Tax Filing with Finova: A Complete Guide for 2025

Tax filing doesn't have to be a last-minute panic. Finova generates tax authority-compatible reports throughout the year so that when filing season arrives, everything is ready. Here's how to use Finova for seamless tax compliance.

Sales Tax / GST Reports

Every sales invoice in Finova tracks tax amounts by tax code. At month end, go to Reports → Tax → Sales Tax Summary. Finova generates a detailed report of all taxable sales, tax collected, and net payable — in the format required by your local tax authority.

Income Tax Withholding (Salary)

Finova's payroll module deducts income tax from employee salaries every month. At year end, generate the Annual Tax Certificates for all employees directly from HR → Reports → Tax Certificates.

Withholding Tax on Suppliers

When you pay a supplier who is subject to withholding tax, Finova automatically calculates and deducts the applicable rate. Monthly withholding tax statements are generated automatically for submission to your tax authority.

Annual Accounts for Tax Filing

Finova's Balance Sheet, Profit & Loss, and Cash Flow statements are formatted for direct use in tax filing. Your tax consultant can access these reports directly — no reformatting needed.

• ✓Sales Tax / GST monthly statements
• ✓Income tax withholding (salary) certificates
• ✓Withholding tax on supplier payments
• ✓Annual accounts — Balance Sheet, P&L
• ✓Tax authority-compatible report formats
• ✓Tax ID tracking per customer/supplier