Wednesday, 6 January 2010

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

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Tuesday, 5 January 2010

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

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Monday, 4 January 2010

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

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

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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

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Friday, 1 January 2010

PAYMENT EXCEEDING 20000 40(A)3 EXCEPTIONS RULE 6DD

 
  1. Section 40A(3)(a) of the Income-tax Act, 1961 provides that any expenditure incurred in respect of which payment is made in a sum exceeding Rs.20,000/- otherwise than by an account payee cheque drawn on a bank or by an account payee bank draft, shall not be allowed as a deduction.However if payment is being made for plying, hiring or leasing goods carriages then Limit for these section is Rs 35000/-,instead Of  20000/- 
  2. Section 40A(3)(b) also provides for deeming a payment as profits and gains of business or profession if the expenditure is incurred in a particular year but the payment is made in any subsequent year in a sum exceeding Rs. 20,000/- otherwise than by an account payee cheque or by an account payee bank draft.
  3. Section 40A(3) is an anti tax-evasion measure. By requiring payments to be made by an account payee instrument, it is possible to verify the genuineness of the transaction thereby mitigating the risk of evasion.Person are splitting a particular high value payment to a person into several cash payments, each below Rs.20,000/-. This splitting is also resorted to for payments made in the course of a single day.Courts have also held that the statutory limit in section 40A(3) applies to payment made to a party at one time and not to the aggregate of the payments made to a party in the course of the day as recorded in the cash book.According to the judicial opinion, the words used are 'in a sum', i.e., single sum.Therefore, irrespective of any number of transactions, where the amount does not exceed the prescribed amount in each transaction,the rigours of section 40A(3) will not apply.
  4. To overcome the splitting of payments (AS GIVEN IN POINT NO 3)to the same person made during a day as referred above and to increase the efficacy of the provision, an amendment was made through Finance act 2008 and after 01.04.2008, where a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees, the disallowance of such expenditure shall be made under the proposed sub-section (3) of section 40A or the payment shall be deemed to be the profits and gains of business or profession under the proposed sub-section (3A) of section 40A,as the case may be.
EXAMPLE :To illustrate with an example, let us assume a taxpayer has incurred an expenditure of Rs 40,000/-. The taxpayer makes separate payments of Rs 15,000/-, Rs 16,000/- and Rs 9,000/- all by cash, to the person concerned in a single day. The aggregate amount of payment made to a person in a day, in this case, is Rs 40,000/-. Since, the aggregate payment by cash exceeds Rs 20,000/-,Rs. 40,000/- will not be allowed as a deduction in computing the total income of the taxpayer in accordance with the proposed amendment.

EXCEPTION TO ABOVE PROVISION:The provisions of this section are subject to exceptions as provided in Rule 6DD of the Income-tax Rules, 1962.
 
  • Payment to Specified payee Rule 6DD(a)- Where the payment is made to 
    • (i) Reserve Bank of India  or any  banking company as defined in section 5(c) of Banking Regulation Act, 1949; 
    • (ii) State Bank of India or any subsidiary bank as defined in section 2 of SBI (Subsidiary Banks) Act, 1959; 
    • (iii) any co-operative bank or land mortgage bank; 
    • (iv) any primary agricultural credit society or any primary credit society as defined under section 56 of the Banking Regulation Act, 1949; 
    • (v) Life Insurance Corporation of India.
  • Payment to Government  Rule 6DD(b)- Where payment is made to the Government and, under  the rules framed by it, such payment is required to be made in legal tender.
  •  Payment by certain modesRule 6DD(c) - Where the payment is made by
    •  (i) any letter of credit arrangements through a bank; 
    • (ii) a mail or telegraphic transfer through a bank; 
    • (iii) a book adjustment from any account in a bank to any other account in that or any other bank; 
    • (iv) a bill of exchange made payable only to a bank; 
    • (v) the use of electronic clearing system through a bank account; 
    • (vi) a credit card; 
    • (vii) a debit card. 
    • Note: "Bank" means any bank, banking company or society referred to in #(i) to (iv) of rule 6DD(a) and includes any bank [not being a banking company as defined in section 5(c) of the Banking Regulation Act, 1949], whether incorporated or not, which is established outside India.
  • Adjustment in books Rule 6DD(d)-  Where the payment is made by way of adjustment against the amount of any liability incurred by the payee for any goods supplied or services rendered by the assessee to such payee.
  • Purchase of certain productsRule 6DD(e):Where the payment is made for the purchase of  -
    •   (i) agricultural or forest produce; or 
    • (ii) the produce of animal husbandry (including livestock, meat, hides and skins)***** or dairy or poultry farming; or 
    • (iii) fish or fish products; or 
    • (iv) the products of horticulture or apiculture, to the cultivator, grower or producer of such articles, produce or products. 
  • Cottage industry Rule 6DD(f)- Where the payment is made for the purchase of the  products manufactured or processed without the aid of power in a cottage industry, to the producer of such products.
  • No bank service Rule 6DD(g)  - Where the payment is made in a village or town, which on the date of such payment is not served by any bank,to any person who ordinarily resides, or is carrying on any business, profession or vocation, in any such village or town.
    •  Note: "Bank" means any bank, banking company or society referred to in #(i) to (iv) of rule 6DD(a) and includes any bank [not being a banking company as defined in section 5(c) of the Banking Regulation Act, 1949], whether incorporated or not, which is established outside India.
  • Terminal benefit to employee - Rule 6DD(h) Where any payment is made to an employee of the  assessee or the heir of any such employee, on or in connection with the retirement, retrenchment, resignation, discharge or death of such employee, on account of gratuity, retrenchment compensation or similar terminal benefit and the aggregate of such sums payable to the employee or his heir does not exceed Rs. 50,000.
  • Temporary posting of employee - Rule 6DD(i) Where the payment is made by an assessee by way of  salary to his employee after deducting the income-tax from salary as per section 192, and when such employee
    •  (i) is temporarily posted for a continuous period of 15 days or more in a place other than his normal place of duty or on a ship; and 
    • (ii) does not maintain any account in any bank at such place or ship. 
  • Bank closed - Rule 6DD(j) Where the payment was required to be made on a day on which the banks were closed either on account of holiday or strike.
  • Payment to agent  Rule 6DD(k)- Where the payment is made by any person to his agent  who is required to make payment in cash for goods or services on behalf of such person. 
  • Foreign currency Rule 6DD(l)- Where the payment is made by an authorised dealer or  a money changer against purchase of foreign currency or travellers cheques in the normal course of his business. Note: "Authorised dealer" or "money changer" means a person authorised as an authorised dealer or a money changer to deal in foreign currency or foreign exchange under any law for the time being in force




****. Exemption from disallowance is not available

  • on payment for purchase of livestock, meat,hides and skins from a person who is not proved to be the producer of these goods and is only a trader, broker or any other middleman, by whatever name called [Circular No. 4/ 2006, dated 29-3-2006 (14 CAPJ 201)] 
  • Any person, by whatever name called, who buys animals from the farmers, slaughters them and then sells the raw meat carcasses to the meat processing factories or to the traders/retail outlets is considered as producer of livestock and meat. 
  • Exemption is available subject to furnishing of 
    • (i) declaration from person receiving payment that he is a producer of meat; 
    • (ii) confirmation that payment, otherwise than by account payee cheque/draft, was made on his insistence; and 
    • (iii) a further confirmation from a veterinary doctor certifying that person specified in the certificate is a producer of meat and that slaughtering was done under his supervision [Circular No. 8/2006, dated 6-10-2006 (16 CAPJ 381)].

 www.simpletaxindia.org/2009/12/payment-exceeding-20000-40a3-exceptions.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+SimpleTaxIndia+%28SIMPLE+TAX+INDIA%29

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