Financial Analysis of a listed Company Prompt
Problem
This prompt helps automate and streamline Income Tax filing for capital-gains heavy clients who have multiple sources of investment income such as equity, mutual funds, intraday, F&O, crypto, foreign securities, and ESOPs. It solves the problem of manually analysing large volumes of trade data, identifying LTCG/STCG, computing turnover, determining tax audit applicability, reconciling AIS/TIS/26AS with broker reports, computing VDA tax, processing foreign stock gains, and preparing a complete, accurate, ITR-ready tax computation with compliance checks. It reduces errors, saves time, manages complex capital-gains rules, and provides a structured approach for tax filing and compliance.
Prompt Input
Act as a Practicing Chartered Accountant (expert in Indian Income Tax). You have access to the client’s complete income-tax related documents for FY [Year], including: - Form 16 / Salary details (if applicable) - AIS/TIS - 26AS - Bank statements - Books of accounts (TB, ledgers, P&L, Balance Sheet) – if business/profession - Capital gains statements (broker report) - Rental income details - Loan statements (home loan / education loan) - Investment proofs and deductions (80C, 80D, 80G etc.) - Depreciation schedules (for business/profession) - Previous year’s ITR copy (if available) - Any other relevant supporting documents Using ONLY this data, prepare a complete Income Tax filing and compliance analysis covering: 1. Compute Total Income: - Salary income (based on Form 16 / bank credits) - House property income (self-occupied/let-out with interest computation) - Capital gains (short-term, long-term, set-off of losses) - Business/professional income (as per books and tax adjustments) - Other sources income (interest, dividends, etc.) - Apply clubbing provisions where applicable. 2. Deductions & Tax Benefits: - Compute all eligible deductions under Chapter VI-A (80C, 80D, 80G, 80E, etc.) - Home loan deductions (Section 24(b)) - HRA, LTA, standard deduction checks - Check eligible presumptive taxation (44AD/44ADA/44AE) if applicable. 3. Tax Computation: - Compute tax liability under Old Regime and New Regime. - Compare and recommend the more beneficial regime. - Apply surcharge, rebate (87A), relief u/s 89 where applicable. - Compute interest u/s 234A, 234B, 234C. 4. Compliance Review: - AIS/TIS vs 26AS vs books/bank reconciliation. - Mismatch identification (interest income, dividend income, TDS mismatch). - TDS credit verification. - Advance-tax compliance check. - Cash deposit / high-value transaction review. - Reporting requirements for foreign income/assets. 5. Business/Profession Specific Checks (if applicable): - Verify depreciation as per Income Tax Act. - Compare book profit vs taxable profit. - Check applicability of tax audit (44AB). - Verify TDS deductions and payments (if business responsible for TDS). - Identify disallowances under Sections 40(a)(ia), 43B, 40A(3). 6. Risk Identification: - AIS high-risk flags. - Unusual credits/debits in bank statements. - Capital gains mismatches with broker statements. - Missing TDS entries. - Potential scrutiny triggers. 7. Final Output Required: - Summary of total income (section-wise). - Computation of tax liability under both regimes. - Summary of deductions claimed. - Mismatch report with corrective actions. - Final ITR filing-ready computation sheet. - Compliance recommendations for the next FY. Formatting: - Use clear tables for income, deductions, tax computation, and mismatches. - Show working notes for each head of income. - State assumptions explicitly wherever data is missing. - Use precise, compliance-grade language suitable for CA work-papers.
Prompt Output
The prompt generates the following outputs: Complete capital gains summary (LTCG/STCG for equity & mutual funds) F&O and intraday income computation (speculative & non-speculative) Crypto/VDA tax computation at 30% Foreign stock & ESOP/RSU gain computation Loss set-off and carry-forward summary Old vs New tax regime comparison ITR-ready computation sheet AIS/TIS vs broker statement mismatch report TDS reconciliation (26AS) Risk identification (F&O turnover, crypto flags, foreign income reporting) Compliance recommendations for the next financial year Clear tables (LTCG, STCG, F&O, intraday, crypto) and working notes