BIR Form 1701, also known as Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts is a tax form which summarizes all the transactions made over the tax calendar year.

Follow these steps in adding your 1701 (Annual Income Tax Return) report in JuanTax

I. During Setup (Important)

You need to make sure that you had classified your organization as an Individual during the setup.

II. Generating 1701 Reports

Start generating income tax returns by going to your dashboard then proceed to Income Tax Return.
STEP 1: Go to Dashboard, Click on Tax Forms > Income Tax Return
STEP 2: Choose the 1701 tab
STEP 3: Click on Generate Report

A pop-up message will appear, confirming that you are generating a billable form. Click on Accept & Continue

STEP 4: Choose the Financial Year you want to File, Click Continue 

STEP 5: Select which Type of Annual ITR you want to file, Click Continue


STEP 6:
Select which Income Tax Rate, Click Generate

III. Exploring Input Summary

After clicking your generated report, you’ll be prompted to the Input Summary window where you need to enter information for your 1701 return.

The Input Summary page contains all the exact information which is included in an actual income tax form, which is why you need to go through all of the sections to successfully file your return.

 

A. Background Information
a1: Basic Information

a2: Tax Information

a3: Civil Status

B. Taxable Compensation Income

B1: Gross Compensation Income
STEP 1:
Click on Gross Compensation Income Tab
STEP 2: Click on Add Transaction

STEP 3: Input all the necessary data, Save Changes


B2: Non-Taxable / Exempt Compensation
STEP 1:
Click on Non-Taxable / Exempt Compensation Tab
STEP 2: Click on Add Transaction

STEP 3: Input all the necessary data, Save Changes


C. Net Sales / Revenues / Receipts / Fees

C1: Sales/Revenues/Receipts/Fees

STEP 1: Click on Sales/Revenues/Receipts/Fees Tab
STEP 2: Click on Add Transaction

STEP 3: Input all the necessary data, Save Changes

C2: Sales Returns, Allowances and Discounts

STEP 1: Click on  Sales Returns, Allowances and Discounts Tab
STEP 2:
Click on Add Transaction

STEP 3: Input all the necessary data, Save Changes

D. Other Non-Operating Income
STEP 1:
Click on Add Transaction

STEP 2: Input all the necessary data, Save Changes

E. Share of Other Government Agency

STEP 1: Click on Add Transaction

STEP 2: Input all the necessary data, Save Changes

F. Tax Credits / Payments 

F1: Prior Year's Excess Credit
STEP 1:
Click on Add Transaction

STEP 2: Input all the necessary data, Save Changes

F2: Tax Payments for the 1st 3 Quarters
Input all the data that is being asked

F3: Creditable Tax Withheld 

F4: Other Tax Credits

G. Portion of Tax Payable Allowed for 2nd Installment to be paid on or before October 15

H. Reconciliation of Net Income per Books Against Taxable Income

H1: Net Income/(Loss) per books

STEP 1: Click on Add Transaction

STEP 2: Input all necessary data

H2: Non-deductible Expenses/Taxable Other Income

STEP 1: Click on Add Transaction

STEP 2: Input all necessary data

H3: Non-taxable Income and Income Subjected to Final Tax

STEP 1: Click on Add Transaction

STEP 2: Input all necessary data

H4: Special Deductions

STEP 1: Click on Add Transaction

STEP 2: Input all necessary data

I. Penalties

IV. Preview of the Report

You can also access a preview of the actual report by clicking on the Report tab next to Input Summary.

V. Notes and Activity

To see the audit trail of activities made within the report, all you need to do is to click the Notes & Activity tab.

VI. Filing the Report

Simply file your report by following the guidelines mentioned in this article through our Help site.

VII. Paying 1701 Returns

Follow the steps in this article for you be to able to pay your filed tax return in JuanTax.





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