Tally 9.0 Indexsaintangelos.com/studentdesk/Download/Tally_Notes.pdfTally 9.0 St.Angelos Computer Education 6 In the above manner we have to apply the service tax to a particular creditor

Tally 9.0 St.Angelos Computer Education

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Tally 9.0 Index

Sr.No Topics Page No.

1 Service Tax 2 - 15

2 Tax Collected At Source (TCS) 16 - 24

3 Fringe Benefit Tax (FBT) 25 - 32


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Chapter No.1 - Service Tax

Service Tax is applicable on the Purchase and Sales of the product .for which the tally has given us a user friendly interface wherein the user can enter the details of the service tax and remove the challan out of the tally. Enable Of Service Tax: Select your Company Features. On Company Info menu Click on F11, wherein you have to click on the Statutory & Taxation and enable the Service tax option.

When you click on the Statutory & Taxation you will be able to enable the Service tax.

On enabling the Service tax you will have to enter details of the registration and the tax


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details.

The Fields in the above screen are as follows:

• Service Tax Registration No: It is the Ten digit number • Date of Registration : wherein the date of the service tax applicable is

been give by the government • Assesses Code: This is the code number through which we have the • Type of Organisation: In this we have to specify that what is the firm

of • Major Service Category Name: In this we have to specify what the firm

is working for • Credit Adjustment(%):In this we have to give the credit limit • Focal Bank code : This code is give by the bank • Focal Bank Name: This is the bank name from where we will pay the

service • Focal Bank Address: The address of the bank

Ledger Pertaining to Service Tax The Ledger that are affected by Service Tax are

• Sales Ledger • Purchase Ledger • Party Ledger(Sundry Debtors/Creditors) • Duties & Taxes

Ledger Creation: Example 1: Creating Sales Ledger (with enabled service Tax): Perform the following steps to create the sales Ledger Step 1: Gateway of TallyAccounts InfoLedgerSingle Create Instantly a Ledger Creation screen gets displayed. Step 2: Fill in the information in this screen to create Sales Ledger.

Type in the name of the service in the Name Field For e.g.Mtnl under the Sundry Creditors for which we will pay the service tax


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Type Yes against the field Is Service tax Applicable?

In the same way we can insert the sundry Debtors For example we can the see the

Now we have to create the service tax ledger Creating the Service Ledger. So we have to follow the following Steps.


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Step 1 Gateway of TallyAccounts InfoLedgerSingle Create After this we have to enter the Ledger Details as follows i.e. Step 2 Fill in the information in this screen to create i.e. for Telephone Exp under Duties Tax Step 3 After giving the description we have to give the category name wherein we have to specify the service tax applicable.

Voucher Entry when Service Tax is Enabled Example 1: Purchase Ledger We have Mtnl from whom we are purchasing the Telephone Service and for which we have to pay the Service Tax. The purchase voucher will be seen in the below. Gateway of TallyAccounting VouchersF9: Purchase


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In the above manner we have to apply the service tax to a particular creditor .Now it is the Debtor on which we have to apply the service tax.

After applying the tax we have to do the payment of the Mtnl tax and also get the receipts of the Debtors so we are passing the receipts and payment voucher wherein we will come to know that how much the tax is payable. Gateway of TallyAccounting VouchersF5: Payment Wherein we will do the payment of the service tax which we have to pay. For the following way the output we can see here we have to do the payment of the tax payable in the company.


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Where we are Dr the creditors and then we will be crediting the Debtors for the tax to be received so now we will pass the receipt entry. Gateway of TallyAccounting VouchersF6: Receipt

After passing all the entries we will be able to see that how the tax is been deducted and how the reports can be generated, for which we have to go to the Statutory reports. Gateway of TallyDisplayStatutory ReportsService tax ReportsInput Credit Form


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In this we will find the tax payable by our company the output will be as follows.

After this we want to take out the print command than the we have to just click on the print command wherein we will able to give the reports to the Government or to the bank from where we are paying the tax In the same way we how much we have to pay the tax than we can just go to the following path Gateway of TallyDisplayStatutory ReportsService tax ReportsService Tax Payable


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In this way tally 9 has given the provision to pass the entries easily and form here itself we can get the Challan also filed. The Service tax is also applicable on the hardware materials and the vendors so we have the following example. Wherein we will have to create the Vendors Ledger and also to whom we are selling the computer hardware materials and on which we will have to pay the service tax. So first we create the Ledger of the vendor, the following step we have to follows. Gateway of TallyAccounts InfoLedgerSingle Create Before we enter the entries we will have to apply the service tax and then we will enter the ledger entries of the creditors and debtors


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In the above ledger entries we will see that we have taken some vendor from whom we have taken the hardware materials on which we have to pay the service tax. Now when we have entered the Creditor name we will create the Debtor.

After entering the creditors and the debtors we will enter the we will enter those ledgers which we will pass the service tax.


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This ledger will help us to include in the paying of the service tax. Against the vendor and after which we will have to enter the service tax payable of the Debtors.

After entering all the ledger we will have to enter the vouchers, for which we will have to follow some steps. Gateway of TallyAccounting VouchersF9: Purchase


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In this we will have to enter the voucher in the sales and purchase after which we will come to know how much we have to pay the service tax, so the following voucher have to be used.

Gateway of TallyAccounting VouchersF8: Sales And the next voucher will be the passing the sales voucher.

So in this we way we come to know that how much we have to pay the service tax and on what basis, so after the passing of the sales and purchase voucher will now pay the tax and remove the tax challan. For which we have to follows the following steps.


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Gateway of TallyAccounting VouchersF6: Receipt So the voucher will be as follows.

In this we will come to know that we will have to pay of the service tax against the sales from the Debtors. After this we will have to pass the service tax for the Creditors, inshort we are going to pay the service tax Gateway of TallyAccounting VouchersF5: Payment


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In this we will have to pass the entries for the service tax payable and after finishing the passing of the vouchers we will be able to check whether the tax will be payable and the challan, for which we will have to follow the following step. Gateway of TallyDisplayStatutory ReportsService tax ReportsInput Credit Form

After this we want to take out the print command than the we have to just click on the print command wherein we will able to give the reports to the Government or to the bank from where we are paying the tax In the same way we how much we have to pay the tax than we can just go to the following path Gateway of TallyDisplayStatutory ReportsService tax ReportsService Tax Payable


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In this way tally 9 has given the provision to pass the entries easily and form here itself we can get the Challan also filed. In this we can apply tax on any of the good which we are purchasing or doing sales. In this we way we come to know that the 9.0 is very useful for the service tax payable.


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Chapter No.2 - Tax Collected At Source(TCS)

In this tcs is deducted on the debtors for e.g on the machniery scrap.It is tax which is collected on the source,This is newly been introduced by the government that we have to collect the tax on the Liquor,scrap,for forest Produce,for parking a allotment etc.On this various things the govertment at laid up tax on this.We will see how to add up the tax on the TCS. First we have allow the statutory & Taxation to be yes,after which we have to apply the TCS on the company,that is as follows

After which we have to provide the necessary information abput the company and the accessment nujber the ward under which we have the authority an also the person responsible fro the deuction of the tcs we have to be very carefull whcile entering the details as these details will have to be registered.

In this we have to fill the details,afetr which we have to pass the Ledger account in the tally where in we will have apply the tcs on the debtors and so on. So now we will enter the Ledger account fro which we have to go to the Accounts Info,wherein we will enter the Debtors,TCS to be applicable on,and


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what goods are to be sold to debtor.So we will see how too enter the Ledger wherein we will have to enter the Debtors name and also will have to see that the tcs is been applicable or not as followin fig can show you what excatly it been said

when you enter the debtor and when we see that the the tcs is applicable that time it will ask you for the TCS Details and aslo the debtors Collectye that the debtors is under which group of person.That is in the following fig we have explained what exactl we mean.


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After the Debtor is been created then we will create the TCS Ledger,so for that we will have to enter the details as follows in which we have enter the TCS on which we have to deduct and it willcome under the duties and tax and then when we apply the deductee type so we can the following fig wherein we will see the TCS Ledger entry.

So in the fig we can see tat how to enter the TCS Ledger and the Product on which we will deduct the tcs. So now after creating the Ledger we will create the create the vouchers in the Sales on which the tcs will be created .So first we will create the Sales voucher. So we will go to the Sales Voucher in F8 wherein we will enter the voucher in the invoice format.


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In this we can see that we have entered the Sales voucher in order to find out how much TCS we have to pay on the scrap of the machniery Now after the entering the sales voucher we have to pay of the TCS and we will then print the challan.For which we have to enter the payment voucher in F5 that is payment voucher, for which we will enter the voucher with the help of the TCS Helper i.e. ALT+R Wherein we will have to enter the TCS on Scrap directlywe don’t have to enter the details just we have to enter the date till we have to pay the TCS and which company we belong to

The above will be seen in the tally as you click the ALT+R,Then we can enter the just normal voucher that is as follows.


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In this way we can pay of our TCS and now the challan we have to print for which we have to go to the DisplayStatutory Reports .In which we can take the prinout of the challan. In this the tally 9.0 have introduce the TCS wherein we have to pay the tax on the Sources which we collect from the Debtors. In this we will be applying the TCS i.e. Tax collected at the source.Now the tax can be applied on any of the Debtors for e.g. it the debtor have the Liquor business or else forest business we can apply the tcs on the debtor,For which we have already done with one of the example so we will see with the new example. First we have allow the statutory &Taxation to be yes,after which we have to apply the TCS on the company,that is as follows


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.

After which we have to provide the necessary information abput the company and the accessment nujber the ward under which we have the authority an also the person responsible fro the deuction of the tcs we have to be very carefull whcile entering the details as these details will have to be registered.

In this we have to fill the details,afetr which we have to pass the Ledger account in the tally where in we will have apply the tcs on the debtors and so on. So now we will enter the Ledger account fro which we have to go to the Accounts Info,wherein we will enter the Debtors,TCS to be applicable on,and what goods are to be sold to debtor.So we will see how too enter the Ledger wherein we will have to enter the Debtors name and also will have to see that the tcs is been applicable or not as followin fig can show you what excatly it been said


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After the Debtor is been created then we will create the TCS Ledger,so for that we will have to enter the details as follows in which we have enter the TCS on which we have to deduct and it willcome under the duties and tax and then when we apply the deductee type so we can the following fig wherein we will see the TCS Ledger entry.

So in the fig we can see tat how to enter the TCS Ledger and the Product on which we will deduct the tcs.


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So now after creating the Ledger we will create the create the vouchers in the Sales on which the tcs will be created .So first we will create the Sales voucher. So we will go to the Sales Voucher in F8 wherein we will enter the voucher in the invoice format.

In this we can see that we have entered the Sales voucher in order to find out how much TCS we have to pay on the scrap of the machniery Now after the entering the sales voucher we have to pay of the TCS and we will then print the challan.For which we have to enter the payment voucher in F5 that is payment voucher, for which we will enter the voucher with the help of the TCS Helper i.e. ALT+R Wherein we will have to enter the TCS on Scrap directlywe don’t have to enter the details just we have to enter the date till we have to pay the TCS and which company we belong to


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In this way we can pay of our TCS and now the challan we have to print for which we have to go to the DisplayStatutory Reports .In which we can take the prinout of the challan. In this the tally 9.0 have introduce the TCS wherein we have to pay the tax on the Sources which we collect from the Debtors. In this we will be applying the TCS i.e. Tax collected at the source.Now the tax can be applied on any of the Debtors for e.g. it the debtor have the Liquor business or else forest business we can apply the tcs on the debtor,For which we have already done with one of the example so we will see with the new example. First we have allow the statutory & Taxation to be yes,after which we have to apply the TCS on the company,that is as follows In order to view the TCS or for the printing of the TCS challan we will have to follow the following path: DisplayStatutory ReportsTCS Reports After which we can just take out the printout.


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Chapter No.3 - Fringe Benefit Tax (FBT)

This is tax which is to be paid to the government by the company against the facilities given to the employees. Hence the FBT is recommended. Enabling the Fringe Benefit Tax (FBT) On Company Info menu click the F11 features button F11Statutory & Taxation after clicking on the you have the following screen

You have to enable the FBT so that you apply the tax on the facilities given to the employees from the company. After this we have to pass the Ledger accounts of the services. Gateway of TallyAccounts InfoLedgers First we will enter the Telephone Exp and the FBT Ledger account Gateway of TallyAccounting InfoLedgerCreate In this we will create the Telephone Exp under duties on tax

And also the FBT Ledger which is as follows:


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After which we have to enter the Voucher entries. So for which we will have to the follow Gateway of TallyAccounting VouchersF7: Journal Vouchers In the this following voucher we will insert the Telephone Exp in the Dr and the FBT in the Cr wherein we have to pay the tax on this particular facilities


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Now after the Journal entry we have to do the payment of the telephone exp so what is the Fringe Benefit Tax to be paid can been known when we pass the payment entries for which we will have to go to the payment voucher Gate of TallyAccounting VouchersF5: Payments When we will add the voucher in the payment then we have set the configuration also on wherein we will set the

Wherein we will be able to alter the FBT, after this we will have to enter the voucher details wherein we will have to set the FBT helper on so that we will come to know about the tax to be paid, which we can see in the following screen

When you click on the Alt+F wherein the FBT helper will calculate the tax and show us the amount for how much the tax is to be paid, if you want to show the reports of the Fringe Benefit Tax or you want to get the print out we can view them in the following manner DisplayStatutory ReportsFBT ReportsFBT Computation Here we will come to know that how much the tax is been applicable and how much we have to pay


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When you click on the Use of Telephone then you will come to know that how much tax is applicable

In this way tally 9 is giving the facility to know that what type of expense are been made on the employees by the company and also what is the tax to be paid on the expenses In the above example we saw now the tax is been charged on the expenses paid to government by the company. This is tax which is to be paid to the government by the company against the facilities given to the employees. Hence the FBT is recommended. Enabling


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the Fringe Benefit Tax (FBT).On Company Info menu click the F11 features button F11Statutory & Taxation after clicking on the you have the following screen

You have to enable the FBT so that you apply the tax on the facilities given to the employees from the company. After this we have to pass the Ledger accounts of the services. Gateway of TallyAccounts InfoLedgers First we will enter the Telephone Exp and the FBT Ledger account Gateway of TallyAccounting InfoLedgerCreate In this we will create the Accommodation under duties on tax

And also the FBT Ledger which is as follows:


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After which we have to enter the Voucher entries. So for which we will have to the follow Gateway of TallyAccounting VouchersF7: Journal Vouchers In the this following voucher we will insert the Accommodation in the Dr and the FBT in the Cr wherein we have to pay the tax on this particular facilities


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Now after the Journal entry we have to do the payment of the telephone exp so what is the Fringe Benefit Tax to be paid can been known when we pass the payment entries for which we will have to go to the payment voucher Gate of TallyAccounting VouchersF5: Payments When we will add the voucher in the payment then we have set the configuration also on wherein we will set the

Wherein we will be able to alter the FBT, after this we will have to enter the voucher details wherein we will have to set the FBT helper on so that we will come to know about the tax to be paid, which we can see in the following screen

When you click on the Alt+F wherein the FBT helper will calculate the tax and show us the amount for how much the tax is to be paid, if you want to show the reports of the Fringe Benefit Tax or you want to get the print out we can view them in the following manner DisplayStatutory ReportsFBT ReportsFBT Computation Here we will come to know that how much the tax is been applicable and how much we have to pay


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In this way tally 9 is giving the facility to know that what type of expense are been made on the employees by the company and also what is the tax to be paid on the expenses

Tally 9.0 Indexsaintangelos.com/studentdesk/Download/Tally_Notes.pdfTally 9.0 St.Angelos Computer Education 6 In the above manner we have to apply the service tax to a particular creditor

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