In microsoft.public.money, Ranjit wrote:

- quote -

In the US, Money does not prepare the income tax return. It does
prepare tax reports that can be useful you filling out your taxes.

More importantly it can feed the information to a tax program. The
two that I know work this way in the US are TaxCut and TurboTax.
With TaxCut there is tighter integration in passing the data. With
TurboTax use, Money puts the data into a .tfx file that you import
into TurboTax. Other tax programs may be able to read that .txf
file.

Not everybody details every tax aspect into Money, and you can
select which things get fed to the tax program. For me what I need
Money to provide is the capital gains information (schedule D).

The best thing Money does for me is to track and produce that
information. Other tax information can often be gathered readily,
especially if the taxpayer does not itemize deductions. But for
tracking and reporting capital gains, Money is a real time saver.
Imagine having even a single stock with a dividend reinvestment
plan. You buy a fractional share 4 times per year for a few years.
You then sell the accumulated stock. Each of those reinvestment
purchases contributed to the basis of that stock.

Each person seems to have different things that are important. Even
if Money will not feed the data directly to a tax program for you,
the reports can be very useful in your tax preparation.

This is a peer to peer newsgroup - we are users like you. You will not find
anybody from Microsoft here - well not very often.

--
Regards
Bob Peel,
Microsoft MVP - Money

For UK tips & fixes see
http://support.microsoft.com/default...d=fh;EN-GB;mny.


I do not respond to any emails that I have not specifically asked for.

"Ranjit" <Ranjit[at]discussions.microsoft.com> wrote in message
news:67059C18-ABC3-4AB0-AF64-E332188ADAA5[at]microsoft.com...
- quote -

Hi,

I have downloaded 90-day trial for Money 2006. Wish to share few questions/
observations made during the assessment. Wish to hear back from someone in
Microsoft about these as that will help me make important decision--whether
to purchase (license for) Money.

--
1. I would love to have (Money) software prepare the annual income tax
returns for me and also file them with the government inecome tax department.
This feature seems to be working well for the users in the US. From whatever
documentation I scanned, it does not appear that Money supports this for
India. As of year 2004, the IT department of India has allowed
e-Intermediaries (tax professionals, institutes, ...) to file tax returns in
specified XML format directly with the IT department server.

Reference: http://www.incometaxindia.gov.in/eFiling/Main.asp

"Persons eligible for appointment as e-Intermediaries:
* A registered company / statutory body as an employer
* A firm of Chartered Accountants
* A firm of Advocates
* A Chartered Accountant
* An Advocate
* A registered company / bank providing financial services"

I trust this gives Microsoft to enable e-filing facility for India. So, the
question is what are Microsoft plans in this regards?

--
2. There are some specific (and very popular) insurance products available
in India that are significantly different in nature compared to conventional
insurance available elsewhere. It is almost impossible to represent them in
Money. Will Microsoft look into this issue?

These issues will be very commonly faced by anyeone in India who intends to
use Money as PFM. And the population who are willing to use PFM is only
increasing...

Thanks,
-Ranjit