The process of filing the taxes has always been a tedious task; and with a complicated tax system in India that is liable to frequent amendments in tax procedures and filing formats, it becomes even more difficult to file the taxes correctly. If you plan to file your taxes by yourself, be sure you have all the necessary documents like W2s, interest statements, school taxes, property taxes, receipts and other applicable information, along with a copy of your previous year’s tax return in place. This makes the task much easier. Moreover, filling in the correct information is also equally important, one small error or incorrect information filled in by you will lead to a lot of rework. So, it is necessary to fill in the right information and verify it before submitting the form.
Talking about the corporate world, organizations may prefer hiring an accountant for fulfilling their taxation needs as there is not much of tax work involved but, it is better if organizations integrate a tax automation software like Taxilla with their Enterprise Resource Planning (ERP) system as it provides error free taxation and is beneficial in a variety of ways.
One of the most important features of Taxilla is its electronic form entry feature as it ensures that all field edits, validations, business rules are enforced at the time of entry itself which helps eliminating errors. The user can now enter data online without worrying about filing with excel sheets because the electronic form entry feature:
· Generates an automatic electronic form as per the tax reports selected
· Forms are formatted with description on how the fields are to be used
· Supports numeric data types, date fields and dropdowns
· Executes automated calculation of fields while conditionally mandatory and default values simplify data entry experience
With this feature, Taxilla ensures data flexibility and accurate data entry. It also helps in error free reporting. Integrating Taxilla with your organizations’ ERP will help you save a lot of time as it allows speeding up the entire taxation process and helps understanding the changing tax environment with great ease.
By Udyog Software Marketing Team