New GST rollout date will be known in April 2010

It is official. The much-anticipated Goods and Services Tax (GST), which will replace most of the indirect taxes levied by the Centre and states, will not be introduced from the targeted date of April 1. The Bills pertaining to the introduction of a new law and amendment to the Constitution will not be tabled in the coming Budget session of Parliament. Finance Minister Pranab Mukherjee and state finance ministers will meet in April to decide a new date for the GST rollout.

For the first time, Asim Dasgupta, head of the empowered group of state finance ministers, clearly stated that the April 1deadline would not be met as arange of issues were to be resolved first before introducing GST.

"Because of the difficulties connected with the passing of the required constitutional amendment Bill in the Budget session, it will not be practical to introduce GST from April 1. A date will be settled after meeting the finance minister in April," Dasgupta, who is also the finance minister of West Bengal, told reporters after a meeting of the empowered committee with Mukherjee today.

While a GST rate and other issues in the proposed tax system would be discussed in April, preparations for rules and procedures for implementation of GST and information technology infrastructure "should be in full swing" now, Dasgupta said.

He added that a draft had already been prepared for amending the Constitution and it was being discussed with the law ministry for its comments.

The introduction of GST has been deferred as the Centre and the states have not been able to sort out their differences with regard to various issues in the tax. While different states have been quoting different revenue neutral rates for GST, the Centre has also disagreed with the states on their suggestions like having a dual-rate structure for GST, keeping various taxes out of the GST ambit, and giving more exemptions.

Meanwhile, the Centre will compensate the states with twothirds (about Rs 9,676 crore) of the revenue loss of Rs 14,181 crore on account of lowering the central sales tax (CST) in the current financial year. The remaining amount will be given in the next financial year.

Apart from this, arrears of Rs 1,000 crore will also be cleared by March. This would put further pressure on the government's fiscal deficit, which is expected to widen to 6.8 per cent in 2009-10.

CST, a levy on inter-state transfer of goods, was reduced to 2 per cent from 4 per cent with the aim of removing it completely at the time of the introduction of GST.

GOODS & SERVICES

The Bills pertaining to the introduction of a new law and amendment to the Constitution will not be tabled in the coming Budget session of Parliament.

http://www.taxguru.in/goods-and-service-tax/new-gst-rollout-date-will-be-known-in-april-2010.html#ixzz0e4TOe33v

Adjustment of Advance FBT with Advance Tax for A.Y. 2010-11

Delhi , January 29,2010 . The Central Board of Direct Taxes have decided that any instalment of advance tax paid in respect of fringe benefits for assessment year (AY) 2010-11 shall be treated as advance income tax paid by assessee for AY 2010-11. The assessee can adjust such sum against its advance tax obligation in respect of income for Financial Year (FY) 2009-10. The unadjusted amount, if any, may be claimed as refund in the return of income for AY 2010-11 to be filed later this year.

Fringe Benefit Tax was introduced by the Finance Act 2005 on the value of certain fringe benefits as contained in Chapter XII H (Sections 115 W to 115 WL) of Income Tax Act, 1961. The Finance Act 2009 abolished FBT with effect from AY 2010-11. However, during the current FY some assessees have paid "advance tax in respect of fringe benefits" for Assessment Year 2010-11. The Circular enables adjustment of such tax or its refund.

Read more: http://www.taxguru.in/income-tax/adjustment-of-advance-fbt-with-advance-tax-for-a-y-2010-11.html#ixzz0e4SZ5Ts7

REF:

CIRCULAR NO.2/2010, Dated 29.1.2010

Income tax department decided to take up fewer tax returns for scrutiny this year

 

If you're worried about what questions your income tax officer will ask about your returns, you can relax a bit. The department has decided to take up fewer tax returns for scrutiny this year. The Central Board of Direct Taxes had issued an internal circular in December 2009, asking commissioners to select fewer cases for scrutiny.

"Now, only 10-20 cases per range can be selected for scrutiny," said RK Singh, chief commissioner of income tax, Mumbai. He said this notice reduces the number to barely 5% of the original number of cases scrutinised.

An assessing officer can scrutinise tax returns up to September 30, 2010 for income earned between April 2008, and March 31, 2009. Singh hinted that the new instructions would reduce the interface between the income tax department and taxpayers, thus curbing corruption.

It is learnt that currently more than 1,000 cases are selected for scrutiny in each range headed by a commissioner. "Each I-T officer has 200-300 cases for scrutiny. It overburdens all — the taxpayer, the income tax department and us," said a chartered accountant.

But this doesn't mean you can get away without paying tax. "In the coming years, the cost of tax evasion is going to increase," Singh said.

"If information is not reported by you then agencies such as banks, insurance companies and the National Securities Depository Ltd (which issues PAN cards) can give us the information," Singh added.

 http://www.taxguru.in/income-tax/income-tax-department-decided-to-take-up-fewer-tax-returns-for-scrutiny-this-year.html#ixzz0dLdYXebP
 

Revenue stamp only for receipt above Rs 5,000

Q. I solicit your expert advice on the levy of tax in the shape of a one-rupee revenue stamp. My queries are:

1. Whether the stamp is required on receipt for Rs 500 also or it is only for amounts exceeding Rs 500 and upto which value?
2. Whether the stamp is required for amounts received only in cash or also for receipts through a cheque etc.
3. Some employers make payments of salary etc. to their employees through a payment advice to a bank for crediting the same to their respective bank account. Some employers get signatures (against a revenue stamp) of listed employees against their respective names for the amounts transferred to their bank accounts. Is stamp mandatory in such cases?
4. Banks do not insist on a revenue stamp on cash receipts or withdrawal payments, but they do in case of payments (in cash or even on credit to a saving bank account) on redemption of a fixed term deposit or bonds or Post Office saving instruments. Is it Ok in the latter case.
5. Many a time signature is not done partly covering the stamp, but a stamp is fixed nearby and crossed simply. Is it Ok?
6. Is using a one-rupee revenue stamp a statutory obligation? What is the implication if the stamp is not used in a receipt?

A. The answers to your queries are as under:

1. In view of the amendment of Schedule I, to the Indian Stamp Act 1899, the one-rupee stamp is required to be affixed on any receipt, the amount or value of which exceeds Rs 5,000. This amendment has come w.e.f. 10.09.04. The stamp is required to be affixed in respect of receipt which has been defined as under in Section 2(23) of the aforesaid Act:"Receipt" include any note, memorandum or writing-
   • whereby any money, or any bill of exchange, cheque or promissory note is acknowledged to have been received, or
   • whereby any other movable property is acknowledged to have been received in satisfaction of a debt, or
   • whereby any debt or demand, or any part of a debt or demand, is acknowledged to have been satisfied or discharged, or
   • which signifies or imports any such acknowledgement, and whether the same is or is not signed with the name of any person.
2. In view of the above, the cheque received would also be covered for the affixation of the stamp.
3. The definition of receipt would definitely cover the cases referred to by you.
4. The withdrawals from bank account is not in the nature of receipt as defined herein above. However, the payment on a maturity of fixed deposit would definitely be covered.
5. In my opinion, such receipt is not perfect.
6. The instrument which is not duly stamped is inadmissible as an evidence.

Note:revenue stamp shown is Just of 15 paisa where as per rule above one rupee stamp is required.

by CA S.C. Vasudeva

http://www.simpletaxindia.org/2010/01/revenue-stamp-only-for-receipt-above-rs.html

Government considering increase in the income-tax exemption limit for individuals in next budget

Government considering increase in the income-tax exemption limit for individuals in next budget

The government is exploring an increase in the income-tax exemption limit for individuals to compensate for the high recent inflation, but revenue considerations and the fact that the limit was hiked sharply in 2008-09 could force it to maintain status quo or give just a token hike.  The proposal has figured in the preliminary discussions , as the policymakers debate ways to give some relief to households from high inflation. Retail inflation, as measured by the consumer price index for industrial workers, was 13.5% in November 2009. A decision is likely over the next three weeks as the budget-making process gathers pace.

"It (the decision) will depend on the revenue considerations that are weighing high on the policymakers as the government is under pressure to signal its return to fiscal consolidation, a government official told ET.

"In general, the trend is to give general relief to taxpayers and a marginal hike is unlikely to have any significant impact on the finances of the government especially if it is looking at hiking excise duty and service tax rates," said D K Joshi, principal economist at rating agency CRISIL.

The government had substantially hiked the exemption limit in the budget 2008-09 and a given a token Rs 10,000 hike in the final budget for 2009-10 , after the United Progressive Alliance came back to power in 2009 elections.

Over the four years to fiscal 2009-10 , the exemption limit has risen at a compounded average growth rate of 12.5%, well ahead of the inflation in this period but less than the current inflation. Food inflation is running at over 18% right now.

"Keeping in view the high inflation, there are expectations from the FM to increase the slabs and provide some more income in the hands of people as economic relief… slab rates require a complete re-look as the basic threshold is very low and basic tax rate get triggered at a very low income level in comparison with global practices," said Vikas Vasal, partner, KPMG.

The new draft direct taxes code, which is also being given finishing touches with the government looking to introduce it in the budget session, proposes to exempt an individual from paying income tax if his income is upto Rs 1,60,000 a year.

Any income in excess of Rs 1.6 lakh and up to Rs 10 lakh would attract a rate of 10%. Besides, the code also proposes to raise investment limit to Rs 3 lakh from current Rs 1 lakh.

There is also thinking that since the new code proposes to include all perks, including that of government employees in the total income, the exemption limit needs to be raised and this budget may be an opportune time to at least indicate the government intent in that direction, officials said.

Read more: http://www.taxguru.in/income-tax/government-considering-increase-in-the-income-tax-exemption-limit-for-individuals-in-next-budget.html#ixzz0dLUByw9A
 

Commissioner is empowered to satisfy himself that the trust activates are genuine and in consonance with its objects before granting approval u/s 80G

Commissioner is empowered to satisfy himself that the trust activates are genuine and in consonance with its objects before granting approval u/s 80G

Once the society during a period of almost 12 years has not carried out any activity, except purchasing land, to construct school/college building for imparting education, which was the main object of the society, the activities of the trust for granting approval under section 80G cannot be called genuine.

CASE LAW DETAILS

Decided by: ITAT, DELHI BENCHES `F', NEW DELHI,  In The case of: Pearls Educational Institute  v. CIT,  Appeal No.: ITA No. 355/Del./2009,  Decided on: December 3, 2009

Read more: http://www.taxguru.in/income-tax-case-laws/commissioner-is-empowered-to-satisfy-himself-that-the-trust-activates-are-genuine-and-in-consonance-with-its-objects-before-granting-approval-us-80g.html#ixzz0dLTuHuve
 

Registration u/s 80G(5)(vi) cannot be denied to charitable trust even if it is running some activity that yields profit

As a rule, if the terms of the trust permit its operation 'for profit' they become, prima facie, evidence of a purpose falling outside charity. They would indicate the object of profit-making unless and until it is shown that the term of the trust compel the trustee to utilize the profits of business also for charity. This means that the test introduced by the amendment is "Does the purpose of a trust restrict spending the income of a profitable activity exclusively or primarily upon what is `charity' in law? If the profits must necessarily feed a charitable purpose, under the terms of the trust, the mere fact that the activities of the trust yield profit will not alter the charitable character of trust."

CASE LAW DETAILS

Decided by: ITAT, BANGALORE BENCH `B', In The case of: Prasanna Trust v. DIT (Exemption),  Appeal No.: ITA No. 1391/Bang./2008,
Decided on: June 12, 2009

Read more: http://www.taxguru.in/income-tax-case-laws/registration-us-80g5vi-cannot-be-denied-to-charitable-trust-even-if-it-is-running-some-activity-that-yields-profit.html#ixzz0dLTerleG
 

SAVINGS UNDER 80C- WHO's NAME CAN BE DONE

SAVINGS UNDER 80C- WHO's NAME CAN BE DONE

In this post we will discuss only points relating to benefit of under section 80C.we have tried to cover all the important issues but if any left or you have different thoughts than ours please record in comments section.The list given below is not complete and we have covered schemes only that widely used by the persons.And we will try to cover each scheme in detail in our other post.
other points related to above

1. Deduction for above schemes in total is available up to Rs.100000 /-
2. The limit of one lac as above is total limit u/s 80C for all type of savings ,plus section 80CCC(pension policy) plus u/s 80CCD(Contributory Pension Plan).Means the aggregate amount of deduction under above referred sections can not exceed Rs. 1,00,000.
3. PPF limit of 70000 is not as per income tax act but specified under ppf scheme more over the limit is combined for individual plus minor child.
4. Accrued interest on NSC is also available for rebate for first five year.(you can download NSC interest calculator from calculator section)
5. Holding period has been either defined under income tax or under scheme qualified in for deduction u/s 80C

80c saving

Scheme particulars	Available to	Can be for	amount cap	Holding period
Life Insurance premium	huf	Member of family	20% of Sum Assured	Two year
	individual	spouse,own,children (major or minor,dependent or indepdent)	do
Non -Commutable defrreed annuity	individual	spouse,own,children (major or minor,dependent or indepdent)	Nil	Nil
Deferred Annuity deducted by Govt	individual	spouse,own,children (major or minor,dependent or indepdent)	20 % of salary	nil
Statutory provident and recognised Provident fund	individual	Individual only on his own name	nil	In case of Rpf 5years
Public Provident Fund	individual	spouse,own,children (major or minor,dependent or indepdent)	70000	6years
National Saving Certificate	individual /huf	own name	nil	nil
Ulip of utI and lic mutual fund(Dhanraksha)	huf	Member of family	nil	5 years
	individual	spouse,own,children (major or minor,dependent or indepdent)	do	do
specified tax saving mutual fund	individual /huf	own name	nil	3 year
payment of house loan	individual /huf	own name	nil	5 year
tution fees	individual	any two children	nil	nil
specified fixed deposit with schduled bank	individual /huf	own name	nil	5 year

http://www.simpletaxindia.org/2008/02/saving-under-80c-whose-name-can-be-done.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+SimpleTaxIndia+%28SIMPLE+TAX+INDIA%29

Income Tax dept asks tax payers to avoid fraud mails

 

The I-T department has asked tax payers not to give out personal details like PAN card number and information about their credit cards on the internet in the wake of mushrooming fake e-mails hitting users' inboxes. Viewing with concern the spurt in fictitious and unauthorised e-mails landing in personal internet addresses of many people, the department is adding a word of 'caution' at the end of each mail sent by them.

"A number of tax payers have received e-mails with subjects like "tax refund" and "seeking refunds" prompting us to take such measures. Such messages continue to land in big numbers in individual e-mails," a senior I-T department official said.

The department has also asked tax payers to avoid replying to e-mail addresses like lhxbkw@accounts.Net, cvhfvs@accounts.Net and nvfmfi@accounts.Net .

These are some of the e-mail id's which have been found to be fake. Unauthorised e-mail addresses could be more than the reported ones and hence taxpayers should avoid them. The I-T department mail is only to be read and keep oneself updated but not to be replied, the official said

: http://www.taxguru.in/income-tax/income-tax-dept-asks-tax-payers-to-avoid-fraud-mails.html#ixzz0cl6HQNVz
 

KNOW YOUR TIN STRUCTURE-DIFF IN VAT,CST,TIN NUMBERS

The registration number allotted to the dealers is popularly known as TIN i.e. Taxpayer Identification Number. This is a eleven digit number to be quoted in all VAT transactions and correspondence. (or)

• The Tax Payer's Identification Number (TIN) is new unique registration number that is used for identification of dealers registered under VAT.
• It consists of 11 digit numerals and will be unique throughout the country. First two characters will represent the State Code as used by the Union Ministry of Home Affairs. The set-up of the next nine characters may, however, be different in different States.
• TIN is being used for identification of dealers in the same way like PAN is used for identification of assesses under Income Tax Act. All the dealers seeking for new registration under VAT or Central Sales Tax will be allotted new TIN as registration number, however every State Commercial Tax Department have made provisions to issue new TIN to their existing dealers replacing old registration/ CST number

so In brief there is no difference in VAT number,TIN or CST number ,now only one number is required for all type of sales i.e TIN it may be called VAT number as it is used intra state sales and may be called CST number as same is required for CST number .TIN is being issued to all new dealers whether required for intra or inter state sales but for old dealer (inter state) CST number will be changed with TIN in phased manner and method adopted by each state is different.'

For example :In Maharashtra at the end on 11 digit one alphabet has been added which ic C for CST number and V for vat Number and all Number in Maharashtra starts from 27 I have arranged a complete list of First Two digit of all the state and Union territories which is given here under.But I am arranging the detail of other 9 digits and publish the same in due course.One I can say that different rules are followed for rest of 9 digits in each states.If any body has a Information about these numbers in respect of their own state then kindly share with us in comment . To know or to verify your TIN/VAT number Click link given in the name of each state.I will provide Link for all Tin verification site ASAP. Download the Detail of First two digits of TIN/Vat http://www.simpletaxindia.org/2010/01/know-your-tin-structure-diff-in.html

PAN STRUCTURE

KNOW YOUR PAN STRUCTURE

What is PAN?
Permanent Account Number (PAN) is a ten-digit lphanumeric identifier, issued by Income Tax Department.A Unique pan has been issued to each assessee (e.g. individual, firm, company etc.)This number is almost mandatory for financial transactions such as opening a bank account, receiving taxable salary or professional fees, sale or purchase of assets above specified limits. his number can be considered to be similar to Social security number issued in United States to citizens and other legal residents.

1-5 field are alpha(A to Z)

6-9 field are numeric(0-9)

10 field is alpha(A-Z)
 

The fourth character of the PAN must be one of the following, depending on the type of assessee:

 

1. C — Company
2. P — Person
3. H — Hindu Undivided Family (HUF)
4. F — Firm
5. A — Association of Persons (AOP)
6. T — AOP (Trust)
7. B — Body of Individuals (BOI)
8. L — Local Authority
9. J — Artificial Juridical Person
10. G — Govt

2.Fifth field of PAN denotes surNAME

• In case of individual: Surname/last name(as given in pan application)

• for ex. in case of Ram Kumar(individual)
• 5th field will be "K"
• 4th field will be "P"

• In case of Ram Kumar Gupta(Individual)
• 5th field will be "G"
• 4th field will be "P"

• In case of All Other Assesees 
• 5th field will be first letter of Name/first Name

• for ex : In case of Suresh Jindal (HUF)(confirmed)
• 5th field will be "S"(first letter of First name i.e Suresh)
• 4th field will be "H"(for Huf)
  

• for ex: in case of ABB LTD(confirmed)
• 5th field will be "A"(first letter of First name)
  
• 4th field will be "C"(for company

 http://www.simpletaxindia.org/2007/11/know-your-pan-structure.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+SimpleTaxIndia+%28SIMPLE+TAX+INDIA%29#ixzz0cNfW768s

 

Import policy of items under Exim Code “7208”

NOTIFICATION NO. 23/ 2009-2014
NEW DELHI, DATED 8^th JANUARY, 2010

Subject : Import policy of items under Exim Code "7208".

S.O. (E) – In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items as under:

1. Import policy for the items under 4 digit Exim Code "7208" will be amended to read as "Free" (instead of "Restricted ").
2. This issues in public interest.

sd/-
( R.S. Gujral )
Director General of Foreign Trade and
Ex-officio Special Secretary to the Government of India
[Issued from F.No. 01/89/180/46/AM09/PC-2(A)]

http://www.taxguru.in/dgft/import-policy-of-items-under-exim-code-%e2%80%9c7208%e2%80%9d.html#ixzz0cHeWf2qS
 

Government may introduce DTC in the forthcoming budget session

Government may introduce DTC in the forthcoming budget session

The government looks all set to introduce the new Direct Taxes Code in the forthcoming budget session , a government official said. Finance minister Pranab Mukherjee met Prime Minister Manmohan Singh on Tuesday to discuss the contours of the new code, billed as the major reform of the direct tax structure being undertaken by the United Progressive Alliance (UPA) government in its second tenure.

The finance ministry has also made a detailed presentation to the prime minister on the direct taxes code.

The finance ministry has already held extensive consultations with all the stakeholders on the draft code and has also initiated an exercise to make appropriate changes and prepare the relevant legislation.

The government wants to make this crucial reform politically acceptable to people before taking it to Parliament. Tuesday's meeting is also believed to have taken up the changes that are being proposed in the draft code put out late last year.

The meeting assumes significance as the finance ministry has initiated the annual budgetary exercise and will be finalise new tax proposals.

The draft code that seeks to replace the Income-Tax Act of 1961 has evoked strong criticism from the industry, political parties and general public at large over the proposed withdrawal of several tax exemptions .

It has proposed sharply lower tax rates for both individuals and corporates but has decided to withdraw the many exemptions available under current tax law s.

The proposals that have invited the maximum criticism include taxation of savings at the time of withdrawal, called E-E-T (exempt-exempt-tax ) in technical parlance as against present E-E-E (exempt-exempt-exempt ) and a minimum alternate tax on gross assets of companies.

The UPA government has also proposed comprehensive reforms of indirect taxes through a national-level goods and services tax (GST).

While the GST, which was proposed to be rolled out from April 1, 2010, is in limbo and may get delayed by a year, the draft direct taxes code has faced resistance from most stakeholders and also from the income tax department

 http://www.taxguru.in/direct-tax-code/government-may-introduce-dtc-in-the-forthcoming-budget-session.html#ixzz0buxzvEJY
 

Union Budget may be presented in Lok Sabha on 27th February

After a gap of more than a decade, the union Budget may be presented in the Lok Sabha on Saturday which happens to be February 27.

"In view of holidays for three consecutive days from February 26 onwards, we can have it (Budget presentation) on February 27," Parliamentary Affairs Minister Pawan Kumar Bansal told PTI.

However, the final decision on the date of presentation of the Budget will be taken by the Cabinet Committee on Parliamentary Affairs, he added.

This year, the CCPA will have to take a call on the date of presentation of Budget as February 28 happens to be Sunday and February 26 is a holiday (Prophet Mohammad's birthday – Milad-un-Nabi).

Last time in 1999, the then finance minister Yashwant Sinha presented the Budget on Saturday which was February 27.

The CCPA, which is headed by the leader of the ruling Congress in the Lower House and Finance Minister Pranab Mukherjee , will also have to decide the dates for presentation of the Railway Budget and the Economic Survey which precedes the general budget.

Mukherjee as finance minister will be presenting the Budget and tabling the Economic Survey in the Lok Sabha, while the rail budget will be unveiled by railways minister Mamata Banerjee.

http://www.taxguru.in/finance/union-budget-may-be-presented-in-lok-sabha-on-27th-february.html#ixzz0buxh58Bp
 

Life insurance companies want withdrawal of service tax on fund management charges

Life insurance companies want withdrawal of service tax on fund management charges

The life insurance industry wants service tax on fund management charges to be withdrawn, as is the case with mutual funds. The Life Insurance Council-the representative body of life insurers-will shortly make a presentation to the finance ministry urging the introduction of a uniform taxation platform for the life insurance sector.

Confirming the development, Life Insurance Council secretary general SB Mathur said: "The life insurance industry paid a total service tax of about Rs 4,000 crore last year under various heads, including fund management charges as well as agent commission. We want a uniform tax structure on all similar financial products.

For example, at present asset management companies do not pay any service tax on fund management fees but the insurance industry pays 10.3 percent service tax."

Max New York Life director (finance) & chief financial officer Sunil Kakkar said: "Insurers also pay service tax on mortality charges as well as auditors' fees. But the major difference lies in payment of service tax on fund management between unit-linked products and mutual funds.

Although service tax on mortality charges can be passed on to customers, the tax on fund management cannot be passed on in entirety."

Interestingly, the cap on charges of unit-linked insurance plans has come into force from January 1. The Insurance Regulatory & Development Authority (Irda) has capped fund management charges at 1.35 percent for all tenures. Rationalisation in the commission structure is also expected with more than 200 insurance products being refiled to comply with the new cap announced by the insurance sector watchdog.

The Life Insurance Council is also trying to asses the impact of the proposed goods and services tax (GST) on insurance products. Although details are not out yet, the council feels components like central and state GST may complicate matters.

http://www.taxguru.in/service-tax/life-insurance-companies-want-withdrawal-of-service-tax-on-fund-management-charges.html#ixzz0buxJqMNc
 

PAPER SIZES(ISO)

ISO PAPER SIZES

The Series A is used for Standard Printing and Stationery. The Series B is used for Posters, Wall-Charts etc.

A SERIES	mm X mm	Inch X Inch	B SERIES	mm X mm	Inch X Inch
A0	841 X 1189	33.11 X 46.81	B0	1000 X 1414	39.37 X 55.67
A1	594 X 841	23.39 X 33.11	B1	707 X 1000	27.83X 39.37
A2	420 X 594	16.54 X 23.39	B2	500 X 707	19.68 X 27.83
A3	297 X 420	11.69 X 16.54	B3	353 X 500	13.90 X 19.68
A4	210 X 297	8.27 X 11.69	B4	250 X 353	9.84 X 13.90
A5	148 X 210	5.83 X 8.27	B5	176 X 250	6.93 X 9.84
A6	105 X 148	4.13 X 5.83	B6	125 X 176	4.92 X 6.93
A7	74 X 105	2.91 X 4.13	B7	88 X 125	3.46 X 4.92
A8	52 X 74	2.05 X 2.91	B8	62 X 88	2.44 X 3.46
A9	37 X 52	1.46 X 2.05	B9	44 X 62	1.73 X 2.44
A10	26 X 37	1.02 X 1.46	B10	31 X 44	1.22 X 1.73

Area of A0 = 1 Square meter A0/A1 = AI/A2 = A2/A3 ...........A9/A10 = 2 Length = 1.414 * Width Width of An = 2^(-1/4-n/2) and Height = 2^(1/4-n/2) Area of B0 = 1.414 Square meter B0/B1 = B1/B2 = B2/B3 ............B9/B10 = 2 B0/A0 = B1/A1 = B2/A2 ..........B10/A10 Width of Bn = 2^(-n/2) and Height = 2^(1/2-n/2) The C series is used for folders, post cards and envelopes. C series envelope is suitable to insert A series sizes.

C SERIES	mm X mm	Inch X Inch	Japanese B Series	mm X mm	Inch X Inch
C0	917X1297	36.10X51.06	B0	1030 x 1456	40.55x57.32
C1	648X917	25.53X36.10	B1	728 x 1030	28.66x40.55=
C2	458X648	18.05X25.53	B2	515x728	20.27x28.66
C3	324X458	25.53X9.02	B3	364x515	14.33x20.27
C4	229X324	9.02X12.76	B4	257x364	10.13x14.33
C5	162X229	6.38X9.02	B5	182x257	7.16x10.13
C6	114X162	4.51X6.38	B6	128x182	5.06x7.16
C7	81X114	3.19X4.51	B7	91x128	3.58x5.06
C8	57X81	2.25X3.19	B8	64x91	2.53x3.58
C9	40X57	1.59X2.25	B9	45x64	1.79x2.53
C10	28X40	1.12X1.59	B10	32x45	1.26x1.79

Width of Cn = 2^(-1/8-n/2) and Height = 2^(3/8-n/2)

The allowed tolerances are ±1.5 mm for dimensions up to 150 mm, ±2 mm for dimensions above 150 mm up to 600 mm, and ±3 mm for dimensions above 600 mm.

The A, B & C series are trimmed paper sizes. ISO also define format series RA and SRA for untrimmed raw paper, where SRA stands for 'supplementary raw format A'. These formats are only slightly larger than the corresponding A series formats. Sheets in these formats are  cut to the end format after binding. The ISO RA0 format has an area of 1.05 m² and the ISO SRA0 format has an area of 1.15 m². These formats also follow the sqrt(2)-ratio and half-area rule, but the dimensions of the start format have been rounded to the full centimeter. The common untrimmed paper formats that printers order from the paper manufacturers are

RA SERIES	mm X mm	Inch X Inch	SRA SERIES	mm X mm	Inch X Inch
RA0	860X1220	33.86X48.03	SRA0	900X1280	35.43 X 50.39
RA1	610X860	24.01X33.86	SRA1	640X900	25.19X35.43
RA2	430X610	16.93X24.01	SRA2	450X640	17.71X25.19
RA3	305X430	12.00X16.93	SRA3	320X450	12.59X17.71
RA4	215X305	8.46X12.00	SRA4	225X320	8.85X12.59

Paper Sizes

Standard Paper Sizes
U.S. Name A (letter) Legal B (ledger) Super B/Super A3 C D E	U.S. Size 8.5 x 11 inches 8.5 x 14 inches 11 x 17 inches 13 x 19 inches 17 x 22 inches 22 x 34 inches 34 x 44 inches	Metric Equivalent 216 x 279 mm 216 x 356 mm 279 x 432 mm 330 x 483 mm 432 x 559 mm 559 x 864 mm 864 x 1118 mm
Metric Name A5 A4 A3 A3+ A2 A1 A0	Metric Size 148 x 210 mm 210 x 297 mm 297 x 420 mm 329 x 483 mm 420 x 594 mm 594 x 841 mm 841 x 1189 mm	U.S. Equivalent 5.8 x 8.3 inches 8.3 x 11.7 inches 11.7 x 16.5 inches 13 x 19 inches 16.5 x 23.4 inches 23.4 x 33.1 inches 33.1 x 46.8 inches

RECYCLE BIN FOR TALLY 7.2 -TALLY 9- TALLY ERP 9

Computer do The work very fast but create bug/error very fast too.Some time we want to create a shortcut for a file and clicks "delete button'but that Bill Gates ,there is recycle bin in windows, from where we can easily restore file deleted by accident. The same Thing can now be done in Tally also ,Yes you an retrieve your voucher deleted by accident any time .


FEATURES(Recycle bin)

• Recycle bin is a FREE add-on utility for Tally Software.
• Recycle bin allows you to retrieve records that you may have accidentally deleted in Tally Accounting Software.
• It is similar to Windows Recycle-bin which allows you to recover the deleted files.
• Recycle bin works with Tally ERP 9, Tally 9 and Tally 7.2.

How to install and use it ?
To use the Recycle bin utility, you need to make certain changes in your Tally.ini file which are given Underneath.
 

 

•  Download the Recycle bin for Tally TCP files (zip)
• Copy the file according to your Tally version. i.e.
  • If you are using Tally ERP 9, then copy rbin9-erp.tcp into the Tally folder or;
  • If you are using Tally 9, then copy rbin9v.tcp into the Tally folder or;
  • If you are using Tally 7.2, then copy rbin.tcp into your Tally folder
• Open Tally.ini(configuration file) file and make the changes as shown below :-

 

For Tally ERP 9 users
User TDL=Yes
tdl=c:\tally\rbin9-erp.tcp( address where you have placed this file)


For Tally 9 users
User TDL=Yes
tdl=c:\tally\rbin9v.tcp( address where you have placed this file)


For Tally 7.2 users
User TDL=Yes
tdl=c:\tally\rbin.tcp( address where you have placed this file)
Save the file and start Tally. You would see extra option of Recycle Bin.(shown in the picture )


After this, when you delete any voucher in Tally; it is still available in the Recycle bin and you can restore it back; if required.or you can delete the same from recycle bin also by using Alt+D from the recycle bin also.


How It is Done
Change the default functionality for the key Alt+D which is used to delete Vouchers. Instead of deleting the Voucher, we now do the following :-


a) Mark the Voucher as Optional.
b) Set the UDF-field 'fldDeleted' to Yes.


This takes care of the following:-
* Marking the Voucher as Optional ensures that the Voucher is not reflected in any books of Accounts.
* The UDF-field 'fldDeleted' is used in the reports (Daybook; Ledger Voucher) to filter out records where the field
'fldDeleted' is set to No.
* The same UDF-field 'fldDeleted' is used in the report 'Rpt Deleted Vouchers' as shown in Step-1. This report displays only those
records where the UDF-field 'fldDeleted' is set as Yes.


That's All.


How To Un Install this Utility
I hope that no body wants to uninstall such a good utility but any how if you want to uninstall it then you should do follow steps.

1. delete all the vouchers from recycle bin one by one by using Alt+D .(if there is no voucher in recycle bin then go to step 2)
2. Delete the file copied in tally folder at the time of installation of the programme as suggest above.
3. alter ini(configuration) file again and delete the line added at the time of install.

The utility is created by Shewta Software and Free for use.

 http://www.simpletaxindia.org/2010/01/recycle-bin-for-tally-72-tally-9-tally.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+SimpleTaxIndia+%28SIMPLE+TAX+INDIA%29#ixzz0bogswk3J

 

S.T exemption to manufacturers of parts of cycles or sewing machines

Service tax exemption to manufacturers of parts of cycles or sewing machines

Notification No. 42/2009-Service Tax -Dated 12-11-2009

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act) the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service specified in sub-clause (zzb) of clause (105) of section 65 of the Finance Act, provided by a person (hereinafter called the 'service provider'), to any other person (hereinafter called the 'service receiver'), in relation to one or more of the specified process during the course of manufacture of parts of cycles or sewing machines, subject to the following conditions, namely :-

a)   the aggregate value of taxable service in relation to one or more of the specified process provided by a service provider, does not exceed rupees one hundred and fifty lakhs during the preceding financial year;

b)  the exemption shall be restricted to the first clearances, wherein the aggregate value of taxable service in relation to one or more of the specified process provided by a service provider does not exceed rupees one hundred and fifty lakhs, made on or after the lst day of April in any financial year, and

c)   where the service provider also undertakes one or more of the specified process in relation to manufacture of parts or whole of goods leviable to Central Excise duty, such service provider shall maintain separate accounts of receipt, production and clearance of exempted and dutiable goods and services.

2. Notwithstanding anything contained in sub-para (b), exemption shall be restricted to the clearances, wherein the aggregate value of taxable service in relation to one or more of the specified process provided by a service provider, does not exceed rupees sixty three lakhs during the remaining part of the current financial year,

Explanation – For the purposes of this notification, "specified process" means electroplating, zinc plating, anodizing, heat treatment, powder coating, painting including spray painting or auto black.

[F. No. 332/28/2009-TRU]

(Prashant Kumar)

Under Secretary to the Government of India

http://www.taxguru.in/service-tax/service-tax-exemption-to-manufacturers-of-parts-of-cycles-or-sewing-machines.html#ixzz0biBfovMo
 

Service Tax Notification - services related manufacture or processing of alcoholic beverages

Service Tax Notification in respect of services related manufacture or processing of alcoholic beverages

Notification No. 43/2009-Service Tax New Delhi, the 2^nd December, 2009

G. S. R.        (E).- Whereas the Central Government is satisfied that a practice was generally prevalent regarding levy of service tax ( including non-levy thereof ), under section 66 of the Finance Act, 1994 ( 32 of 1994) (hereinafter referred to as the Finance Act), on taxable service namely 'business auxiliary services' specified in sub-clause (zzb) of clause 105 of section 65 of the Finance Act provided by a person ( hereinafter called the 'service provider') to any other person ( hereinafter called the 'service receiver') during the course of manufacture or processing of alcoholic beverages by the service provider, for or on behalf of the service receiver, and that such services being a taxable service were liable to service tax under the said sub-clause (zzb) of clause 105 of section 65 of the Finance Act with effect from 1 st day of September 2009, which was not being levied according to the said  practice during the period commencing from the 1 st day of September, 2009 and ending with the 22^nd day of September, 2009;

Now, therefore, in exercise of the powers conferred by section 11 C of the Central Excise Act, 1944 (1 of 1944), read with section 83 of the Finance Act, the Central government hereby directs that the service tax payable on the said taxable service, namely 'business auxiliary service' provided by the service provider to the service receiver, during the course of manufacture or processing of alcoholic beverages by the service provider, for or on behalf of the service receiver, which was not being levied in accordance with the said practice, shall not be required to be paid in respect of  such business auxiliary service provided during the aforesaid period.

(F. No. 332/17/2009 – TRU)

(Prashant Kumar)

Under Secretary

 http://www.taxguru.in/service-tax/service-tax-notification-in-respect-of-services-related-manufacture-or-processing-of-alcoholic-beverages.html#ixzz0biATAuXo
 

Shortcut keys Tally

The shortcut keys appear in button names in the button bar (right side of the Tally screen). You can either click the button from the button bar or press the relevant function key or character underlined/double-underlined.

The buttons have a function key before the button names ( Eg: F1: Select Cmp) which means you need to press F1 key (Function Key) to select the 'Select Company' screen

The buttons have an underlined character ( Eg: F3:Cmp Info), which means you need to press ALT + F3 to select the 'Company Info' screen.

Some buttons have a double-underlined character (Eg: As Voucher) which means you need to press CTRL + V to select the 'Voucher' in voucher mode.

The shortcut keys available in Tally are listed in the below table:

Function Key Combination

Windows	Functionality	Availability
F1	To select a company To select the Accounts Button and Inventory buttons	At all masters menu screen At the Accounting / Inventory Voucher creation and alteration screen
F2	To change the menu period	At almost all screens in TALLY
F3	To select the company	At almost all screens in TALLY
F4	To select the Contra voucher	At Accounting / Inventory Voucher creation and alteration screen
F5	To select the Payment voucher	At Accounting / Inventory Voucher creation and alteration screen
F6	To select the Receipt voucher	At Accounting / Inventory Voucher creation and alteration screen
F7	To select the Journal voucher	At Accounting / Inventory Voucher creation and alteration screen
F8	To select the Sales voucher	At Accounting / Inventory Voucher creation and alteration screen
F8 (CTRL+F8)	To select the Credit Note voucher	At Accounting / Inventory Voucher creation and alteration screen
F9	To select the Purchase voucher	At Accounting / Inventory Voucher creation and alteration screen
F9 (CTRL+F9)	To select the Debit Note voucher	At Accounting / Inventory Voucher creation and alteration screen
F10	To select the Reversing Journal voucher	At Accounting / Inventory Voucher creation and alteration screen
F10	To select the Memorandum voucher	At Accounting / Inventory Voucher creation and alteration screen
F11	To select the Functions and Features screen	At almost all screens in TALLY
F12	To select the Configure screen	At almost all screens in TALLY

Special Key Combination

Windows	Functionality	Availability
ALT + 2	To Duplicate a voucher	At List of Vouchers – creates a voucher similar to the one where you positioned the cursor and used this key combination
ALT + A	To Add a voucher	At List of Vouchers – adds a voucher after the one where you positioned the cursor and used this key combination.
ALT + C	To create a master at a voucher screen (if it has not been already assigned a different function, as in reports like Balance Sheet, where it adds a new column to the report)	At voucher entry and alteration screens, at a field where you have to select a master from a list. If the necessary account has not been created already, use this key combination to create the master without quitting from the voucher screen.
ALT + D	To delete a voucher To delete a master (if it has not been already assigned a different function, as explained above)	At Voucher and Master (Single) alteration screens. Masters can be deleted subject to conditions, as explained in the manual.
ALT + E	To export the report in ASCII, SDF, HTML OR XML format	At all reports screens in TALLY
ALT + I	To insert a voucher	At List of Vouchers – inserts a voucher before the one where you positioned the cursor and used this key combination.
ALT + O	To upload the report at your website	At all reports screens in TALLY
ALT + M	To Email the report	At all reports screens in TALLY
ALT + P	To print the report	At all reports screens in TALLY
ALT + R	To remove a line in a report	At all reports screens in TALLY
ALT + S	To bring back a line you removed using ALT + R	At all reports screens in TALLY
ALT+ V	From Invoice screen to bring Stock Journal screen	At Invoice screen à Quantity Field à Press Alt + V to select the Stock Journal.
ALT + W	To view the Tally Web browser.	At all reports screens in TALLY
ALT + X	To cancel a voucher in Day Book/List of Vouchers	At all voucher screens in TALLY
ALT + R	To Register Tally	At Licensing Menu in TALLY
CTRL + A	To accept a form – wherever you use this key combination, that screen or report gets accepted as it is.	At almost all screens in TALLY, except where a specific detail has to be given before accepting.
CTRL + B	To select the Budget	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + C	To select the Cost Centre To select the Cost Category	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen At Stock Groups/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen
CTRL+ E	To select the Currencies	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + G	To select the Group	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + I	To select the Stock Items	At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen
CTRL + L	To select the Ledger	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen
CTRL + O	To select the Godowns	At Stock Group/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen
CTRL + Q	To abandon a form – wherever you use this key combination, it quits that screen without making any changes to it.	At almost all screens in TALLY.
CTRL + Alt + R	Rewrite data for a Company	From Gateway of Tally screen
CTRL + S	Allows you to alter Stock Item master	At Stock Voucher Report and Godown Voucher Report
CTRL + U	To select the Units	At Stock Groups/ Stock Categories/ Stock Items/ Reorder Levels/ Godowns/ Voucher Types / Units of Measure ( Inventory Info) creation/alteration screen
Ctrl + V	To select the Voucher Types	At Groups/Ledgers/Cost Centres/ Budgets/Scenarios/Voucher Types/ Currencies (Accounts Info) creation and alteration screen

Special Function Key Combination

Windows	Functionality	Availability
ALT + F1	To close a company To view detailed report To explode a line into its details	At all the menu screen At almost all report screen At almost all screens in TALLY
ALT+ F2	To change the system period	At almost all screens in TALLY
ALT + F3	To select the company info menu To create/alter/shut a Company	At Gateway of Tally screen
ALT + F4	To select the Purchase Order Voucher Type	At Accounting / Inventory Voucher creation and alteration screen
ALT + F5	To select the Sales Order Voucher Type To view monthly and quarterly report	At Accounting / Inventory Voucher creation and alteration screen At almost all report screens in TALLY
ALT + F6	To select the Rejection Out Voucher Type To change the Sales Order Voucher Type	At Accounting / Inventory Voucher creation and alteration screen
ALT + F7	To select the Stock Journal Voucher Type To accept all the Audit lists	At Accounting / Inventory Voucher creation and alteration screen At TallyAudit Listing screen
ALT+ F8	To select the Delivery Note Voucher Type To view the Columnar report	At Accounting / Inventory Voucher creation and alteration screen At Ledger Voucher screen
ALT + F9	To select the Receipt Note Voucher Type	At Accounting / Inventory Voucher creation and alteration screen
ALT + F10	To select the Physical Stock Voucher Type	At Accounting / Inventory Voucher creation and alteration screen
ALT + F12	To filter the information based on monetary value	At almost all report screens
CTRL + ALT + F12	Advanced Config	At Gateway of Tally

Key Combination used for navigation

Windows	Functionality	Availability
PgUp	Display previous voucher during voucher entry/alter	At voucher entry and alteration screens
PgDn	Display next voucher during voucher entry/alter	At voucher entry and alteration screens
ENTER	To accept anything you type into a field. To accept a voucher or master To get a report with further details of an item in a report.	You have to use this key at most areas in TALLY At the receivables report – press Enter at a pending bill to get transactions relating to this bill (e.g., original sale bill, receipts and payments against this bill, etc)
ESC	To remove what you typed into a field To come out of a screen To indicate you do not want to accept a voucher or master.	At almost all screens in TALLY.
SHIFT + ENTER	Collapse next level details	At Voucher Register screen and Trial Balance report
SHIFT + ENTER	To explode a line into its details	In almost all Reports: At a Group/Stock Group/Cost Category/Godown/Stock Category – displays Sub Groups and Ledgers/Stock Items/Cost Centres/Secondary Godowns/Secondary Stock Categories At a Voucher – displays its entries and narration At a Stock Item- displays its godowns and batch details At Voucher Register screen – displays the next level details At Trial Balance report - displays the next level details
CTRL + ENTER	To alter a master while making an entry or viewing a report	At voucher entry and alteration screens At all reports

souce : http://www.simpletaxindia.org/2010/01/tally-shortcut-keys-use-tally-fast.html