DISALLOWANCE / REPORING AND DEDUCTIONS IN CASE OF Individuals
14 26AS + TIS + AIS SPECIAL - to check them thoroughly-Identify incomes which need to show over And
above what client has given - make sure All incomes are covered -

15 Code selection For TDS / TCS credit - We have to select proper code , If Income of 94A/94I/94J/94H is for
business then Select Business otherwise Other source

16 LT ST Gains (if any ) of shares if any - Check AIS TIS on Portal .. Download CSV file ... if there sale of
Shares then ask client about l LT ST sale of shares /MF and intraday trading profit.. For LT, import CSV file
in software. Cross check with client ‘s broker statements given. If client does not provide THEN you have
to use figures of AIS TIS.
17 BALANCE SHEET & PROFIT LOSS ( DO match Depreciation and Other incomes in PL must be in specific
head only )
18 ITR 4 SPECIAL (PRESUMTIVE WHEN NO BOOKS) -Four financial parameters - CASH + DRS + CRS + CASH
BALANCE. Compulsory need to write.. In case of Profession , Do enter , Receipts details

19 GST NO & GST Turnover

20 NATURE OF BUSINESS
CODE SELECT DESCRIPTION - TRADING IN THIS ITEMS NAME OF BUSINESS
21 BUISNESS & AUDIT INFO-
Nature of Activity METHOD OF ACCOUNTING RM/FG STOCK METHOD BOOKS 44AA YES

22 Audit special - BUSI. & AUDIT INFO - WRITE AUDITORS DETAILS & DATE OF TAR & FURNISH OF TAR DATE

23 Audit special- OTHER INFORMATION OF 3CD. IN CASE OF AUDIT IF ANYTHING DISALLOWED IN REPORT

24 If Shareholder / director in any Company then Write opening + closing of Unlisted shares details.
Compulsory
25 IMPORTANT POINTS

1. for Speculative Business , You have to Show in Normal then deduct from Normal and Then show in
Speculative Business
2. for STCG - LTCG , Do not show straight way Profit Loss , Make sure to write Sale Purchase amount and
then derive Profit Loss
3. Carried Forward Loss must be bifurcated between Business loss &UnabsorbedDeprecation

4. If 26AS is showing LIC maturity then write amount in Exempt Income if it is exempted, Otherwise in
Other source ( Chek whether TDS deducted)
COMPUTATION& TAX PAYABLE
26 Check STATEMENT OF INCOME and make sure all incomes are Properly Shown head wise. From AIS/TIS
& books. For all other incomes which is also reflected in AIS TIS , Makes sure Incomes in final
Computation must be EQUAL TO OR higher than AIS TIS figure

NOTE- Generate computation AS ON DATE , This is useful when Return prepared in last month and
upload in Next month due to challan payable .(If challan , then It will change Interest and if Refund , It
will reduce Refund)

27 CHECK Option for new Scheme - If there is any tax payable then do check OPTION as per NEW SCHEME

28 If Tax payable, Print challan. After payment of tax, enter challan details.

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AT TIME OF UPLOADING

29 Now NAME should match at allplaces - 1. Master 2. Online Profile 3. Verification screen when
uploading
30 If Refund, please write correct Bank account - SB. If last year refund failed then , make correction in bank
details

31 FOR 3 QUESTIONS - if TO 1 CR TO 10 CR =YES/NO + cash< 5%= NO + cash <5%= NO( as applicable)

32 after upload save COMPUTATION & ITR V AND make BILLS & RECEIPTS ENTRY

33. E-VERIFY
34. PRINT
35. FILE all documents in client file

THANKS
LET ME KNOW ANYTHING IMPORTANT is REQUIRED TO ADD
YOU CAN EMAIL ME ON CA.HARSHILSHETH@GMAIL.COM

FROM,
CA HARSHIL SHETH

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