Frequently Asked Questions - Genius Software

FAQs - Genius

Answer: Genius software is return filing software developed by a Jaipur-based taxation & accounting software development company- SAG Infotech. It is one of the most popular and widely appreciated software that is helping professional clients file different returns since the Assessment Year 2001-02. Irrespective of number, clients can file Income tax returns, tax deduction at source (TDS) returns and Annual Information Report, etc in compliance with the latest rules & regulations of the government using Genius software.

Answer: Gen Genius is a software-packed-all inclusive software. Six modules of Genius Software are as follows:

  • GEN BAL (Balance Sheet),
  • GEN IT (Income Tax),
  • GEN CMA,
  • GEN TDS (Tax Deducted at Source)
    • Gen-BAL (Balance Sheet) prepares final accounts of an entity. For companies, balance sheet and profit & loss A/c as per Revised Schedule VI format are also available.
    • Gen-IT (Income Tax) prepares tax computations of various entities and aids in filing returns both online and offline.
    • Gen-CMA (Credit Monitoring Arrangement) prepares the report required for availing loans such as estimated, projected and provisional final accounts on percentage and Ratio basis.
    • Gen-Form Manager constitutes different types of formats such as Affidavits, bonds, deeds, agreements and other legal documents.
    • Gen e-TDS (Tax deducted at source) prepares quarterly TDS & TCS statements, Form 26QB, 26QC, 15G/15H, 15CA-CB and provides facility of correction statements.
    • Gen SFT (Statement of Financial Transactions) - prepares SFT returns and provides generic submission utility for easy uploading of the same.

Answer: Calculator, Billing, Document Manager, File Manager, Telephone Directory, Client information, Back-up & Restore, Password Settings, Miscellaneous Information like all India Pin Codes, ISD Codes, STD Codes, TAN/PAN-AO Codes, MICR Codes, List of TIN FCs, Bank Branches, BSR Codes, Service Tax Ranges, IFSC Codes, etc are also some of the features of Genius software.

Answer: Yes, any module of the Genius software can be purchased individually, based on your requirement.

Answer: Yes, the clients can be classified as per their status with Genius software.

    Gen Genius categorize a person or group of persons as:
  • Individual,
  • HUF (Hindu undivided family) and
    Gen Genius categorize a firm as:
  • Proprietor Firm,
  • Partnership Firm and
    Gen Genius categorise a company as:
  • Company (Private, Public, Foreign)
    Gen Genius categorise an association of person or institution as:
  • Local Authority
  • Artificial Judicial Person
  • Co-operative bank
  • Co-operative society
  • Trust registered u/s 12A/12AA, Investment Fund, Business trust, any other trust:
  • Any other AOP/BOI.

Answer: Yes, the Final accounts can be prepared as per the latest Revised Schedule VI with Genius software.

Answer: Yes, the Tax Deducted at Source (TDS) can be calculated with Genius Software, using Gen TDS module.

Answer: Yes, the report of 3CA, 3CB, 3CD can be prepared easily with Genius software.

Steps to prepare the same are as follows:

  • Go to → “Balance Sheet/3CD module”, click on Balance Sheet/3CD.
  • Select → “client” and “Financial year”
  • Choose the option → “3CA, 3CB, 3CD” to prepare the reports.

Answer: Yes, the income tax can be calculated correctly with Genius Software, using Gen IT module.

Answer: Yes, Billing Facility is available in Genius software to upkeep the records of the amount due & received by the clients along with ledger of the fee received by clients for services catered to them.

Answer: Yes, Genius software allows you to import data from other accounting software like Tally, NAC, Busy, ACE, TataEx, Focus, MCS and so on.

Answer: Yes, an e-return can be filed easily using Genius software.

Answer: Features that make Gen BAL software an exquisite software are as follows:

  • Preparation of Trading A/c, Audit Report and Profit & Loss A/c as per the latest norms & notifications by government.
  • Balance Sheet preparation in accordance with Revised Schedule VI Format
  • Data import facility from other software such as Tally, MS-Excel, Busy, TATA Ex, NAC, Focus, etc.
  • Formation of Depreciation chart adhering to the laws under the Income Tax Act and the Companies Act.
  • Schedules, Sub-schedules and Lists preparation.
  • Miscellaneous Ratio Analysis.