The working that goes into the ITR, done.
26AS and AIS matched with the books. Capital gains worked from the client’s broker and mutual fund statements. The computation under the old and new regime side by side. Advance tax by instalment. You key the figures into the return.
Free trial: 2 days or 10 statements, no card. Greenote prepares the working. It does not file the return.
What ITR prep covers in Greenote
1. 26AS and AIS, matched with the books
Open the client’s Form 26AS (the TRACES text file, its ZIP or the PDF) or the AIS as a PDF. Greenote reads it and sets it against the books deductor by deductor: the income and TDS each deductor reported, and TDS booked in the books that is not in the statement. The credit you claim in the ITR is then a credit that is there.
2. Capital gains from broker and mutual fund statements
Drop in the Zerodha, Groww, CAMS or KFintech files for the year, with the consolidated account statement and some other brokers’ reports. Every sale is matched to its purchases first in, first out. Shares bought before 1 February 2018 take the grandfathered cost, and each sale is split into short term and long term. Gains are worked at the rates from 23 July 2024, with the Rs 1.25 lakh exemption under section 112A shown. The totals come out as Schedule CG needs them, with the arithmetic beside each. Where Greenote cannot be sure of a sale, it says why and keeps it out of the totals.
3. The computation sheet
All the heads of income, the losses set off, the deductions claimed and the total income, with the tax under the old regime and the new regime side by side. Presumptive income under 44AD, 44ADA and 44AE is folded in, and interest under sections 234B and 234C is worked. Interest on savings and deposits is picked out of the client’s bank statements already in Greenote, capital gains come from the working above and TDS from the 26AS check, so the sheet starts filled in.
4. Advance tax
The four instalments with their due dates, what the client has already paid (read from their bank statements) and what is still short, so on 10 March you know which clients owe the last instalment and how much.
5. Notices register
Income tax and GST notices, such as 143(1) adjustments, 139(9) defective return and 142(1), kept per client with their reply dates. Read the notice in and the office is warned before the date passes.
One part feeds the next
The capital gains working and the 26AS check feed the computation sheet, and the computation sheet feeds advance tax. Nothing is typed twice. A figure that is missing is named on the sheet, never counted as nil. None of it needs Tally open, because an individual client usually has no books in Tally.
Questions about ITR working
Does Greenote file the income tax return?
No. Greenote does the working that goes into the return: the 26AS and AIS check, the capital gains, the computation of income under both regimes and the advance tax. You key those figures into your filing software or the income tax portal.
Which broker and mutual fund statements does it read for capital gains?
Zerodha, Groww, CAMS and KFintech files, the consolidated account statement, and some other brokers’ reports. A transactions sheet covers anything a file does not carry.
Does it handle grandfathering at 31 January 2018?
Yes. For listed equity and equity funds bought before 1 February 2018, the cost is the higher of the actual cost and the lower of the 31 January 2018 value and the sale value. If the file does not carry that value, you type it once for the holding.
Does it use the rates after the July 2024 change?
Yes. Gains are worked at the rates in force from 23 July 2024, and the Rs 1.25 lakh exemption under section 112A is shown against the long term gains.
Which form of 26AS and AIS can I use?
The Form 26AS text file from TRACES (or its ZIP), the Form 26AS PDF, or the AIS as a PDF. A file that needs a password is opened with the one you type, and the password is not kept.
Does the computation sheet compare the old and new regime?
Yes. Both are worked side by side from the same figures, with the lower tax marked, and the working paper exports to Excel.
Which plans have the ITR working?
The Tax and Audit plan and the All-in-One plan. The notices register is in All-in-One. See the pricing page for the plans.