About Income Tax SoftwareWhats is income tax softwareHow income tax software help your businessFeatures of income tax software10 Most Popular Income Tax Software in IndiaThings consider beforenbspbuying Income Tax and TDS SoftwareBilling And Invoicing SoftwareAccounting Software For Small BusinessGST Accounting SoftwareWhat is Income Tax SoftwareIncome tax software is an application that assists at stages like income tax computation, ITR preparation, TDS and income tax e-filing. The process of using an income tax software is very simple and user-friendly due to minimum key operations and single window computations. Income tax software also helps with data entry and income tax calculation of taxes. Income tax software facilitates easy preparation and generation of ITR forms in paper returns and e-returns by automatically filling the values from your sheets to ITR forms. The income tax software further provides various online tools and features.Income Tax Software is a comprehensive solution for Indian tax compliance which automates the process of ITR preparation, TDS returns and online filing in bulk.ITR Preparation Software for AY 2019-20Here comes March, and ITR preparation software is going to be the best companion of start-ups, SMBs and big enterprises alike. But do you know the basic stapes to file ITR Let us help you with ITR preparation with these simple stepsCalculate your taxable incomeCollect TDS certificates for all the four quarters and calculate your TDS amountChoose your ITR form to fill ITR online or offlineGo to the income tax portal and download ITR utility formFill the details in the form and validate your detailsnbspAfter converting the file to XML format, submit it on the IT portalHow Income Tax Software Help Your BusinessThere are a lot of benefits of using income tax software. nbspBe it automation, increase in efficiency or accuracy, bulk filing or record management. Lets have a look at the benefits of an income tax softwareAutomation softwareAutomation is a major benefit of using income tax software. Income tax software reduces manual efforts as it can automate taxation formalities starting from tax calculation to tax filing. An income tax computation software will help you in your accounting process for calculating income tax, advance tax, wealth tax and TDS (Tax Deduction at Source).AccuracyManual calculations always have the risk of going inaccurate. The Income Tax Preparation software will assure you of accurate results that can be trusted for your income tax filing purpose. This reduces manual labor, saves time and reduces the chances of human error within your organization.E-filling of returnsA taxpayer, be it an individual or an organization, should follow a prescribed format in order to have undisputed accounts. The income tax return filing software will take care of all these pre-defined formalities after calculating the tax amount. Thus, you dont need to worry about any discrepancies.RecordsTaxation requires you to maintain records so that you can get the required details any time without requiring you to dig deep into the paperwork. An income tax filing software generates and stores the documents in easily accessible folders so that you can always find the details whenever required.Real-time trackingGet real-time tracking of all the processes related to income tax. You can control the complete workflow just by making a few clicks from your system with the best income tax software. You can view the real-time process status of every function with customized alerts, reducing hands-on time and enabling employees to focus on higher-priority tasks.Better efficiencyIncome tax computation software helps increase the efficiency of every process related to tax management in your company. You will be able to retrieve data, eliminate data that is not required, generate invoices, upload digital signatures and access archived data.Controlled workloadWith automated software, you can save yourself from redundant tasks and focus only on the processes that actually need your attention.You can focus on priority tasksYou can manage priority tasks by viewing the real-time process status and receiving customized alerts which help in reducing hands-on time.AffordabilityMost tax management software is affordable and has a variety of features that can be used for filing income tax returns and other functionalities.User-friendly featuresMost tax preparation software is easy-to-use and has an interface that can be managed by employees with limited technical expertise. There are demo training sessions available as well if you want to learn how you can make the most of an income tax software in detail.Features of Income Tax SoftwareOnline Income TaxThis is also acknowledged cloud-based income tax software and it will help to access a dashboard to track financial details anywhere and anytime.Complete ITR preparation softwareIncome tax software is a comprehensive application that is designed to automate the process of Income-tax return preparation and online filing.Bulk ITR filingWith a corporate income tax software, you can do bulk filing of Income Tax Returns and check the status of returns filed in bulk through e-return intermediary service.Tax meterA professional income tax software has the feature of tax meter which gives a quick glance of numbers under different income categories. You can also check the interest payable with the help of an income tax calculation software.Auto-calculations of taxesComputation of income and exceptions for all categories can be calculated automatically with income tax software.Auto-estimationEstimation of late payments, payment interests, late filing interest and the fee for delayed filing can be done automatically with the help of an income tax software.Audit reportA federal income tax software has an in-built audit report module that has an import facility of related details for e-filing. You can also auto-transfer data from computation and ITR, and carry forward the relevant data for future use.Reporting optionWith income tax software, you can generate various reports like computation report, the number of audit reports signed by the auditor, challan reports, MIS reports, etc.Data importYou can import data backup in bulk from various sources like excel, XML and other sources for income tax return filing all with the help of an income tax software.Tax details importTax details paid in previous financial years can be extracted with the income tax software. You can get details like TDS, 26QB, 26QC from form 26AS.E-filing toolsYou will get an e-return to submit a tool and an e-return error locator utility. With an income tax return filing software, you will also get to update your e-filing profile.Online toolsTools and utilities like e-challan, mass e-return processing status and adhaar-PAN linking can also be done with the help of income tax software. You can also download and import XML as well as other file formats from the IT website.E-servicesAn income tax filing software can guide you with e-payment, submission of payment details, message services, digitally signed e-invoice and auto-registration on formatting and surrendering license.Miscellaneous featuresIncome tax software includes features like billing, IT checker and tax planner. An income tax return software can provide a comparison of current years figures to any of the years in the past. You can also view the bank details like IFSC and BSR code.Digital signatureYou can upload your digital signature by using the digital signature utility feature for form 16 and form 16A.Integration with TRACESThe best income tax software provides the online services utility feature which are fully integrated with TRACES (TDS Reconciliation, Analysis and Correction Enabling System).Top 10 Income Tax Software For ITR Calculation, TDS andnbspReturn FillingChartered TaxPro TDS Professional Best income tax return filing software in IndiaCleartax income tax software at low pricenbspMonarch M-TDS (TDS Management)I-TAX Income Tax SoftwarenbspLegalRaasta - ITR SoftwareGEN Genius Income Tax SoftwareGen XBRLMonarch eAuditorSpectrum income tax software This provider offer free download trial version for a limited period.Follow Steps Before Buying Income Tax Software onlineFinding the best income tax software should be based on what your organization needs. Depending upon the type of features that you need, your choice of an income tax software will change. Along with the need, make sure you also follow the given points to make the right choice of plagiarism checkerKnow What You needWhile choosing an income tax software in India, you should know what kind of software do you want. If you are looking for an income tax return preparation software that has automated e-filling and a TDS module as well, you should look for specific options. If you want an income tax software with just the basic features, you can opt for the basic versions available.Ease of UseMost income tax software is easy to use, but make sure that you are able to understand and operate the software easily once its implemented within your system. Any software functionality that you cannot use conveniently will result in the wastage of both time and effort.Vendor Support SystemReliable vendor support is a must for you, just in case things go wrong. If you face any issue with the income tax software for tax preparers, you would need a vendor support executive to fix it. You should make sure that your vendor has a reliable after-sales service because delay in fixing the issue can take a major toll on your company.Income Tax Software DemoBefore buying an income tax software for pc, you should ask for an income tax software demo trial. Also make sure that you inquire the vendor about each and every feature. Income tax software demos are quite helpful, as you will be able to understand the software better and make a sound judgment before buying the software.Making the InvestmentMake an investment only when you are very sure that you want to opt for online income tax software. Income tax software price varies according to its features. If you are a beginner, you can always try your hands on the free income tax software available online. When you are sure that you want to go a step higher, only then make an investment of buying an advanced online income tax software. Before buying, always check the minimum system requirement. Also make sure that the software you are choosing is compatible with other plug-ins you might want to use.