Kalyan Malik

How to File ITR-1 with Form -16 for Salary person ?

2020-09-25T11:43:00.027+05:30

How to File ITR-1 with Form -16 for Salary person ?

Ans :- ITR-1 its full from Income Tax Return -1 .

question is who is applicable for this return?

Answer :- it is applicable for Salary person or pensioner person and income from only one House Property purpose. They are total income not excess Rs.50 lakhs.

ITR -1 Return process give below step by step

Step-1

1st You collect 12th month pay slips from your company where you work as an employee With Form- 16.

Just Examle your per month Salary purpose Income given Below Table.

Table No-1 (Monthly Salary)

________________________________________________________________________________

|Month | April | May | June | July | Aug | Sep | Oct | Nov | Dec | Jan | Feb | March | Total |

|Salary |18352 | 18352 | 18352 |20631| 20631 |20631 | 20631 |20631 | 20631| 20631 | 20631 | 20631 |240735|

Table No-2 (Calculation for Total Taxable allowance)

Particulars

Working Note

Amount

Salary as per provision contained in sec-17(1)

(Basic Salary + Taxable allowance+ Non Taxable Allowance)

670453

Less:- Non Taxable allowance

(Direct given form-16)

Basic Salay With only Taxable allowance →

670453

Less:- Basic Salary

As per monthly Calculation

240735

Total Taxable Allowance →

429718

Table No-3 (Calculation Income Chargeable under the head salary)

Income from Salary

Base

Working Note

Amount

Salary (Excluding all Allowance perquists & profit in lieu of salary)

Basic Salary

Table-1

240735

Add:- Allowances Not Exempted

Taxable Allowance

Table-2

429718

Add:- Value of perquistes

Salary Other then cash

Direct figur in Form -16

Add:- Profit in lie of Salary

incentives/Bouns

Direct figur in Form -16

Less:- Deduction U/s- 16

Direct figur in Form -16

2288

Income Chargeable under the head Salary →

668165

ITR-1 form are divided five part

Part-A( General Information) , Part-B ( Gross Total Income) , Part-C (Deduction & Taxable Total Income) , Part-D (Computation of Tax Payable) ,Part-E ( Other information)

So Follow step by step

Step-1 (General Information)
(Filled up part-A)

PAN : ABCDXXXXA Date of Birth : 01/01/1985 Aadhaar Number: 1234-1234-1234

First Name : Kalyan Middle Name : Last Name : Malik

Mobile No: 93395XXXXX Email Address:KXXXXXX@gmail.com

Are you government by Portuguese Civil Code as per Section 5A?

If YES , provide PAN of the Spouse : [ NO \/ ]

Address

Flat/Door/Block No: Fil Up Road/Street/Post office : filup Name of premises/Building/Village: Filup

Area/Locality: Fill up Town/City/District : Fill up Pin Code:XXXX State: WB

Employee Category : (Other for PVT Sector / Public for Govt Sector)

Section : Voluntarily on or Before the Due Date U/s- 139(1)

Filing Type : ( Original)

Step-2 (Computation of Income & Tax )

(Filled up Part-B)

_________________________________________________________________________________

B1 – Salary /Pension (i) Salary (Excluding all Allowance , perquisites & 2,40,735

Profit in lieu of salary

(ii) Allowance not Exempt 4,29,718

(iii) Value of perquisites 0

(iv) profits in lieu of salary 0

(v)Deduction U/s- 16 - 2288

(Vi) Income Chargeable under the Hear”Salaries” 6,68,165

( i + ii +iii +iv –v)

________________________________________________________________________________

B2-House Property Type of House property Self Occupied

(i) Gross Rent Received / Receivable

/letable Value

(ii) Tax Paid to Local Authorities

(iii) Annual Value( i-ii)

(iv) 30% of annual Value

(v) Interest payable on borrowed capital ( Rs 1,60,502/- )

(vi) Income Chargeable under the head - 1,60,502/-

“House property” (iii-iv-v)

[Maximum loss from house Set off Rs 2,00,000/-]

B3 Income from other Sources

[Ensure to fill “Sch TDS 2”]

B4 Gross Total Income (B1+B2+B3) 5,07,663/-

Note:- To avail the benefit of Carry forward & Set-off of

Loss please use ITR-2

[Salary person take a home loan (i) principal Component Rs. 38,642/- ii) interest component Rs. 160,502/-

iii) pre-EMI interest Rs.17,913/- So ,ITR-1 Only B2 –House property part allow interest Amount Only.

As a salary person House property type self-occupied Then applicable.

This Document Collected only Home Loan Bank Department they are Give this Details. ]

Step-3 (Deduction and Taxable Total Income)

(Filled up Part-C)

Section AMOUNT SYSTEM CALCULAT

80C-life insurance premium deferred annuty 67,964/- 67,964/-

Contributors to provident fund,Subscription to Certain

Equity Share or debenture etc.

[_______________________________________

Note:- principal Amount Home Loan=38642

Add Provident fund = 29322

67,964 ]

80 D –Health Insurance Premium

(A) Health insurance premium (Parents) 9,845/- 9,845/-

C1 Total Deductions 77,809/- 77,809/-

C2 Total Income (B4- C1) 4,29,850/-

Step-4 (Computation of Tax Payable)

(Filled up part-D)

D 11 Total Tax , Fee & interest 10,905/-

(D6+D7+D8+D9+D10-D6)

[Note : It is Automatic Calculate]

Tax Details

Sch TDS 1 Details of Tax Deducted at Source from salary 39,449/-**

[As per form 16 issued by Employer ]

(Note:-It is show automatic by online because it is filed by Employer)

[** Note: Total Taxpay Rs.10,905/- but part-D Show Rs.39,449/-

Then Refund Amount is (39,449-10,905]= 28,544/- ]

Tax paid and Verification

Total Taxes Paid

D12 (v) Total Tax Paid 39,449/-

[D12(i+ii+iii+iv)]

D13 Amount payable 0/-

(D11-D12) (if D11>D12)

D14 Refund (D12-D11) if (D12>D11) 28,544/-

Step-5 ( Other information)

(Filled up part-E)

a) Bank A/c in Which refund , If any ,shall be Credited

1) IFSC Code :SBIXXXX 2) Name of Bank:SBI 3) A/c Number : 123XXXXXXXX

b) Other Bank A/c Details

1) IFSC Code :SBIXXXX 2) Name of Bank:SBI 3) A/c Number : 123XXXXXXXX

Verification

Father Name: Put Father name

Who filed :Self

Place: Kolkata

Click This -> Submit

[ Total Online Process]

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What is learning about the inventory on the Tally ?

2020-09-23T16:49:00.009+05:30

Inventory is a small term but its work and accountant treatment is very large and complex. In the old days we physically maintained the inventory but it doesn’t give accurate inventory information just it spends more time.so this rezone various company look to some accounting Software like – Tally , Marg ERP, Busy, SAP, Profit Book etc.

We discussing tally software about inventory.

Tally is very helpful and easy maintain inventory also.

What We learn inventory with Tally ? discussing given below

we learn purchase process Entry in inventory .

Step-1

Getaway of Tally -> Accounting Voucher->press [ALT+F4]->show this

Partys A/c Name = [Enter creditors Party Name ]

Purchase Ledger = [Select Purchase ledger Name]

Name of Item =[Select what type of item you purchase Example –Mobile Phone

Quentity =Enter how much Quentity you need Example- 25

Rate = Enter Purchas Rate Example-7000/- each

[Note :- Select GST ledger with GST rate Wise ]

Step-2

Getaway of Tally -> Accounting Voucher->press F9->show this

Same As usual but when you Select Redmi Mobail (inventory Item ) Then Show four type option 1)ADV 2)NEW 3) AGST4) On account ,you select Agst Because your Entry Done on Purchase Order Basis .Then Complete your Puchase Entry With inventory .

we learn Sale process Entry in inventory .

Step-1

Getaway of Tally -> Accounting Voucher->press [ALT+F5]->show this

Partys A/c Name = [Enter Debtor Party Name ]

Purchase Ledger = [Select Sale ledger Name]

Name of Item =[Select what type of item you Sale Example –Mobile Phone

Quentity =Enter how much Quentity you sale Example- 12

Rate = Enter sale Rate Example-7500/- each

[Note :- Select GST ledger with GST rate Wise ]

Step-2

Getaway of Tally -> Accounting Voucher->press F8->show this

Same As usual but when you Select Redmi Mobail (inventory Item ) Then Show four type option 1)ADV 2)NEW 3) AGST 4) On account ,you select Agst Because your Entry Done on Sale Order Basis .Then Complete your Sale Entry With inventory .

Basically these two entries are required for inventory, in addition to all the reports display in tally .Just like What is Current Stock , how much item not Sold ,what rate of sold etc.

What is Income -Tax Deduction Section 80C to 80U

2020-09-22T22:10:00.003+05:30

What is Taxable Income ?

Income Computed in Accordance With the provisions of the Income Tax Act Shall Alone be deemed as the income of the assesse and which is included in the gross total income.

What is Income -Tax Deduction Section 80C to 80U ?

Now we discuss Deduction and they are Section in given below .

1.Deduction Under Section (U/S)- 80C

Deduction in respect of Payment for life insurance premium, Own Contribution to Provident Fund, Purchase of N.S.C and Post office Cumulative Time deposit etc. by an individual or a Hindu Undivided (HUF) following payments are eligible for deduction U/S- 80C subject to maximum of Rs.1,50,000 along with deduction u/S- 80CCC, 80CD and 80CCE

2. Deduction Under Section (U/S)- 80CCC

Deduction in respect of Contribution to Pension Fund of LIC or other insurance Company U/s- 80CCC Deduction is allowable to an individual for the Amount Paid or deposited by him During the previous year out of his income chargeable to annuity plan of LIC or annuity plan of other insurance Companies for receiving pension from the fund under pension scheme. Maximum Amount of deduction is Rs.1,00,000/-

3.Deduction Under Section (U/S)- 80CCD

Deduction is allowable to an individual for the amount paid or deposited by a Central Government employee or by any other employee to the employee’s account in a notified pension scheme of Central Government subject to a maximum of 10% of his Salary.

[Note:- Salary includes Basic +Da ,if the terms of employment so provide ]

4. Limit of deduction U/s- 80C, 80CCC and 80CCD [Sec. 80CCE]

According to Sec . 80CCE the permissible deduction u/s 80C. 80CCC and 80CCD Cannot Exceed the Overall limit of Rs.1,50,000/-.

5. Deduction U/s 80 CCG in Respect of investment made under an equity savings Scheme.

This deduction is allowable to an individual and resident in india provided that :

i) Assessee acquired listed equity shares in accordance with the scheme as may be notified by the Central Govt.

ii) Gross total income of the assesse for the relevant assessment year should not exceed Rs.10,00,000/-

iii) Assessee is a New retail investor in respect of above notified scheme.

iv) The amount so invested is locked in for a period of thee years from the date of acquisition of such listed equity shares.

v) The investor satisfied such other condition as may be prescribed.

Amount of deduction

The amount of deduction is 50% of actual investment or Rs.25,000/- whichever is less

6.Deduction U/s -80D in respect of Medical Insurance Premium.

The deduction is allowable to an assesse resident in India being an individual or a HUF for payment of medical insurance premium and other health schemes alike CGHS provided that:

i) The amount was paid by any Mode of payment other than cash out of income Chargeable to Tax.

ii) The Amount Was Paid on a Policy under a Scheme of health insurance to the General Insurance Corporation of India or any Other Insurer Approved by the insurance regulatory and development Authority.

iii) In case of an individual ,the premium was paid on the health of tax-payer od his /her spouse or dependent children or parents .

iv) In case of HUF , The premium was paid On The health of any Member of the Family .

Amount of deduction

(a) On the Health of the Assesse , Spouse and dependent Children : Maximum amount of deduction is Rs.15,000/- for a Senior citizen (Age exceeding 60 years)…the Maximum deduction will be Rs.20,000/-

(b) On the Health of parent or parents (Whether dependent or not ):Maximum deduction will be Rs.15,000/- for a senior citizen maximum amount will be Rs.20,000/-

(d) Amount Paid for preventive Health checkup of self ,Spouse , dependent children and Parents can not Rs.5000/- and shall be Within the over all ceiling as above a, b & c.

7) Deduction U/s- 80DD [ Medical Treatment and Maintenance of Handicapped dependants]

The deduction is allowable to an assesse resident in india being an individual or a HUF for

(a) Any Expenditure incurred by way of medical Treatment and rehabilitation of a handicapped dependent.

(b) Deposit in any scheme of the LIC or UTI or any Other insurer approved by the CBDT for the benefit of handicapped dependants.

Amount of Deduction

The Amount of deduction is Rs.50,000/- irrespective of the Expenditure or amount actually deposited. In case of person with severe disability , the amount of deduction allowable will be Rs 1,00,000/-

8)Deduction U/s- 80DDB [ medical treatment ]

This deduction is allowable to an assesse resident in India being an individual or HUF for any Expenditure incurred by way of medical treatment of specified disease for assesse or for a member of HUF.

Amount of Deduction

The amount of deduction is actual expenditure or Rs.40,000/- whichever is less. If the expenditure is incurred for a senior citizen , the allowable deduction is actual expenditure or Rs.60,000/- whichever is less. The Amount of deduction will be reduced by the amount of reimbursement .

9) Deduction -80E [ interest on loan taken for higher education]

This deduction is allowable to an individual assesse who has taken loan for higher education .

Amount of Deduction

Any amount paid as interest on such loan is allowable as deduction for a Maximum period of 8 years beginning from the year of repayment.

10) Deduction U/s -80EE [interest on loan for acquiring residential]

This deduction is allowed to an individual only in respect of interest on Loan for acquiring residential unit if following conditions are satisfied .

i) Tha Loan is sanctioned by bank housing finance company.

ii) The amount of loan does not exceed Rs.25,00,000/-

iii) The Value of house property does not exceed Rs.40,00,000/-

iv) The assee does not own any residential house property .

The amount of deduction subject to maximum Rs. 1,00,000/- for the assessment year 2020-21.

11) Deduction U/s-80G [respect of Donation ]

All categories of assesse are entitled to get deduction in respect of donation U/s-80G I following Conditions are satisfied .

i) The Donations to be made to certain funds , Charitable Institutions etc .Which are qualified under this section.

ii) Donation in kind does not qualify for deduction.

iii) In case of certain donations it is restricted to 10% of Gross Total Income (G.T.I )

iv) Donation of any sum exceeding Rs. 10,000/- Paid in cash or otherwise by cross cheque ,shall not be allowed as deduction .

12) Computation Of Gross Total Income U/s -80G

Gross Total Income as reduced by LTCG, Deduction allowable U/s-80C to 80U (excluding -80G ),any income which is not taxable and Income U/S 115 AA ,115BB, 115AC and 115AD where special rate of taxes are applicable.

Computation Of Gross Total Income U/s-80G

Gross Total Income (Taking all heads of Income) ***

Less: Deduction allowable U/s 80C to 80U (excluding 80G) ***

***

Less: Long-term Capital Gain ***

Less: Income referred in Section 115A,115B,115AC and 115AD ***

Gross Total Income ***

13) Deduction-80GG [rent paid by an assesse]

i) He Should not be in receipt of any house rent allowance from his employer.

ii)the individual assesse or assessee’s spouse or minor child or in case of HUF any member of HUF ,does not own any house at the place where the assesse performs duties of office or employment or carries on his business or profesion .

iii) Assessee is not the owner of any house which is determined as self-occupied property at any other place.

iv) He files a declaration in Form 10BA.

Actual amount of deduction

The amount of deduction U/s-80GG is the least of the following three alternatives:

i) Excess of actual rent paid over 10% of total income

ii) Rs.2000/-per month

iii) 25% of total income

14) Deduction-80GGA [Donation for scientific Research or Rural Development ]

Donations Paid to the following institutions or associations in previous year qualify for deduction :

i) A University or other Institution approved U/s 35 (1) (iii) for research in social science

ii) A scientific research /university /ABY other approved instiution U/s-35(1)(ii)

iii) An institution or association set up for rural development U/s-35CC or Training of persons for rural development program approved U/s-35CCA(2) .

iv) A public sector company ,local authority or approved institution or association for carrying out any eligible project or scheme approved U/s-35AC.

v) An approved institution or association has its object to undertake any programme of conservation of natural resources or afforestation approved U/s-35CCB

vi) A rural development fund set up and notified by the Central Government for the Purpose of u/s- 35CCA(1)(c).

vii) National fund for rural development set up and notified by the Central Government.

viii) Any Sum Paid to the National Urban poverty Eradication Fund set up by Central Government U/s-35CCA.

15) Deduction U/s-80GGB [ Donation or contribution by any person to any Political Party]

Any contribution Made by an Indian company to a Political party(Registered U/S-29A of people Act 1951) not exceeding gross total income is allowable as deduction if such amount paid by cross Cheque.

16) Deduction U/s- 80GGC [donation or contribution by any person to any political Party]

Any contribution Made by any person other than local authority and artificial Juridical person wholly or partly funded by the government to a political party (Registered U/S-29A of people Act 1951) not exceeding gross total income is allowable as deduction if such amount paid by cross Cheque.

17) Deduction U/s-80IA

Deduction in respect of profit and Gains from industrial undertaking or enterprises engaged in infrastructural development etc.

Amount of deduction :

For an undertaking rngaged with providing telecommunication Service:

1.For 1^st 5 years 100%

2.for next 5 years 30% of the profit

3.for all other undertakings 100 % of the profit for 10 years.

18) Deduction U/s- 80IAB

Deduction in respect of profit and Gains by an undertaking or an enterprise engaged in development of SEZ.

Amount of deduction.

The deduction will be allowed an amount equal to 100 % of profit & Gains derived from such business. The deduction is available for 10 consecutive assessment years out of 15 years beginning from the year of staring of its business.

18) deduction U/s- 80ID

This deduction is available to an Undertaking engaged in the Business of new hotels and Covention center in national Capital Territory of Delhi and adjoining areas. Hotel may be two star ,three star or Four star category .

Amount of Deduction

100% of the profit and gains for first 5 years.

19) Deduction U/s- 80IE [profit and gains from specified undertakings in North-Eastern States ]

This deduction is available to an undertaking Located in any North –Eastern State and Has Begun or Begins.

Deduction – 100% of profit and Gains for 1^st 10years.

20) Deduction U/s -80JJA [profit and gains from business of collecting and processing of BIO-degradable Waste.

Where the Gross Total Income of an assesse includes any profit and gains derived from collecting and processing or treating of Bio-degradable waste for generating power or producing “BIO-fertilizer”, Bio-pesticides or other biological agents or for producing bio-gas or making pellets or briquettes for fuel or organic Manner.

Amount of deduction

100 % of the profit derived from such Business for a period of 5 Consecutive Years from year in Which the business Commences.

21) Deduction U/s -80JJAA [Deduction in respect of employment of new regular workmen ]

Indian Company deriving profit from manufacture of goods in its factory ,Which Has Fulfilled the Following Conditions can claim this deduction.

I) The company is engaged in the manufacture or production of article or things.

II) It has at least 100 Workmen.

III) It should not be formed by splitting – up or reconstruction of an existing undertaking or amalgamation with another industrial undertaking.

IV) The assesse should submit a return along with a report of chartered accountant in For, 10DA.

V) Increase of regular Workmen employed in a year should be 10% or more of the Total Workmen of the last year.

Actual Amount of Deduction

30% of the additional Wages of the new regular workmen employed by the assesse in the previous year. This deduction is available for 3 assessment years Only .

22) Deduction- U/S-80LA [Deduction in respect of Certain incomes of offshore Banking Units]

This deductions eligible to a scheduled bank (Not being a bank incorporated by or Under the laws of a country outside India ) Owning and offshore Banking Units in a SEZ.

Amount of deduction

a) For first 3 consecutive Year 100 % of income.

b) For the next 2 consecutive year 50% of income.

23) Deduction U/s- 80P [Income of co-operative Societies ]

1.where the assesse is a co-operative society and Its Gross Total Income is from any one or more of the following activities are deductible @ 100% of the profit :

i) Carrying on the Bisiness of Banking or providing credit facilities to its Memebrs.

ii) A cottage industry.

iv) Marketing of agricultural produce grown by its members.

v) Collective Disposal of labour to its Members.

vi) Fishing or allied activities.

2. Restricted deduction is allowed for profits attributable to other than above specified activities.

24) Deduction U/s-80 QQB [Deduction in respect of royalty of an author or authors.]

Deduction under this section shall be allowed to an individual resident in India being an author ,or co-author – the gross total Income includes any Income Derived by him in the exercise of his profession .

Amount of deduction

100 % of the royalty income etc .subject to a maximum Rs.3,00,000/- in case of royalty or copyright, fees shall be restricted to 15 % of the Value of Books Sold During the previous year.

25) Deduction U/s- 80RRB [deduction in respect of royalty on patents]

An assesse being an individual ,resident in India and a patentee and who received any income by way of royalty in respect of a patent registered on or after 01.04.03 under the patents Act 1970 can claim such deduction .

Amount of deduction

a) Income from India : 100% of such Income By Means of Royalty or Rs.3,00,000/- whichever is less.

b) Income from outside india : The amount of deduction shall be restricted to the actual amount brought into India within 8 months from the end of the previous Year.

26) Deduction U/s- 80TTA [ Deduction In respect of interest on deposits in Savings Account.

This deduction is allowed to an individual or a Hindu coincided Family .if gross total Income Includes any Income by way of interest on deposits in a savings accounts is –

i) The Banking Control Act 1949 applies to all banking institutions.

ii) A co-operative Bank (Including Land mortgage Bank or Land Development Bank )

iii) A Post Office Saving A/c.

Deduction

Actual Amount of deduction is actual amount of interest subject to maximum Rs.10,000/-

27) Deduction U/s- 80U [ Deduction In the case of blind or permanent Physically Handicapped persons]

A resident Individual suffering from a permanent Physical disability or is Subject to mental Retardation and Which has the effect of reducing substantially has capacity for Normal Work , is entitled to a Government Hospital .in Form 10IA

Amount Deduction

a) Rs.50,000/- irrespective of actural Expenditure.

b) Rs.100,000/- irrespective of actural Expenditure in case of a Person Of severe Disability

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What is Tally Exam ??

2020-09-21T12:32:00.004+05:30

How does Tally exam?

Anyone can Completed Tally course Any computer instituted. After completed thus course they are eligible for Tally Examination .this Examination watch what are you learn about Tally and Certificate.

How to Examination in Tally ?

Tally Examination are Two Type. First Type is Oral Exam and Second Type is Practical Exam.

Tally faculty or Teacher ask Some Question to Student about Tally History , Income Tax Rate , Employees' State Insurance , Pension Etc. it is a Oral exam. May Be Question just Like Given Below with Answer :-

Q1) which year created tally software and who is Founder?

Ans :-Tally Software created in 1986 year . Shyam Sunder Goenka and Bharat Goenka Founder of Tally Pvt.Ltd

Q2) what is current Rate Slab of Income Tax respect 2020-21 financial Year ?

Ans :- Taxable Income Tax Rate

From Rs.1/- to Rs.2,50,000/-	NIL (No tax)
From Rs. 2,50,001/- to Rs.5,00,00/-	5 %
From Rs. 5,00,001/- to Rs. 10,00,000/-	20%
Above Rs.10,00,000/-	30%

Q3) How Much percent employer Deducted ESI from Employee Salary?

*Particulars*	*Current Rate*
*Employer share*	*4.75 %*
*Employee Share*	*1.75%*
*Total*	*6.50 %*

Q4) what percent Provident Funds (PF) Deducted from Employee Salary?

Ans:- The rate of contribution is 12% on basic wages , Da (Dearness Allowance).

Q5) what is Last Date of Income Tax Return ?

Ans 31st July every year but it is extended by only Government Announcement.

Q6) what is Form 26AS?

Ans:- Form 26AS Show details of TDS deducted on your salary.

Q7) How to know about Tax deducted at source (TDS)

Ans :- Tax deducted at source is a Indian Indirect Tax . it is applicable on your Income .Various Income decided Various TDS Rate .Just Example on section -194-I , Ram paid rent on Land or building Rs.1,00,000/- .this amount Divided two part Ram paid Rent purpose Rs.90,000/- and Remaining Balance Paid to TDS Purpose Rs. 10,000/- . when Land Owner submit his income Tax Return then he collect this 10 % amount .

Q8) what is Real account Nominal Account and Personal Account ?

Ans 1)Real Account :- Debit What come in . Credit what Goes out. It is related All Assets

2) Nominal Account :- Debit all expenses and Losses. Credit all Income & Gains. It is Related profit and Loss .

3) Personal Account :- Debit the Receiver . Credit the Giver . it is realated all parties Debtors and creditors .

Q9) What Is Financial Year or Previous Year?

Ans :- Financial Mains Current Year and Previous year mains past years are also called Previous Year .

It is a General Question not only ask Tally Examination it also ask Accounts Interview time in a Privet Company or CA firm.

Tally faculty or Teacher do some accounts problem given to you and you solver out in Tally It is called Practical Examination.

Q1) Create a Company in Tally?

Ans : Gateway of Tally ->Alt +F3 -> create Company .just Filed Details.

Q2) Monish Purchase 200 pic of pen @ Rs.40/- Each cash . Do Entry in Tally?

Ans:- Gatewat of Tally -> Accounting Voucher -> press F9 (Purchase Voucher)

Entry

Purchase A/c------ Dr Rs.8,000/-

To Cash A/c Rs.8,000/-

(Being Monish Purchase 200 pic of pen @ Rs.40/- Each cash)

Q3) cash Deposited into Bank Rs.4,000/-?

Ans :- :- Gatewat of Tally -> Accounting Voucher -> press F4 (Contra Voucher)

Entry

Bank A/c ------------Dr Rs.4,000/-

To Cash A/c Rs.4,000/-

(Being cash Deposited into Bank)

Q4) Ajoy Received Rs.4000/- on Bank Account Do Entry in Tally?

Ans :- Gatewat of Tally -> Accounting Voucher -> press F6 (Receipt Voucher)

Entry

Ajoy A/c ------------Dr Rs. 4,000/-

To Bank A/c Rs.4,000/-

(Being Ajoy Received Rs.4000/- on Bank Account)

Q5) Raja Sale 5 pic of Calculator @ Rs 250/- on credite ?

Ans:- Gatewat of Tally -> Accounting Voucher -> press F8 (Sale Voucher)

Entry

Raja A/c --------------Dr Rs.1250/-

To Sale a/c Rs.1250/-

(Being Raja Sale 5 pic of Calculator @ Rs 250/- on credite)

Q7) Rent paid to Rs. 4500/- on Cash ?

Ans:- Gatewat of Tally -> Accounting Voucher -> press F5 (Payment Voucher)

Entry

Rent A/c --------------Dr Rs. 4,500/-

To Cash A/c Rs.4,500/-

(Being Rent paid to Rs. 4500/-on cash)

What is Tally Syllabus?

2020-09-19T14:06:00.000+05:30

Tally is Accounting Software application. Its Syllabus is very big but Basic Learning Purpose . we divided some chapter . All chapter Created a Syllabus .Now We discuses chapter wish given Below .

✅✅Chapter -1 (introduce Tally )

This chapter We Learn What Is Tally. Which year and Who create and How to Customize And create Company Following Step etc.

i) Company Info -> Create Company -> Fill-up Details. Given Picture Below

✅✅Chapter -2 (Introduce Tally Gateway )

This chapter we learn About Tally Gateway just normally introduced :- 1)Masters 2)Transaction 3)utilities 4)Audit 5) Reports 6) Display .Given picture Below

1) ✅ Masters :- Master are Two Part 1^st Accounts Info 2^nd inventory Info . Accounts Info are Maintain how to Create Ledger ,Voucher ,Alter etc Use purpose . Inventory Info are Maintain how to create Stock ,Godown , stock unit , etc Use purpose .

2) ✅ Transections :- Transection are Two Part 1^st Accounting Vouchers and 2^nd Inventory Vouchers .

Accounting Vouchers in this including Accounts Voucher Mode just Like Receipt, Contra , Payment, Journal , Sale ,Purchase .

Inventory Vouchers in this including Inventory Voucher Mode just Like Stock journal, Physical stock , Stock Transfer , Stock Sale , Stock Purchase etc.

3) ✅ Utilites :- Master are also Two Part 1^st is Import Data Use for XML format Data are Import in Tally . 2^nd is Banking in this option Use for Cheque Printing, Cheque Register ,Bank Reconciliation, Deposit Slip Payment Advice , Post-Dated Summary .

4) ✅ Audit :- in this option use for Finacila Audit perpose .

5) Reports : this option Use full for Balance Sheet , Profit & loss , Ration Analysis, Stock Summary report perpose .

6) ✅ Display :- this option Use for ledger Balance Amount Show

✅✅Chapter -3 ( Create Ledger & Voucher)

We are Learn (i) how to Create Ledger And Voucher (ii)Alteration of Voucher and Ledger (iii) Voucher Print (iv) create Voucher Type (v) Single and Double Mode Voucher Entry etc

1)Ledger Create :- Gateway of Tally -> Account info -> Ledgers ->Signal Ledger Create.

2) Voucher Create:- Gateway of Tally -> Account info -> Voucher type -> create

✅✅Chapter -4 ( Accounting Report)

We learn (i) Work with day Book (ii) Check Ledger and Group Balance (iii) Bank Reconciliation

Show Various Reporting as like Trail Balance , Profit & Loss A/c , Balance Sheet

✅✅Chapter -5 (Cost Center and Catagery)

This chapter We learn (i) How to Creat Cost center (ii) option of Cost center Classes

✅✅Chapter -6 (inventory Management)

At of all It is Very Important Chapter .what we learn This Chapter ?

(i)1^st how to create Stock ,Inventory Master , inventory Voucher.

(ii) 2^nd Inventory Report , Stock Query ,Stock Category

(iii) Very Very important How to work with Purchase Order Sale Order ,Purchase , Sale Entry and Tax-invoice .

✅✅Chapter-7 (Payroll Management)

It is huge Chapter this chapter we learn (i) Salary Calculation And Entry ,Pay-slip etc

(ii) ESI ,PF Entry and Calculation (iii) Leave Calculation (iv) Gratuity

✅✅Chapter -8 ( Tax –Management )

It is Vital Part to know every Accountant or those who work with Accounting Filled. This Chapter We learn how to Calculate Tax , Tax –payment and How to Save Tax . Basically We learn GST, TDS, Income Tax .

Accounting Need for company

2020-09-16T12:34:00.001+05:30

Accounting Need

Accounts are the basis of any powerful organization. Without an account you cannot build a strong organization, medium level business or small level business. No organization will grow or stabilize in the future without an account. Accounts for each or every step are needed Not only in business we need accounts for all the work in life but good accounts play a big role in business.

Accounting Need five points are Given Below .

1) Business location: -"Business location" is a small word but it means bigger. Because your every decision is based on the location of your business. So by adopting the accounting method you can only know the location of your business. Investors first decide the financial position of your business and decide to invest in your business so a good and accurate business position is indicated by a good accounting method. If you do not manage the account, you will not know the location of your business. This is where accounting is most needed

2) Loan Opportunity: - Every business needs its own capital or loan for growth. Usually people take business loans. Borrowing requires at least 5 years of your business accounts balance sheet, Profitand Loss Accounts . This is easy to do when it is maintained to accounts. So it is Need Of Accounts

3) Depreciation of assets: - The value of assets always decreases every year. How to know the value of your current assets can only be known by using the accounts method. So this calculation is required or is simply fulfilled by the account. Only accounts maintain the rules of depreciation and get the right value for your assets.

4) Outstanding: - Debtors and creditors arrears of how much money is left. Accounts are required for how many days to pay. Accounts help you key your responsibilities and help at the right time.

5) Book Finalization:- Accounts is Help of easy to Finalization company Account Book .easy to Prepare Balance Sheet, Trial Balance , Profit and Loss Accounts etc.

Is it helpful studying tally with GST?

2020-09-14T12:37:00.008+05:30

🌞🌞🌞🌞 Is it helpful studying tally with GST?☀☀☀

During this period accounting is maintained by some different software like Tally ERP, Marg ERP, Busy, SAP, Profit Book etc. However, in the statistics we see in the software, tally is very popular and simple because it is designed for small and medium business purposes.

Tally full name approved transactions in the linear line yard. The short name tally has been made with the first letter of each word.

⛄⛄⛄ First We See Tally History .

Tally is created by Shyam Sinder Goenka and Bharat Goenka in since 1986 year. Always helpful for those who come to the world account. Currently, Indians introduce GST (Goods and Services Tax) on July 1, 2017 instead of VAT (Value Added Tax). For this, Tally changed its Old system Tally ERP to Tally ERP with GST.

⛄🌀🌀🌀Features of Tally with GST

✅ 1^st easily Set Company PAN and GST Registation Number .

✅ 2^nd easily Maintain Stock not Only Stock including HSN Code and GST Rate

✅ 3^rd Billing easy and User Friendly .

✅ 4^th Stock Expire and manufacture Date Show Features Is To Good

✅ 5^th Easily Amount Receipt and Payment Against Bill Number .

✅ 6^th Easily Maintain Purchae order with Purchase Voucher and Sale Order with sale Voucher .

✅ 7^th Easily Make Debit and Credit Note issued .

✅ 8^th Somuth maintain GSTR-1 , GSTR-1 is a Monthly Sale Invoice Data

Show in Getway of Tally >>>Display >>>Statutory Report>>>GSTR-1 set Month and You easily know How many Sale for this Month .

✅ 9^th Somuth maintain GSTR-2 , GSTR-2 is a Monthly Sale Invoice Data

Show in Getway of Tally >>>Display >>>Statutory Report>>>GSTR-2 set Month and You easily know How many Purchase for this Month .

✅ 10^th Somuth maintain GSTR-3B , GSTR-3B is a Monthly Show How many ITC (input tax credit) Data

✅ 11^th easily filed GST Tax Direct Tally to GST Portal

✅ 12^th easily prepare Final Account , profit and Loss Account , Cashflow ,Fundflow , etc

✅ 13^th Tally not Easily maintain GST ,maintain some other Tax like TDS, Income Tax and Payroll Easily .Tally learning Not only for GST it is a Full package of Accounting

Show in Getway of Tally >>>Display >>>Statutory Report>>>GSTR-3B set Month and You easily know How many ITC for this Month .

☑ Career opportunity with Tally (GST)

1) ✅ Medicine store

2) ✅ Audit Firm

3) ✅ Hotel Billing system

4) ✅ Hospital Billing System

5) ✅ Tax consultant

6) ✅ Law-worker

7) ✅ Shopping Mall

8) ✅ Cashier

9) ✅ MIS report

10) ✅ Retail store Etc.

After all it is no Doubt learning Tally with GST 100 % Helpful for your Career.

Meaning of Partnership Accountancy

2020-09-09T14:51:00.013+05:30

🚚🚚🚚🚚 Meaning and Concept of Partnership Profit and Loss Appropriation Account 🚗🚗🚗🚗

An account in which the net profit of the profit and loss account made at the end of each accounting period in an organization is distributed among its owners in accordance with the specified rules or contracts and transferred to other reserve funds as required is called profit and Loss Appropriation account. This calculation of distribution for profit and loss is calculated at the end of the financial report. It is the last stage of all financial calculations. This is calculated at the end of each financial year but before preparing Balance Sheet .

🌳🌲🌲Methods of Accounting For Partnership Business 🌳🌲🌲

The Partnership Act of 1932 came into force in India. However, this law does not impose any restrictions or controls on the accounting and accounting of the partnership business. As a result, in the same way as a monopoly, family-dominated unorganized business, the partnership business calculates any one-way or two-way filing system. In a partnership business, a two-way filing system is adopted. such as :- 1) Journal 2) Day Books 3) Ledger 4)Trial Balance 5) Final Account

However, in this transaction, an additional account needs to be opened only before the final accounts can be created and after calculating the balance sheet after the profit-loss calculation. This is called profit and loss appropriation account. This allows the net profit to be distributed among the partners.

In partnership, the owner is one or two or more. As a result, not all transactions involving the owner can be liable at the same time. The interests of each partner are to be carefully considered. For this purpose, a capital account is kept in the name of each partner. Since each account has a separate capital account in the account, the balance of the test and the calculation of that capital are calculated separately.

Normally, the balance sheet of each partnership shows the share capital towards liability.

It shows the balance of salary, commission, bonus, capital on interest, share of profit and capital of each partner by subtracting this drawing and interest on the drawing.

📑 📖📖📖 Problem

Kalyan and Soumit are Partners in a firm Sharing profit and Losses as 3:1 .the Profit and Loss Account of the firm for the Year ended on 30.06.2020 , Show a Net profit of Rs.75,000/- . you are Required to prepare Partners’ Capital Accounts Under Fixed Method By Taking into Consideration the Following Information:

(i) The Partners’ Capitals as on 01.07.2019 were Kalyan Rs.60,000 and Soumit Rs.40,000/- . On 01.10.2019 Soumit withdraw Cash Against a Capital of Rs.10,000/- While on 01.01.2019 A introduced Additional Capital of Rs.15,000/- interest on Capital is to be Calculated at 5 % p.a.

(ii) The Balance in Current Accounts of the Partners as on 01.07.2019 Were Kalyan Rs.15,000/- (Cr.) and Soumit Rs.10,000 (Cr.)

(iii) Partners’ Drawing against profit Amounted to : Kalyan Rs.20,000/- And Soumit Rs.18,000/-. Interest on Drawing is to be Charged at 10 % P.a. at an Average of 6 Months.

(iv) Salary to Kalyan Rs.6,000/- and Commission to Soumit @ 2 ½ % on Sales of Rs.2,00,000/-

(v) Kalyan loan of Rs.25,000/- was taken from Soumit two years Back and it remains unpaid .

(vi) Rs.10,000/- is to Be transferred to the reserve fund of the firm before distribution of profit.

🔖✅✅✅ Solution :

In the Books Of Kalyan & Soumit

Partners Profit and Loss Appropriation A/c

For the year ended on 30.6.2020

🌈🌈🌈🌈☀☀☀🌟🌟Working Note:

(1) Calculate For Partners Capital on Interest (5 % Interest P.a)

Kalyan = Rs.60,000/- For 3 month (60,000 X 5/100 X 3/12) = Rs. 3,000/-

Additional Rs. 15,000/- For 6 Month (15,000 X 5/100 X 6/12) =Rs. 375/-

Rs. 3,375/-

Soumit = 40,000/- For 3 Month( 40,000 X 5/100 X 3/12) =Rs. 500/-

Additional Rs.30,000/- For 9 Month (30,000 X 5/100 X 9/12) =Rs.1,125/-

Rs.1,625/-

(2) Calculate For Partners Drawing on Interest (10 % Interest for 6 Month)

Kalyan = Rs.20,000/- For 6 Month (20,000 X 10/100 X 6/12) = Rs. 1,000/-

Soumit = Rs.18,000/- For 6 Month(18,000 X 10/100 X 6/12) =Rs. 900/-

Rs. 1,900/-

Can do LLB after Graduation or Class-12 ???

2020-09-06T16:03:00.012+05:30

🌎🌍🌏 After completed class -12 You can Eligible for Graduation But many student ask a question . They Can Do LLB after class-12 and after completed Graduation Student ask same Question they Can Do LLB . it is Answer yes Both Of can Do LLB .

🔆 First of Know What is LLB ???

LLB it Full Form = Literally Legum Baccalaureus But we are know Bachelor of Law Both are Right . In two ways you Can Do LLB

🔅First Way = You can Completed Class -12 You Can Apply For LLB Course But it is a 5 Year course it is Called Integrates Course .Because You can competed you Graduation . You Need a Entrants Exam . Minimum 55 % Marks in Your Higher Secondary Education any Stream Need for Attend LLB Admission Exam . Qualified this Exam You can Do LLB .

🔅Second Way = You can Completed after Graduation Any Stream (B.com /B.A/B.Sc) Minimum 55% Marks for prepare LLB Entrance Exam .this Entrance Exam Name is Common Law Admission Test its Short Name Is CLAT . It is 100 Marks one Paper for 2 Hours Online Exam in English . It is For 3 Year Degree Course Because You completed Graduation.

✏📋 Paper Topic Given Bellow

1) Logical Resoning = 25 Marks

2) General Awareness = 25 Marks

3) Legal Aptitude = 25 Marks

4) Quantitative Aptitude = 25 Marks

_______________________________________

Total = 100 Marks

👀 You can Do specialize in LLB. Some specialization careers are given below .

1) ✅ Income Tax Law = It is Best Specialization Career for those Student who can Completed his/her Graduation in B.com .This Specialization you learn and Work Tax Filed ,like Goods and Service Tax, Income Tax, Sale Tax , Custom Duty Tax etc.

2) ✅ Labour Law = how to deals with Labor’s and What Benefits do employees of organizations get . solving different problems between labor and management. Etc. A practical field has been made in the matter .

3) ✅ Civil Law = Personal rights, lawsuits for damages, breaches of contract, etc. are taught in this law

4) ✅ Realest law = Real estate law teaches the various functions of property valuation, search records and property name transfer.

5) ✅ Patent Law = Different companies have their own logos. The logo has been patented so that no one can use it. The legal action taken against anyone who uses it is known by the patent law.

6) ✅ International Law =This law ensures that all agreements and customs laws between different countries are being followed properly. If not, what legal action is to be taken for this is learned by this law.

7) ✅ Corporate Law =This is a huge demand of the corporate sector in every country. The corporate sector has various legal problems. To solve these, it is necessary to know the corporate law. It is only learn by the corporate law.

8) ✅ Criminal Law = The legal law adopted against various criminal activities can be learned in criminal law. These include interviewing clients and questioning witnesses, preparing a defense case, and cross-examining in court.

What is Right Time For Learning Tally ?

2020-09-05T17:57:00.005+05:30

Tally is a Accounting Software . any one can do Accounting on Tally Cource . Separately, it has no age limit but you need a Basic knowledge of Goldan rules . Goldan Rules are following three type Of account.

1st is Real Account .

Real account = what assets come in is Debit and What Amount Paid for this is Credit.

Example :

1) Furniture Purchase By cash Rs .5000/- . Journal Entry is Given Below.

Particular

(Dr) Amount

(Cr) Amount

Furniture A/c ……………..Dr

To Cash A/c

5000

(Being Furniture Purchase by Cash )

Note:- What assets Come is Debit as like Furniture . What Amount Paid by Cash is credit

2nd is personal Account

Personal Account = Any Person can Take any Amount is Debit and Who person is given this amount or opportunity is Credit .

Example :

1) Ram paid Amount Rs.2000/- on Sham . Journal Entry is Given Below.

Particular

(Dr) Amount

(Cr) Amount

Sham A/c ……………….Dr

To Ram A/c

2000

(Being Ram Paid to Sham)

Note : Amount Giver person is Credit So Ram A/c Credit and Amount receiver Person is Debit As like Sham A/c .

3^rd is Nominal Account

Nominal account = Any Expenses and Losses are Debit and Any Income and gains are Credited.

Example :

1) Wages Expenses Paid By cash Rs.4000 .

2) Sale On Cash Rs.2000

Particular		Amount (Dr)	Amount (cr)
Wages Expense A/c ----------------dr To Cash A/c		4000	4000
(Being Wages Expeses Paid By cash )
Cash A/c-----------------------Dr To Sale A/c	2000		2000
(Being Sale On Cash )

Note: 1) Wages Expenses is a Nominal Account Expenditure are Increase Then Wages Expenses A/c Debit.

2) Sale is a Nominal Account Income are Increase Then Sale A/c credit.

It is possible with real experience what cannot be done with Educational knowledge. But it also True it is not possible to determine any qualification without a degree or knowledge .

So After Completed Class -11 You just Know basic Knowledge of Account Just like What Is Journal, Ledger, Trial Balance, Final Account , Ratio ..etc but account’s not a Small Thinks it is Larger than larger . Yes You can Do Tally after Completed Class- 11 But You are Not achieve a Big organization Job /corporate job . Basically any Small or Big Organization Look to you Education Level minimum Graduation clear and Your qualities for Job and One Big matter of Tally They are Change there Tally Version every Year .

So When you Completed Your Graduation Then it is Best Time For Learn Latest Version of Tally . It is Good For Your Career .

Which date of Bank published balance sheet?

2020-09-04T15:46:00.002+05:30

Which date of Bank published balance sheet?

All bank Published There Balance Sheet on 31 st March Every Financial Year . Balance Sheet is a mirror of any company .

It is the financial statement of a company which includes assets, liabilities, Balance sheet are divided two part Left site is called Assets and right site is called Liability.

Liability means = any type of risk or payable amount

Example :- Partners capitals , creditor , Bills Payable etc.

Assets it mean = assets is a resource with economic value ,its company own Assets.

Example :- Stock ,Furniture , Plant & Machinery .Bank balance etc.

Accounting Treatment in Balance Sheet

Any type of Expenses, Payable Amount, or Loss transfer to Liability Site on Balance Sheet

And Any type of Valuable Assists , Debtors ,stock ,profit ,cash or Bank Balance transfer to Assets Site on Balance Sheet .

Explanation of liability Side on Balance Sheet

Capital = The amount paid by the owner of the company or the partners of the company for business is called capital. No company can grow without capital. In fact, the owner of the company receives a dividend against of this capital.

Net Profit = Net profit is what we earn after deducting expenses and income tax from all the income of the company. The amount of profit is added to the capital. Again when expenses exceed all income. The result we then get is net loss. The amount of losses is always deducted from the capital.

Drawing = When the owner or partner of a company withdraws some amount from the company for personal use. This is called drawing. It is always excluded with capital

Interest On Capital= The amount of interest that is earned on the capital. This is called interest capital. It is added with Capital .

Interest On Drawing = The amount of interest that is earned on the Drawing. This is called interest On Drawing . It is Added with Drawing .

Long-term Loan & Debenture = Long-term Loan & Debenture they are Also Called Loan .Long Time Loan Taken is Called Long Term Loan .

Short –term Loan = Short –term Loan .Company Taken Any Loan for Short Time it is Called Short –term Loan .

Creditor/ Bills Payable = Creditors are those from whom we are purchasing but have not yet been paid.

B.com Courses Details

2020-09-03T14:10:00.006+05:30

B.com इसका फुल फॉर्म बैचलर ऑफ कॉमर्स है। कॉमर्स स्ट्रीम से 12 पास करने के बाद कैंडिडेट B.com से जुड़ सकते हैं। यह तीन साल का डिग्री कोर्स है। आप B.com पास या ऑनर्स कर सकते हैं। आमतौर पर जो उम्मीदवार कम से कम 50% और उससे अधिक अंकों के साथ 12 परीक्षा पास करते हैं। वे B.com ऑनर्स लागू कर सकते हैं। B.com honours और B.com Pass अधिक भिन्न नहीं हैं वे Syllable हैं समान अंतर B.com माननीय परीक्षा पेपर है B.com पास पेपर की तुलना में अधिक कठिन है। B.com माननीय लेखा प्रयोजन में विशेषज्ञ हैं। उम्मीदवार अकाउंट्स हूनोस या मार्केटिंग ऑनर्स आवेदन कर सकते हैं।

1^st year You Learn This Subjects

1) 1) Cost And Management

2) 2) Financial Accounting I

3) 3) Principles & Practice of Management

4) 4) Indian Financial System

2^nd Year You Learn This Subject

1) Business Economics

2) Financial Accounting II

3) Business Regulatory Framework

4) Direct Taxation

5) Business Communication & E-Commerce

6) Information Technology & its Business Application

3^rd Year You Learn This Subject

1) 1) Auditing

2) 2)Financial Management

3) 3) Business Mathematics & Statistics

4) 4)Financial Accounting III

After B.com Job opportunities in accounting Work field ?

2020-09-01T11:47:00.005+05:30

After B.com Job opportunities in accounting Work field ?

Many company are prefer accounts Background for requirement . Because any Business grow for his Accounts strong background . Accounts now are computerizes . So are you work accounts career you need to learn. how to work computerize accounting like as a Tally ERP 9 ,ERP Marg-9 , Busy , Tdsman, SAP etc Software .

B.com Job Opportunities area with Computer Knowledge (Fraser) Approx salary per year Rs.1,08,000/- to Rs. 1,20,000/-

1) junior Accountant

2) Medicine Stock accounts Maintaining .

3) GST and Tax-invoice Maintaining .

4) LIC agent

5) Store Keeper .

B.com Job Opportunities area with Computer Knowledge (5 and Above Experience ) Approx salary per year Rs.1,50,000/- to Above

1) Senior Accountat

2) Finance Executive

4) BANK Job

5) Taxation & GST JOB

6) Corporate Sector etc .

After completing B.Com to join a professional career such as chartered accountant, Cost accountant, company secretary, MBA in finance, LLB in taxation etc …… .. you will get a better job and higher salary.

Definition of Triple Column Cash Book (Hindi)

2020-08-29T12:31:00.008+05:30

एक कैश बुक एक तीन-कॉलम कैश बुक है जिसमें डेबिट और क्रेडिट पक्ष पर नकद, बैंक और छूट के रूप में दर्ज की जाने वाली राशि है। यह व्यापार के क्षेत्र में बहुत महत्वपूर्ण है क्योंकि तीन प्रकार के लेनदेन इस कैश बुक में एक साथ दर्ज किए जाते हैं।

तीन-स्तंभ नकद पुस्तक तालिका निम्न प्रकार की है

तीन-स्तंभ कैश बुक के ऊपर की तालिका लगभग दो-कॉलम कैश बुक तालिका के समान है, लेकिन दोनों पक्षों के लिए तीन कॉलम हैं। इस पुस्तक में नकद और बैंक लेनदेन को रिकॉर्ड करने की विधि दो-कॉलम नकद पुस्तक में रिकॉर्डिंग के समान है।नकद या चेक प्राप्त करने पर की गई छूट को कैश बुक डेबिट बॉक्स के डेबिट पक्ष पर रखा जाना चाहिए और भुगतान के समय प्राप्त छूट को कैश बुक क्रेडिट के क्रेडिट पक्ष पर रखा जाना चाहिए। यह ट्रिपल कॉलम बुक डबल कॉलम कैश बुक की तरह है।

ट्रिपल कॉलम कैश बुक के लाभ। (Advantages of Triple Column Cash Book )

एक व्यापार संगठन के मामले में एक-कॉलम और दो-कॉलम कैश बुक की तुलना में तीन-कॉलम कैश बुक में लेखांकन अधिक सुविधाजनक है।तीन-स्तंभ नकद पुस्तक के मुख्य लाभ हैं:

1. इन तीन कॉलम नकद पुस्तकों में एक डबल कॉलम कैश बुक के सभी लाभ उपलब्ध हैं।

2. नकद और चेक की प्राप्ति के साथ, दी गई छूट की कुल राशि और उस लेनदेन को समझना आसान है जिसके साथ डिस्काउंट जुड़ा हुआ है।

3. नकद भुगतान और चेक वितरण के साथ प्राप्त डिस्काउंट की कुल राशि को समझना आसान है और जिस लेनदेन के साथ डिस्काउंट जुड़ा हुआ है।

4 .कैश ट्रांजेक्शन से जुड़ी सारी जानकारी इस कैशबुक से उपलब्ध है।

5.इस पुस्तक का उपयोग करने के परिणामस्वरूप, प्रत्येक छूट के लेन-देन को रिकॉर्ड करने के लिए आवश्यक नहीं है, उन्हें केवल संबंधित खाता बही में ध्यान में रखा जाता है।

What Document need to Check for Balance Sheet

2020-08-28T12:33:00.009+05:30

As a Seller What Document need to Check for Balance Sheet.

The balance sheet is a mirror of a business. Any kind of financial decision is taken after looking at the balance sheet. The balance sheet is important but more than important is to verify the balance sheet documents . Which document need to check are Given Below .

Check list For Balance sheet

1) At first Check almost previous 5 year Balance Sheet .

2) Check Original tread license

3 ) Check Pan Card , Adhere and Voter Card of tread license holder .

4) Goods and Services Tax Certificates and Goods and Services Tax Application Documents should be looked at carefully .

5) Check Any type of Loan taken against from Balance Sheet.

6) Every ledger Account on Show Balance Sheet Opening Balance Check Sincerely .

7) Inspect the cash balance sincerely and check if the cash limit of the Income Tax Act is being followed .

8) The bank accounts shown on the balance sheet. They need to check their document Carefully .

9) Any Type of Investment shown on Balance sheet . Check they are term & condition and Maturity Date

10) See what percentage of all liabilities have been paid. Good For At least 50 percent should be paid.

11) See what percentage of the balance of the debtors is outstanding.

12) How many stocks are mentioned in the balance sheet? Try to check that stock directly.

13) It is important to check whether any lease godown agreement and any other arrears have been paid.

14) It is important to check if there are any legal issues with the business.

15) See also Time to time Good and Service Tax and Income Tax paid Documents At least 5 years .

16) Check Any type of loan Taken For Business and how much amount Repayment for Loan.

Employee & Accounts Records Benefit

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A lot of benefit taken to Employee. Not only the employees but also the owners take advantage of it . we know any strong business root created by Accounts . Accounts is a mirror of a company . Accounting plays a big role in implementing big business plans.

Employee & Accounts Records Benefit

1. Calculation for salary very easy.

2. Wages calculation for hourly recorded easily .

3. They are quick know how many leave taken to employee.

4. Right overtime calculation and time save proses.

5. Every time awareness Bank and Cash Balance .

6. Computer Accounts Easy Maintain Stock .

7. The amount of error is low.

8. Any type Accounts mistake quick rectify .

9. Not Loss any Amount transaction details for long time .

Single Entry System Vs Double Entry System

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Accounting System are divided into two part . 1^st Single Entry system and 2^nd Double Entry system .

1) Single Entry System = A single entry system of accounting is a form of accounting that is recorded as a single entry of a log in each of the financial transactions. This process is commonly used by new small businesses due to its simplicity and cost effectiveness.

2) Double Entry System = Double-entry is the Simple equation asset = liability + owners' equity following the accounting concept. In the double-entry system, transactions are recorded in terms of debits and credits.

Difference Between Single Entry System Vs Double Entry System

*Single Entry System*		*Double Entry System*
*A single entry system of accounting is used by very small businesses.*		*Double Entry System of accounting is used by medium and big businesses .*
*Single Entry System not need any Software .*	*Double Entry System need costly Software .*
*Single Entry System is not easily found any Error .*	*Double Entry System is easily found any Error quick .*
*Tax authorities do not recognize single entry systems for any reporting purposes.*	*Tax authorities do recognize Double entry systems for any reporting purposes.*

So the information given by the double entry system is more

reliable comparison to Single Entry System .

Details of cash salary

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Details of cash salary

Any repotted or ISO certified Company not treated any Cash as a salary .

It is Only rezone it is hide your Income for (Indian) income tax department .

Which case Not allow cash Transaction

(i) payment in cash above Rs. 10,000 to any person in a day shall not be allowed as deduction in computation of Income.

(ii) Any Company have More than 10 employee they are Not allow cash Salary As per PF and ESI Rule. They are Salary Pay by Bank Account Only .

(iii) Cash transaction salary is not allowed unless any revenue stamp is paid for any amount above Rs.5000 / - .

English Honours Vs Accounts Honours

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Accounting is the process of recording financial transactions. It is a knowledge give you handling of any company Accounts book-keeping . Other side English is just a Language.It help to communication.

Compare English vs Accounts career opportunities

After complete English Graduation Best for teaching, communication organization, news reporter, reception, etc..

After completed Accountancy Graduation with computer Accounts course best for junior accountant, tax- consultant , Auditor , cashier , Bill operator, only Accountancy give you professional career like as a Chartered accountant ,Cost Accountant ,company secretary And MBA ,

Anyone can do MBA . Both English Graduate or Accounts Graduate after clear CAT or MAT Exam They Can do MBA but basically Accounts Graduation Do MBA in Finance and English Graduation Do MBA in HR .

It is practical fact Accounts Graduation is better compare to English Graduation . you have more opportunities for job or higher study and good for your salary scale .

But it is remember Good accountant career possible with Good English communication. Because communication is a powerful Weapon.