Browsing "Older Posts"

  • Tally Basic Overview

    By Adhyan Guruji → Friday, March 4, 2022
  • Tally-TDL

    By Adhyan Guruji → Saturday, January 15, 2022

    Tally Prime / ERP (TDL)

    Useful TDL for Business USE - Download ALL (Click Here)

    Click on TDL for View / How to Use


    7. Auto Depreciation (TDL)

    8. Import Ledger (TDL)

    9. Import Item (Inventory) (TDL)

    10.Display Voucher (TDL)

    11. Running Balance (TDL)

    12. Item Summary (TDL)

    13. Driving License  (TDL)

    14. Serial Number in Day Book (TDL)

    15.Ledger & Stock Display Report (TDL)






  • Basic Income Tax

    By Adhyan Guruji → Sunday, January 2, 2022

     

    Basics of Income Tax


    What is Income Tax?


    Income Tax is a tax charged on Income earn during the year

    ·        It pay directly to the government basis your income or profit.

    ·        It is collected by central Govt.

    ·        It is based on Income Tax ACT, 1961

     

    Type of Tax


    ·        Direct Tax Income Tax is Direct Tax, Person paid tax directly to the government and it is levied on profit and income.


    ·        Indirect Tax – Indirect Tax is levied on Goods and Services, Person Collect tax from customer and Pays to Government.

    E.G. Hotel Bill, or Purchase Any Product (GST Include).

     

    Types of Income under Income Tax


    1.     Income From Salaries

    o   (Income from Salary)

     

    2.     Income From Capital Gains

    o   (Profit from Sale of Assets (Land, Building, Jewelry, Bond, Debenture etc…))

     

    3.     Income From House Property

    o   (Income from House (E.g. Rent))

     

    4.     Income (Profit) From Business (PGBP)

    o   (Income from Business)

     

    5.     Income From other Source  

    o   (Lottery/Quiz Winning, interest income, Commission (one Time), Part time Tuition fees ,Income from Dividends, Gift received )


    Note - If any income not falling under any heads are taxable under income from other sources

    ·         All above mentioned income to form Gross Total Income as Shown Below.

    Particular

    Amount

    Income from salaries

    -

    Income from capital Gains

    -

    Income from house property

    -

    Profit and Gains of Business and Profession

    -

    Income from other source

    -

    Gross Total Income

    -

     

    Financial Year / Assessment Year

    ·         Financial Year – Financial Year (FY) is the year in which you earn your income and also pay your taxes on this earned income. Financial year start from 1st Apr and ends on 31st March.


    ·         Assessment Year - Assessment year that year which one file income tax return of the financial year.


    Suppose Today’s Date is 30-Jan-2021, and tax payer want to fill income tax return.


    ·         1st Apr 2020 – 31st Mar 2021 - is Assessment Year


    ·         1st Apr 2019 – 31st Mar 2020 – is Financial Year


    Next

  • Unit of Memory

    By Adhyan Guruji → Monday, December 27, 2021

    Unit of Memory

    Memory unit is the amount of data that is stores in the storage unit.

    ·         BIT

    A binary digit is logical 0 and 1 called BIT.

     

    ·         Nibble

    A group of 4 Bit is called Nibble.

     

    ·         Byte

    Group of 8 BIT or 2 Nibble is called Byte. A Byte represent Data (Character Value/number value)

     

    Above unit is smaller units but there is other unit of memory which store higher storage unit as describe below.

     

    ·         KB (Kilo Byte)

    1 KB     =          1024 Bytes

     

    ·         MB (Mega Byte)

    1 MB   =          1024 Kilo Bytes

     

    ·         GB (Giga  Byte)

    1 GB    =          1024 Mega Bytes

     

    ·         TB (Tera Byte)

    1 TB     =          1024 Giga Bytes

     

    ·         PB (Peta Byte)

    1 PB     =          1024 Tera Bytes

     

    ·         EB (Exa Byte)

    1 EB     =          1024 Peta Bytes

     

    ·         ZB (Zetta Byte)

    1 ZB     =          1024 Exa Bytes

     

    ·         YB (Yotta Byte)

    1 YB     =          1024 Zetta Bytes

     

    ·         BB (Bronto Byte)

    1 BB                 =          1024 Yotta Bytes

     

    ·         Geop Byte

    1 Geop Byte    =          1024 Bronto Bytes

     

    ·         Sagan Byte

    1 Sagan Byte   =          1024 Geop Bytes

     


  • Tally Prime - Ledger and Group

    By Adhyan Guruji → Thursday, December 23, 2021

    Ledger-Group Description

    Tally Prime

     

    S.no

    Ledger

    Group

    Side

    1

    Carriage

    Direct Expenses

    Dr.

    2

    Carriage Inward / Carriage on Purchase

    Direct Expenses

    Dr.

    3

    Custom Duty of Import

    Direct Expenses

    Dr.

    4

    Dock Charge (Inward)

    Direct Expenses

    Dr.

    5

    Factory Duty 

    Direct Expenses

    Dr.

    6

    Factory Expenses & Insurance

    Direct Expenses

    Dr.

    7

    Freight Inward

    Direct Expenses

    Dr.

    8

    Fuel, Heating & Lighting

    Direct Expenses

    Dr.

    9

    Gas, Water & Oil

    Direct Expenses

    Dr.

    10

    Grease

    Direct Expenses

    Dr.

    11

    Manufacturing Exp.

    Direct Expenses

    Dr.

    12

    Motive Power, Coal

    Direct Expenses

    Dr.

    13

    Royalty Based on Product

    Direct Expenses

    Dr.

    14

    Wages

    Direct Expenses

    Dr.

    15

    Consult Charges Income

    Direct Income

    Cr.

    16

    Professional Charges Income

    Direct Income

    Cr.

    17

    Delivery /Freight charges Income

    Direct Income

    Cr.

    18

    Advertisement

    Indirect Expenses

    Dr.

    19

    Audit Fees

    Indirect Expenses

    Dr.

    20

    Bad Debts 

    Indirect Expenses

    Dr.

    21

    Bank Charges

    Indirect Expenses

    Dr.

    22

    Boxes & Labels

    Indirect Expenses

    Dr.

    23

    Brokerage

    Indirect Expenses

    Dr.

    24

    Carriage Outward / Carriage on sales

    Indirect Expenses

    Dr.

    25

    Commission

    Indirect Expenses

    Dr.

    26

    Conveyance Expenses

    Indirect Expenses

    Dr.

    27

    Depreciation

    Indirect Expenses

    Dr.

    28

    Discount

    Indirect Expenses

    Dr.

    29

    Discount On Debtors

    Indirect Expenses

    Dr.

    30

    Distributive Expenses

    Indirect Expenses

    Dr.

    31

    Donation/Charity

    Indirect Expenses

    Dr.

    32

    Entertainment Expenses

    Indirect Expenses

    Dr.

    33

    Establishment Expenses

    Indirect Expenses

    Dr.

    34

    Export Duty

    Indirect Expenses

    Dr.

    35

    Freight Outward

    Indirect Expenses

    Dr.

    36

    General Expenses

    Indirect Expenses

    Dr.

    37

    Insurance

    Indirect Expenses

    Dr.

    38

    Interest on loan

    Indirect Expenses

    Dr.

    39

    Interest on Capital

    Indirect Expenses

    Dr.

    40

    Legal Charge & Law fess

    Indirect Expenses

    Dr.

    41

    License Fess

    Indirect Expenses

    Dr.

    42

    Loss Theft By Fire

    Indirect Expenses

    Dr.

    43

    Office Expenses

    Indirect Expenses

    Dr.

    44

    Office Lighting

    Indirect Expenses

    Dr.

    45

    Packing Expense

    Indirect Expenses

    Dr.

    46

    Postage & Telegram

    Indirect Expenses

    Dr.

    47

    Printing

    Indirect Expenses

    Dr.

    48

    Provisional for Bad debts(New/Old)

    Indirect Expenses

    Dr.

    49

    Rent, Rates & Taxes

    Indirect Expenses

    Dr.

    50

    Repair & Renewals

    Indirect Expenses

    Dr.

    51

    Rounded off

    Indirect Expenses

    Dr.

    52

    Salary

    Indirect Expenses

    Dr.

     

    Sales Tax

    Indirect Expenses

    Dr.

    53

    Stationary

    Indirect Expenses

    Dr.

    54

    Sundry Expenses

    Indirect Expenses

    Dr.

    55

    Telephone Exp

    Indirect Expenses

    Dr.

    56

    Trade Exp

    Indirect Expenses

    Dr.

    57

    Travelling Expenses

    Indirect Expenses

    Dr.

     

    Apprenticeship premium

    Indirect Income

    Cr.

    58

    Bad Debts Received

    Indirect Income

    Cr.

    59

    Commission (Cr)

    Indirect Income

    Cr.

    60

    Discount (Cr)

    Indirect Income

    Cr.

    61

    Discount On creditors

    Indirect Income

    Cr.

    62

    Interest (Cr)

    Indirect Income

    Cr.

    63

    Interest on drawing

    Indirect Income

    Cr.

    64

    Interest on Investment

    Indirect Income

    Cr.

    65

    Interest Received

    Indirect Income

    Cr.

    66

    Rent Received / Rent from tenants

    Indirect Income

    Cr.

     

    Misc. incomes / Misc. Receipts.

    Indirect Income

    Cr.

          67

    Air Conditioner / Mobile / Computer / Printer

    Fixed Assets

    Dr.

    68

    Brand

    Fixed Assets

    Dr.

    69

    Building

    Fixed Assets

    Dr.

    70

    Business Premises

    Fixed Assets

    Dr.

    71

    Freehold / lease Hold Hand

    Fixed Assets

    Dr.

    72

    Land

    Fixed Assets

    Dr.

    73

    Machinery

    Fixed Assets

    Dr.

    74

    Motor Vehicle

    Fixed Assets

    Dr.

    75

    Office Furniture & Fitting

    Fixed Assets

    Dr.

    76

    Patents

    Fixed Assets

    Dr.

    77

    Plant

    Fixed Assets

    Dr.

    78

    Tools/ Office Equipment’s

    Fixed Assets

    Dr.

    79

    Bank / Cash at Bank

    Bank Account

    Dr.

    80

    Cash / Cash in Hand / Petty Cash

    Cash In Hand

    Dr.

    81

    Bank Overdraft

    Bank O/D Account

    Cr

    82

    Capital

    Capital Account

    Cr

    83

    Drawings

    Capital Account

    Dr.

    84

    Purchase

    Purchase Account

    Dr.

    85

    Purchase Return /Return Outward

    Purchase Account

    Cr

    86

    Sales

    Sales Account

    Cr

    87

    Sales Return / Return Inward

    Sales Account

    Dr.

    88

    Stock Opening

    Stock-In-Hand

    Dr.

    89

    Stock Closing

    Entry with Op. Stock

    Dr.

    90

    Bills Receivable (BR)

    Current Assets

    Dr.

    91

    Goodwill

    Current Assets

    Dr.

    92

    Mutual Fund

    Current Assets

    Dr.

    93

    Outstanding Income

    Current Assets

    Dr.

    94

    Prepaid Expenses

    Current Assets

    Dr.

    95

    Outstanding Expenses

    Current Liabilities

    Cr

    96

    Bills Payable (BP)

    Current Liability

    Cr

    97

    Prepaid Income

    Current Liability

    Cr

    98

    Loans (Dr.) / Loan (Lent)

    Loans (Advance Assets)

    Dr.

    99

    Loans (Cr) / Loan from Bank / Loan (Borrowed)

    Loans (Liability)

    Cr

    100

    GST (CGST – SGST – IGST) / TDS / TCS

    Duties & Taxes

    Cr

    101

    Reserve Fund

    Reserve & Surplus

    Cr

    102

    Investment

    Investment

    Dr.

    103

    Sundry Creditors

    Sundry Creditors

    Cr

    104

    Sundry Debtors

    Sundry Debtors

    Dr.