Due dates of TDS return for assessment year 2017-18 onwards, is now same for Govt. and Non-Govt. entities as follow:

For 1st Quarter (Apr-Jun) - Within 31st July.
For 2nd Quarter (Jul-Sep) - Within 31st October.
For 3rd Quarter (Oct-Dec) - Within 31st January.
For 4th Quarter (Jan-Mar) - Within 31st May.

In this video TDS is demonstrated step by step using tally ERP 9. Please watch the video till the end to learn the same. A chart including all TDS nature of payment with their relevant section, payment code & tax rate also given below:

TDS NATURE OF PAYMENT CHART

Tax Deducted at Source or simply TDS is an tax imposed on income, which unlike normal assessment, deducted from the source of assessee's income by a deductor, and the deductor will become liable to pay the deducted tax to the government behalf of the assessee.

The deductor shall also issue TDS certificates to the assessee in Form 16 (for employer) or Form 16A (for all other than employer).

Although, if the assessee fallen under nill/lower tax bracket, then he/she is entitled to claim a refund for the tax, he/she already paid in excess of the payable amount, simply by filling an annual income tax return along with all TDS certificates received from the deductor.

• For manufacturer & traders: 0.5% CGST + 0.5% SGST
• For supplier of foods & drinks for human consumption (Other than alcohol): 2.5% CGST + 2.5% SGST

As the biggest fiscal reform in taxation India ever had, GST implied with various impacts over Indian economy. Out of them, five major impacts are

1. GST impact on interstate business.
2. Impact over Documentation
3. GST impact over Tax Evasion
4. GST impact over Cascade tax.
5. GST impact over common man.

Watch a short introduction to Goods and Service Tax.

Tally ERP9 have a interacting calculator which you can use by pressing Ctrl + N. You can easily find Cash balance, profit or Loss or any other ledger balance by just typing the name. For more details please watch the video 🎬

In Tally ERP 9 you can use calculator in two way. Either you can use simple calculation or Online Calculation. 



To calculate in simple mode: Open calculator by pressing Ctrl + N > Make your calculation and remember the output > Close calculator by pressing Ctrl + M > Put the amount in the correct field.

To calculate in online mode: Make sure your selection is in the correct field where you want the result > Press Alt + C >   Make your calculation (in this case you are not required to remember the output) > Press Enter

Tally have a interactive calculator, hence you can also use it other than calculation purpose, I will make it clear in my next post.

In Tally ERP 9 you can you can manage all your trading inventories in deferent groups and categories. You may also wish to maintain multiple godowns. In this post I am going to show you uses of these elements.