Presentation on COMPUTDS

PRESENTED BY:-

GAUTAM BATSYAS(24/D/2009)
KAUSHIK
BARMAN(25/D/2009)
GAURI SAHU(23/D/2009)
FARHANA AHMED(22/D/2009)
 INTRODUCTION

Computds is a software used by the “Chartered

accountants” for the income tax purpose.Computds
relates with “Tax Deducted at Source (T.D.S.)”.
The C.A. at first used to store and do the work of T.D.S.
Manually but with the advance of technology and
software system, a new software system has being
developed called “computds”. In computds the record of
data of T.D.S. are stored.
 OBJECTIVE OF COMPUTDS
With the change of letter system to e-mailing there is also a change on
payment of T.D.S. amount through e-tds) i.e. payment of T.D.S. through
internet in a bank with respective code. On payment of T.D.S. by the party the
Income Tax department will sent a challan to the C.A.. The C.A. will make a
duplicate copy of the challan and will handover one copy to the respective
client and will keep the other copy with him to operate in computds.
Computds is used to mobilize the tax deduction at source process of keeping
records. It relates to storing data for filling tax return for the purpose of Income
Tax.
 Salaried and non salaried persons:-

Salaried persons are those individuals who are under the

pay roll of any government or corporate office. Generally
the tax payable by these persons are deducted at the
payment of salary.
Non salaried persons are those persons who are
businessman or landlord etc. Basically they have to
consult a C.A. to pay there tax.
 HOW THE COMPUTDS WORKS:-

The TDS is paid in four quarters which is itself divided as 1 st

period, 2nd period, 3rd period and 4th period by the system. On the
1st period if we click in the system then we can put the whole
amount of TDS as per the date and challan no. and going through
the details of a particular employee and recording their TDS
amount it will be adjusted on a particular screen of the employee
in the system with the option of book entry of the TDS of the
particular employee.
The working of the software is elaborately discussed below :-
On opening of the software a screen will be displayed which will
consist of name of the parties, salaried non
 salaried options.
If we choose the salaried option then we should clearly
state the name, address and the pan card no.. On
putting the TDS amount and all the related information
we can exit from the updated screen.
And then we have to go to the challan screen. The check
can be done if we go through the validation check. If we
go through the validation check and an error is
recognized then the software will show on which
particular statement the adjustment is wrong or whether
any information is not available. If all the information are
correctly given then the software will allow us to take a
print out of the validation period.
Basically Form 16(a) is prepared on that basis and it
should be sent to the income tax department for its
approval so as to show that TDS is prepared for a
particular period.
 On the other hand in case of non salaried we have to
select the particular option then the party name and the
respected period and then we have to fill the challan
screen with the challan no. and the date. For the non
salaried individuals there are different groups in which
the TDS is paid like rent, advertisement etc. which
consist of different sections of the Income Tax Act. The
section much be selected in the challan screen. After
that we have to put the address, pan no., pin code and
the amount of TDS paid against the respective challan.
Then we can go through the adjustments against the
particular challan till the balance is indicating zero.
 IMPORTANCE OF THIS SOFTWARE:-

 This software facilitates to prepare e-tds and form

no.27(A)
 It helps to check the validation of NSDL.
 It helps in preparation of annual return of the parties
and form no.24,26,27,27E.
 Automatic generation of T.D.S. certificate.
 Preparation of form no.49(B).
 One time input of name, address, pan number for
multiple tasks.
 Input of data from excel sheet.
 Transfer of master data like the parties name to the next
year, address, pan card number etc.
 Various types of validation checks to eliminate errors.
 Helpful in calculation of tax return and other things of
both salaried and non salaried individuals.
 It helps in minimizing the work load of the C.A.s and tax
consultants.