Browsing "Older Posts"
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Tally-TDL
By Adhyan Guruji → Saturday, January 15, 2022Tally Prime / ERP (TDL)
Useful TDL for Business USE - Download ALL (Click Here)Click on TDL for View / How to Use7. 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, 2022Basics 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
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Income from capital Gains
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Income from house property
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Profit and Gains of Business and Profession
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Income from other source
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Gross Total Income
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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
Labels: Income Tax -
Unit of Memory
By Adhyan Guruji → Monday, December 27, 2021Unit 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
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Tally Prime - Ledger and Group
By Adhyan Guruji → Thursday, December 23, 2021Ledger-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.
Labels: Tally Prime