Tally Automation

Last Date of Income Tax Return Filing: Get an Instant Solution to Your Data Entry Problems

December 31, 2021

Why pay a late fee or penalty?

Why not complete the transactional entries task rapidly into Tally and pay the tax before the deadline?

Hello, to all the Accountant's CA’s, company secretaries, and all taxpayers, this one's for you.

Stay tuned till the end,


In this blog, we will discuss how you can accelerate your process of Income Tax Return filing so that you can be saved from paying the additional fees and penalties and don’t have to deal with enormous work at a time.

Here we are going to tell you the instant solutions to your problems that will save you a huge amount of time in the chaos of the Income Tax filing deadline.

But before that, let’s see,

What challenges do CA’s and accountants face during the last week of ITR filing?

1. Hard to decode the files that come in various formats:

At the last moment, entering data into Tally, especially from different file formats, is like a headache for the accountants and CA’s as they have to deal with humongous data of many companies at one time. To compute the taxable income, they have to spend a lot of time on Tally software to add and deduct the amount which does not come under taxable income.

Every company and business has different software for the data collections, which has a unique format and categories. Accountants and CA’s have to first study the file and understand how the data is articulated in it, and then enter it into Tally software manually. This practice is frustrating and highly time-consuming.

2. Receives documents and files at the end moment:

It is a common thing when it comes to ITR filing. Most companies, businesses, and salaried people awake at the end moment and contact their accountant to file their IT returns. 

Since a lot of documents and transactional details are required for ITR such as bank statements, passbook, salary sleep, and documents like form-16, form 26AS, form 16A, accountants and CA have to work hard unnecessarily and enter all the data into Tally to compute the taxable income for all that account.

In such a scenario, the chance of error will get higher, and eventually, it leads to significant financial loss, and businesses and companies have to pay penalties as well.

3. Websites doesn't work at that time:

As there is one website of the Income Tax department of India that is being used all across the country, websites crash due to the heavy load of users. As a result, taxpayers, accountants, and CA have to wait for the website to reopen, and that is a waste of their valuable time. Entering bank statement entries to Tally is already a time-consuming task, and such problems make the situation even worse.
Aren't these situations dreadful, especially at the time of the Income Tax return filing deadline?

These are some common issues that taxpayers have to go through, but what consumes their most time is bank statement entries into Tally.

Yes, it becomes such a difficult task for an accountant to enter a vast number of entries into Tally to calculate the Taxable income for their client. And, since it all comes at the end of the moment, they have to deal with many problems that make them frustrated and stressed out.

Let’s see why this bank statement entry is a significant issue for accountants and CA’s and what is that instant solution that we are talking about

The first and foremost thing in the Income Tax return filing process is to collect all the necessary files and enter all the transactional entries into Tally manually. Entries like purchase, sales, receipt, payment, contra, journal are the basic options for data entry into Tally.

However, all entries are done manually by accountants and CA’s, so there is a high chance of error that can lead to major consequences.

Also, as mentioned earlier, the files and documents that accountants receive come in various forms like hard copies and soft copies that are sometimes hard to read, and eventually, the entries can go wrong into tally too. Apart from that, partial entries and duplicate entries are common errors that occur in manual data entry tasks.

For example,

If the buyers have made the partial payment through both online and cash, and if the accountant misses one entry into the accounting book, the same mistakes go into Tally as well. As a result, the number of sales and purchases will differ, and the accountant has to spend extra time identifying the mistake.

Now, let’s discuss the solutions that eliminate all your problems that speed up your ITR filing process.

Data Entry Automation Software - TallyWiz 

Yes, TallyWiz is a software that automates your data entry process to help you convert your bank statement to Tally entries in just a couple of minutes. For all the data you received from the client, you can directly push that into the Tally automatically.

With TallyWiz, one can extract all the data from various file formats such as excel, pdf, scanned pdf directly into Tally software, and therefore there is no scope of doing manual data entry here.

Such software makes your accounting faster, accurate, and more productive.

TallWiz is an accounting automation software powered by machine learning and artificial intelligence. Leveraging the technical attributes, the following are the areas where TallyWiz makes the operations easy.

USP’s of TallyWiz

  • It eliminates all your difficulties with the manual data entry task.
  • It gives you 100% accurate result that saves your time of correction.
  • This AI furnished software can handle a high number of transactions in just a matter of minutes.

With all of this, TallyWiz is a great support to you that can help you save your 10X time and 70% efforts.

Coming to the ITR filing, clients want to pay as much as less tax to the government, and therefore they hire an accountant to do the same. But, when the data entry task consumes most of the time, it would be difficult to fulfil the client’s expectations.

Moreover, many forms have to be submitted to the accountant to file the ITR, which is again a time-consuming task because it involves institutions like banks, government, insurance companies, and private organisations. And, if accountants and CA’s are running out of time because of the bank statements entries into the Tally then, such important tasks will suffer.

The major benefit of TallWiz is that,

  • It reminds the clients of document submission through SMS and email notification so that you don't have to remind them every time, and that saves you a lot of time. 
  • Clients can share their bank statements through a web portal or app. The documents are stored under each client’s profile.
  • Tallywiz extracts data from every file format, including scanned pdf, the scope of error reduces, helping you ensure 100% accuracy in your accounting. 

Let's say if you have more than 100 clients, you may save abundant time and make an analytical and logical decision to submit ITR for multiple clients.

Amazing, isn't it?


Accountants and CA’s are the busiest people, especially during the tax filing deadline dates. Tiring and frustrating jobs like transaction entries into Tally, pressure from clients to submit the ITR on time and with the logs of accounts to handle, it becomes difficult to manage time, thus ending up with data entry errors and rework.

Opting for automation software is the best solution that all the intelligent Accountants and Tax consultants are moving towards to sustain in the changing modern requirements.

Wondering what TallyWiz is all about?

For a limited time we will provide a FREE 1-1 demo over google meet any time of the weekday to you or your staff members. Discover the simplicity with which TallyWiz can streamline your operations before you avail of the services. Unfold the magic!

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