***AUTOMATED INCOME TAX RETURN (COMPANIES)
README***
2. NAVIGATION
3. FORMATTING
4. CALCULATIONS
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3.1 All text fields are capitalized regardless of case entered.
3.2 Date
fields are separated in double digit format.
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4.1 Page 1
Selectable items:
150 Percentage of Chargeable Income [must be selected]
200 Credit Foreign Tax Paid
201 Any other credit relief
260 Pre payment for Installments
262 Late Filing Penalty
4.2 Page 2
Schedule
A & B
All Fields are editable, except Total Fields. Buttons are available for adding additional lines.
Schedule
C
Calculated fields: Balance of Loss Allowable for Set off & Total
Balance of Loss in the first row = amount of Loss in the first row. Otherwise, balance of loss allowable = Balance of Loss from previous year + Current Loss – Loss Set Off current year - Expired Loss.
[Set
off occurs before expiration]
N.B In order to enter a set off amount, the amount of loss for the row, should be set to zero.
If Year of Loss is the same as Year of income, Total is a minimum, of Amount Set off and .5 * Page 1, Line 101.
Page 3
Schedule
D
Calculated Fields: Balancing Charge/Gain & Balancing Allowance/Loss
**Pick Asset from drop Down List
Schedule
E
Calculated Fields: Allowances & Written Down Value C/F
Picking an asset from the drop down list set the Rate under annual Allowances, as per Schedule 2, Part 2 of the Income Tax Return; Otherwise if manually
entering asset, then manually enter the rate for the particular allowance.