Residential status under income tax act 1961
The tax liability of a person under the Income tax act depends upon his residential status in the financial year in which the income accrues or arises to him or is received by him.Financial year means the period of twelve months commencing on the first day of April every year.The residential status may change from… (0 comment)

Surcharge on Income tax ,Rates FY 2019-2020.
Surcharge is an additional tax calculated on the Income tax for certain categories of tax payers based on Income earned.  This means surcharge is  calculated not on the Taxable Income But on the tax calculated on the Taxable income. Government Utilize this surcharge fund  for the purpose to provide quality health service and universalized quality basic… (0 comment)

How to create Ledger in tally erp 9 ?
In tally erp 9 how to create  ledger is a simple task.Before learn to do this we should know some basics.Let’s go there. What is the concept of ledger ? In Manual accounting a  ledger is a page in  General ledger book with a set of raws and columns. The ledger records the classified and… (0 comment)

How to create Company in tally erp 9?
The first thing you should do for accounting in tally erp 9; after installation and activation is that creation of a company in tally erp 9. Company creation means similar to creating a set of books for accounting for a business in manual accounting. In computerized accounting of tally erp 9 we call it company… (0 comment)

How to activate gst in tally erp 9?
Now that GST is the main indirect taxation system in India. Tally erp 9 has also implemented GST  in its software. Tally is fully compatible with gst accounting. Let’s see How to activate GST in tally. From the Gateway of Tally click on F11 Features – F3 Statutory & taxation In this screen. you will… (0 comment)

Tally Shortcut keys in tally erp 9
Shortcut keys helps in executing computer program’s commands easily and quickly. Normally a shortcut keys are the assigned with Alt keys,Ctrl Keys Shift Keys in conjunction with any other key on a computer keyboard. Tally erp 9 is one of the top accounting software developed with shortcut keys for almost all functions or commands. In… (0 comment)

How to create GST sales voucher & invoice in tally erp 9
After Activation of GST  & Tax rate & HSN /SAC setup ;let’s learn  How to enter GST sales voucher in tally erp 9. GST sale entry includes  GST local sale billing& GST Inter state sale billing. and how to print GST sale invoice or sale bill. GST rules comprise two types of Invoices. Tax Invoice :  Tax invoice under GST is an invoice issued by… (0 comment)

How to round off gst invoice in tally ?
Rounding off invoice is a standard practice of a business. This will create an expense / income in profit and loss account. earlier we were using voucher class  for auto round off. Now then, tally has implemented an in built feature. let’s discuss. Create round off ledger Accounting Info> Ledger>Create Name: Round off. Under : Indirect expense, this… (0 comment)

How to enter purchase entry with gst in tally?
Every business makes purchases. In GST, a registered dealer eligible for input tax credit ( ITC ) other than a composition dealer , works contract services , restaurants and some other exceptional cases. So the tax claim shall be recorded in the purchase voucher.   Let’s discuss how purchase invoices are recorded in tally. Follow the below… (0 comment)

How to create stock item for GST ?
Let’s create stock item for GST. This is almost similar to the normal  stock item creation.  At the same time stock group and stock categories can be applied to gst stock items if required. To create stock item for tax compliance, the first and foremost step is to  activate gst in tally. you will get more details from the link. Then decide… (0 comment)