Upcoming Releases on 01st July, 2013

Indian Taxation

Tax Deducted at Source  :

  • E-TDS Validation tool support will be provided.
  • E-TDS Nil Return support will be provided.

 

VAT

 

Arunachal Pradesh :

  • The e-filing facility for Annexures will be provided as per the requirements

Delhi :

  • The Annexures 30A & 31A will be provided as per the latest amendments. Also the Form DVAT 17, Annexure 2A for composite dealer will be provided as per the latest amendments

Jharkhand :

  • The e-filing facility for Annexures will be provided as per the requirements

Puducherry :

  • The VAT Annexures will be provided as per the requirements.

Uttar Pradesh :

  • The revised eCST return will be provided as per the requirement

 

Notify me, when ready »

Available new stat 198 from 28th June, 2013

New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

Excise for Dealers :

  • The E-Return menu is provided with menu options for Validations, Export of data in XML format and Print.
    In case where ECC Number and Sales Voucher Number are not provided or are incorrect, the same will be listed as error in the E-Return Validations screen which can be rectified using the drill-down facility. If the data is exported without providing correct details required to fill the mandatory fields, the message – Validation is incomplete!!! will be displayed with
    the provision to enter the correct information.
  • The supplier invoice date entered in excise purchase invoice will be captured in Supplier Invoice Date field of Excise Details screen displayed for the selected excise stock item

Excise for Manufacturers :

  • The E-Return menu is provided with menu options for Validations and Export of data in XML format.
    In case where ECC Number is not provided or is incorrect, the same will be listed as an error in the E-Return Validations screen which can be rectified using the drill-down facility. If the data is exported without providing correct details required to fill the mandatory fields, the message – Validation is incomplete!!! will be displayed with the provision to enter the
    correct information.
  • The service tax input credit on Reverse Charge is captured under Details of CENVAT credit taken and utilised section of Form E.R.-1.
  • The facility is provided to print GAR 7 challan from voucher display screen.
  • Page number is captured on each page of RG23A and RG23C Part I Tariff-wise report.

Payroll :

  • As per notification the changes in Form ITR-1 have been incorporated.

Service Tax :

  • GAR 7 challan can now be exported in PDF, JPEG, Excel Spreadsheet and HTML formats.

Tax Deducted at Source :

  • For payments made to NRI or foreign companies, the changes in Surcharge rates on TDS are incorporated.

 

VAT :

Delhi :

  • The default print orientation is set to Landscape for Annexures 2A, 2B, Form DVAT 30 and 31 for better user experience

Gujarat :

  • The data of Form 402 can now be exported in Excel Spreadsheet and PDF formats.
  • The e-VAT functionality is enhanced with the facility to export data of Form 205 to the template – VAT_RET_205_Yearly_new.xls.
  • The functionality of physical Form III(B) is enhanced as per the functionality provided for e-CST Form III(B).
  • The value of entries recorded using VAT/Tax classifications provided for works contract are supported in Form 201 and 205.
  • On selecting the VAT flags – Adjustment Towards CST and Reverse Credit on Others, the date fields – From and To will be displayed to enter the period for which the entry is recorded.

Kerala :

The following VAT/Tax classifications are provided to account for transactions with special category dealers.

  • Input VAT @ 0.5% (Spl.Category) / Purchases to Spl. Category Dealers @ 0.5%
  • Input VAT @ 10% (Spl.Category) / Purchases to Spl. Category Dealers @ 10%
  • Input VAT @ 2% (Spl.Category) / Purchases to Spl. Category Dealers @ 2%
  • Input VAT @ 2.5% (Spl.Category) / Purchases to Spl. Category Dealers @ 2.5%
  • Input VAT @ 6.25% (Spl.Category) / Purchases to Spl. Category Dealers @ 6.25%
  • Input VAT @ 6.75% (Spl.Category) / Purchases to Spl. Category Dealers @ 6.75%
  • Input VAT @ 7.25% (Spl.Category) / Purchases to Spl. Category Dealers @ 7.25%

The values of entries recorded using these VAT/Tax classifications are captured in Form No. 10.

  • Form No. 9 format is supported for debit notes and credit notes.
  • The value of entries recorded using VAT/Tax classifications provided for purchases made within the state at 14.5% VAT rate are captured in Form No. 52.

Madhya Pradesh :

  • The Return Form 10 is enhanced as per the latest amendments.

Maharashtra :

  • New VAT flag – TCS Adjustment is provided in journal voucher. The value of entries recorded using this VAT flag will be captured as the amount of tax collected at source u/s 31A in Form 231 and 233.

Odisha :

The following new VAT/Tax classifications are provided for 50% VAT rate.

  • Input VAT @ 50% / Purchases @ 50%
  • Interstate Purchases @ 50%
  • Transfer of Rights Inward @ 50%
  • Output VAT @ 50% / Sales @ 50%
  • Output VAT @ 50% on Transfer of Right to Use / Sales @ 50% – Transfer of Right to Use
  • Consignment Transfer Outward of 50% Taxable Purc
  • CST @ 50% / Interstate Sales @ 50%
  • Purchase Tax @ 50%
    The value of entries recorded using the aforementioned VAT/Tax classifications will be captured in respective fields of Form VAT 201, VAT Annexures – I and II, CST Form I and CST Annexures.

The VAT and CST Forms, both physical and e-returns, are enhanced as per latest statutory requirements.

Punjab :

  • The Worksheet 4 of e-return – Form VAT 15 is supported.

Tamil Nadu :

  • The Annexure -IA is provided as per the latest amendments.
  • The e-VAT feature is enhanced to support export of Form W data in Excel Spreadsheet format to the template file.
  • In the Print Report screen of VAT Annexures, the option – Round-off Values is provided. On setting this option to No, the row – Rounded-Total will be displayed with values roundedoff to the nearest rupee below the Total row.

 

And more….
Release details of Stat.900 version 198 (PDF file)

Download Stat 198

Tally Awareness Camp

 

Tally Awareness Camp

 

 

Tally Awareness Camp is our way of proactively reaching out to you to show that we care! We understand that you have invested your hard earned money in us and we constantly work towards providing you the maximum value for it.

In a Tally Awareness Camp, a Tally Expert comes down to your city and meets you in an interactive session where he takes you through the latest modules and features of Tally.ERP 9. Over and above the seminar, he also guides you through the implementation steps and the best way to use different features in Tally.ERP 9 via. live demonstrations.

Tally Awareness Camp also gives you the unique opportunity to clarify all your doubts, right then and there at the event!

Register yourself for the next Tally Awareness Camp in your city & Do More with your Tally.ERP 9!

 

Upcoming Events

26-Jun-13 Tally Awareness Camp
Nagpur – Maharashtra
27-Jun-13 Tally Awareness Camp
Bhilai – Chhattisgarh
28-Jun-13 Tally Awareness Camp
Bilaspur – Chhattisgarh
01-Jul-13 Tally Awareness Camp
Ranchi – Jharkhand 
18-July-13 Tally Awareness Camp
Kurnool – Andhra Pradesh

What’s New in Tally.ERP 9 – Auditors’ Edition

The highlights of this release are listed below :

Audit Working Papers

In a live audit scenario, Auditors have to manually record their comments. The Audit Working Paper (AWP) feature in Tally.ERP 9 Auditors’ Edition eliminates this manual-entry.

Track Transactions on Holidays & Weekly Offs

Auditors can now check for transactions which are entered by the client on holidays (weekly offs- viz., Sunday & National/State/Bank Holidays).

Inter Bank Transfers

This feature provides visibility to fund transfers from one Bank to another, allowing the Auditor to investigate frequent instances.

Unadjusted Advances

The Unadjusted Advances feature gives an overall report of the status of ledgers having pending advance receivables.

Highest & Lowest Value Transactions

Transactions of any kind can either be consistent or near – consistent over a period of time; they should not fluctuate wildly. This feature allows Auditors to analyse the top High and/or Low ‘X’ (eg: 5 or 10) number of transactions.

Accounts squared off during the year

This feature in Tally.ERP 9 Auditors’ Edition will help the Auditor track transactions which do not have an opening balance or a closing balance, i.e. balances which are squared off in the financial year.

Checklist of Accounting Standard (AS) Compliance

The Checklist of Accounting Standard (AS) Compliance feature in Tally.ERP 9 Auditors’ Edition lists all the standards as per the Accounting Standards Board (ASB); Auditors can check if their clients comply.

Checklist of Audit & Assurance Standard (AAS) Compliance

Tally.ERP 9 Auditors’ Edition provides a complete list of Audit & Assurance Standards (AAS). These benchmarks are used to measure the quality and the objectives achieved in audits.

Percentage report of sample size for substantive test

The Percentage Report dashboard in the Auditors’ Edition provides a list of vouchers sampled along with the percentage of the sampling methods adopted for each of them.

Cash Withdrawals/Deposits to Bank

Cash Withdrawals and Deposits are scrutinised based on their respective dates recorded in the books. Tally.ERP 9 Auditors’ Edition helps Auditors track and review irregularities in such transactions.

Stale Cheques/Instruments

When cheques have not been deposited into the Bank or not cleared within a specified time-frame, they are called Stale Cheques/Instruments. Tally.ERP 9 Auditors’ Edition introduces this feature which lists all such instruments for the purpose of scrutiny by the Auditor.

See the complete release notes here.

Click here for download

Tally.ERP 9 Series A Release 4.61 4th June, 2013

The new Tally.ERP 9 Release 4.61 is available now!

FREE for all users of Tally.ERP 9.*

Tally.ERP 9 is the latest offering of the Tally software series. As with all Tally products, rapid updates are made available for the lifetime of the product via periodic releases, thereby providing the high level of business capability that millions of users trust. This migration is recommended for all Tally 9 licenses.

New Features :

Performance :

  • The time taken to display TDS Details screen while recording a Journal Voucher has been reduced.

Functional Enhancements :

TDS :

  • In adherence to the amendment made to Finance Bill 2013, section 206AA is not applicable for section 194LC w.e.f 01.06.2013, implying whether or not a deductee’ s PAN is furnished in the Party master, TDS on Income From Foreign Currency, Bonds Or Shares of Indian Company will be deducted at the normal rate (5%)

 

The highlights of this release are listed below :

Tax Deducted at Source

  • In adherence to the amendments made to Finance Act 2013, tax deduction at the rate of 5% for 194LC is supported for the Nature of Payment Income From Foreign Currency, Bonds Or Shares of Indian Company irrespective of whether or not PAN         for the deductee is specified in the party ledger

Maharashtra – Local Body Tax

  • To support printing of Registration details specific to Local Body Tax in invoices, the facility to enter the same in the Company and Ledger master level has been provided

Tally.ERP 9 Feature Summary:

  • Quick to install and allows incremental implementation
  • Easy to customise
  • Powerful remote capabilities to boost collaboration
  • Audit & compliance services
  • Integrated support centre
  • Security management
  • Statutory processes
  • Manufacturer’s excise
  • Payroll

 

Click here for release notes

Click here for download

Available new stat 197 from 4th June, 2013

New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

TDS :

The following new Natures of Payments applicable from June 1, 2013 have been provided

  • Income by way of interest on certain bonds and Government Securities.
  • Payment on transfer of certain immovable property other than agricultural land.

 

VAT :

Delhi :

  • If there are more than one TIN for a party ledger, then the transaction details will be captured in separate rows of Annexure 2A and 2B based on the TIN entered in Party Details screen of the invoice.
  • As per statutory requirements, the Annexure 2C for details of debit/credit notes related to Purchases has been provided.
  • As per statutory requirements, the Annexure 2D for details of debit/credit notes related to Sales has been provided.

Maharashtra :

  • The e-VAT feature is enhanced to facilitate export of data to the excel template – Form 501 – the Application for refund under section 51 of the Maharashtra Value Added Tax Act, 2002
  • The physical Annexures J1 and J2 are provided as per e-VAT Annexures J1 and J2.
  • Tally.ERP 9 has initiated to support Local Body Tax by providing the facility to enter and print Registration Details. Users can now enter registration details in Company masters and Ledger masters and print the same in invoices along with the declaration

Tamil Nadu :

  • The VAT Form I and Annexures I and II are enhanced as per the latest statutory requirements.

Uttar Pradesh :

To account for the reduction in VAT rate from 50% to 25% on cigarettes, the following VAT/Tax classifications are provided:

  • Input VAT @ 25% / Purchases @ 25%
  • Purchases @ 25% (Non VATable)
  • Purchase From URDs – Non Taxable Goods @ 25%
  • Purchase From URDs – Taxable Goods @ 25%
  • Input Tax Credit on Purchase From URDs @ 25%
  • Interstate Purchases @ 25%
  • Output VAT @ 25% / Sales @ 25%
  • Output Tax @ 25% (Non VATable) / Sale @ 25% (Non VATable)
  • Output VAT (Retail) @ 25% / Sales Retail @ 25%
  • Output VAT (Retail) @ 25% (Non VATable) / Sales Retail @ 25% (Non VATable)
  • Purchase Tax @ 25% (Non VATable)
  • CST @ 25% / Interstate Sales @ 25%
  • The value of entries recorded using the aforesaid classifications will be currently captured
  • only in VAT Computation report.

Note: In the forthcoming Stat.900 releases, the functionality will be enhanced to capture the value of entries recorded using VAT/Tax classifications provided for 25% VAT rate in VAT Forms.

And more….
Release details of Stat.900 version 197 (PDF file)

Download Stat 197