गुरुवार, फ़रवरी 16, 2023
सोमवार, फ़रवरी 13, 2023
Capital Gain Calculations With Excel File
Capital gains are profits or gains that are realized when an individual or entity sells a capital asset for a higher price than what it was purchased for. In India, capital gains are taxed under the Income Tax Act, 1961.
There are two types of capital gains in India: short-term capital gains (STCG) and long-term capital gains (LTCG). STCG are realized from the sale of a capital asset that has been held for less than 36 months, whereas LTCG is realized from the sale of a capital asset that has been held for 36 months or more. Short-term capital gains are taxed as per the normal tax slab of the individual. For example, if an individual falls in the highest tax bracket of 30%, then their short-term capital gains will also be taxed at 30%.
Long-term capital gains exceeding Rs 1 lakh in a financial year are taxed at 20% with the benefit of indexation.
Indexation is a process of adjusting the cost of purchase of an asset to account for inflation over the years. This helps to lower the tax liability on long-term capital gains as the adjusted cost of purchase becomes higher.
It is important to note that there are several exemptions and deductions available under the Income Tax Act, 1961, which can reduce the tax liability on capital gains. Some of these exemptions include investment in bonds under Section 54EC and investments in residential property under Section 54F
रविवार, फ़रवरी 12, 2023
Expense report in tally Prime
Welcome friends welcome to RP accounts blog .
Expense report Addin in tally Prime
download link :- click now
सोमवार, अक्टूबर 07, 2019
रविवार, अक्टूबर 06, 2019
शनिवार, अक्टूबर 05, 2019
बुधवार, सितंबर 11, 2019
रविवार, अप्रैल 14, 2019
बुधवार, मार्च 06, 2019
| Form GSTR-3B | |||||||||||||
| [See Rule 61(5)] | |||||||||||||
| System Generated Summary (For Reference only) | |||||||||||||
| Financial Year | 2017-18 | ||||||||||||
| 1. GSTIN | 12AJMPP3549N1ZU | ||||||||||||
| 2(a). Legal Name of the Registered Person | |||||||||||||
| 2(b). Trade name, if any | |||||||||||||
| 3.1 Details of Outward supplies and inward supplies liable to reverse charge | |||||||||||||
| Nature of Supplies | Total Taxable value(₹) | Integrated Tax(₹) | Central Tax(₹) | State/UT Tax(₹) | Cess(₹) | ||||||||
| (a) Outward Taxable Supplies (Other Than Zero Rated, Nil Rated and Exempted) | 4,52,797.55 | 0.00 | 44,646.43 | 44,646.43 | 0.00 | ||||||||
| (b) Outward Taxable Supplies (Zero Rated) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| (c) Other Outward Supplies (Nil Rated, Exempted) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| (d) Inward Supplies (Liable to Reverse Charge) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| (e) Non-GST Outward Supplies | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| 3.2 Out of Supplies made in 3.1 (a) above, Details of Inter-State Supplies made to Unregistered Persons, Composition Taxable Persons and UIN Holders | |||||||||||||
| Nature of Supplies | Total Taxable value(₹) | Integrated Tax(₹) | |||||||||||
| Supplies Made to Unregistered Persons | 0.00 | 0.00 | |||||||||||
| Supplies Made to Composition Taxable Persons | 0.00 | 0.00 | |||||||||||
| Supplies Made to UIN holders | 0.00 | 0.00 | |||||||||||
| 4. Eligible ITC | |||||||||||||
| Details | Integrated Tax(₹) | Central Tax(₹) | State/UT Tax(₹) | Cess(₹) | |||||||||
| A. ITC Available(Whether in Full or Part) | 33,228.90 | 28,929.85 | 28,929.85 | 0.00 | |||||||||
| (1) Import of goods | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (2) Import of services | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (3) Inward supplies liable to reverse charge (other than 1 & 2 above) | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (4) Inward supplies from ISD | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (5) All other ITC | 33,228.90 | 28,929.85 | 28,929.85 | 0.00 | |||||||||
| B. ITC Reversed | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (1) As per rules 42 & 43 of CGST Rules | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (2) Others | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| C. Net ITC Available (A–B) | 33,228.90 | 28,929.85 | 28,929.85 | 0.00 | |||||||||
| D. Ineligible ITC | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (1) As per section 17(5) | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| (2) Others | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| 5 Values of Exempt, Nil-Rated and Non-GST Inward Supplies | |||||||||||||
| Nature of Supplies | Inter-State Supplies(₹) | Intra-State Supplies(₹) | |||||||||||
| From a Supplier under Composition Scheme, Exempt and Nil Rated Supply | 0.00 | 0.00 | |||||||||||
| Non GST Supply | 0.00 | 0.00 | |||||||||||
| 5.1 Interest and Late fee | |||||||||||||
| Details | Integrated Tax(₹) | Central Tax(₹) | State/UT Tax(₹) | Cess(₹) | |||||||||
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||
| Late fee | 0.00 | 2,850.00 | 2,850.00 | 0.00 | |||||||||
| 6.1 Payment of Tax | |||||||||||||
| Description | Total Tax Payable(₹) | Tax Paid Through ITC(₹) | Tax/Cess Paid in Cash(₹) | Interest Paid in Cash(₹) | Late Fee Paid in Cash(₹) | ||||||||
| Integrated Tax | Central Tax | State/UT Tax | Cess | ||||||||||
| (A) Other than Reverse Charge | |||||||||||||
| Integrated Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Central Tax | 44,647.00 | 15,718.00 | 28,929.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2,850.00 | |||||
| State/UT Tax | 44,647.00 | 14,786.00 | 0.00 | 28,929.00 | 0.00 | 932.00 | 0.00 | 2,850.00 | |||||
| Cess | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| (B) Reverse Charge | |||||||||||||
| Integrated Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Central Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| State/UT Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Cess | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
शनिवार, फ़रवरी 02, 2019
Budget 2019 Update
2.
Income Tax
slabs will remain the same for FY 2019-20.
3.
No tax on
notional rent of second Self-occupied House under “Income from House Property”
i.e. up to two self-occupied house properties to be considered for exemption.
4.
Tax Rebate
Limit under 87A increased from Rs. 3.5 lakhs to Rs. 5 lakhs for
taxpayers. The maximum limit of the tax rebate increased to Rs.12,500 from the
present limit of Rs. 2,500.
6.
Standard
Deduction for the salaried class increased from Rs 40,000 to Rs 50,000.
7.
Section 54
exemption now available on the second house property, provided the capital
gains is less than or equal to Rs. 2 crores – to be availed only once
in a lifetime.
8.
Tax
proposals 2019-2020 at a glance for Businesses, MSME & Real
estate
9.
Benefits
under Section 80-IBA to be extended for one more year – to the housing
projects approved till 31 March 2020.
10.
Period of
exemption from levy of tax on notional rent, on unsold inventories is extended
from one year to two years, starting from the end of the year in which the
project is completed.
11.
SMEs with
earnings below Rs 5 Crores will soon file GST returns only
once in 3 months.
12.
MSMEs and
Traders to note that GST Registered SME units will get 2%
interest rebate on an incremental loan of Rs. 1 Crore.
13.
The
requirement of sourcing from SMEs by Government enterprises has been
increased to 25% with 3% reserved for women-owned SMEs.
14.
A scheme of
‘Business loans up to Rs. 1 crore in 59 minutes’ will be implemented.
15.
Limit to
deduct TDS on Rent under Section 194I has been increased from Rs
1,80,000 to Rs. 2,40,000.
16.
Measures
for the poor and backward class
17.
60,000 crores are
being allocated for MGNREGA in Budget Expenditure 2019-20. Additional
amount would be provided if required.
18.
Women
Empowerment
19.
Providing
cleaner fuel for rural women – out of the 8 crores promised free LPG
connections, 6 crore is already delivered under Ujjwala Yojana and
remaining will be deliveredin the coming year.
20.
More than
7,000 beneficiaries of PM Mudra Yojana are women. 15.56 crore loans
of ₹7.23 lakh crore disbursed
under MUDRA Yojana.
21.
Benefits of
maternity leave of 26 week have provided support to women.
22.
Banking
Reforms & Insolvency and Bankruptcy Code (IBC)
23.
Outstanding
loans of public sector banks increased from Rs 18 lakh crore to
Rs 52 lakh crore. Under the clean banking initiative, the 4R approach
i.e. Recognition, Resolution, Recapitalisation and Reforms is being
followed.
24.
3 banks
namely Bank of India, Bank of Maharashtra and Oriental Bank of Commerce are out
of Prompt Corrective Action (PCA)
25.
8 public
sector banks still remain within PCA framework which imposes
restrictions on lending and expansion.
26.
IBC has
instituted a resolution-friendly mechanism to speed-up recovery of NPAs.
Consequently, Rs 3 lakh crore has already been recovered to this
effect.
27.
A sum of Rs
2.6 lakh crore has been directed towards recapitalisation of
Public Sector Banks (PSBs).
28.
Amalgamation
of banks in place to avail economies of scale, better capital and wider
geographical coverage.
29.
Positive
disruptions in Pension Sector
30.
Benefits to
10 crore workers in the unorganised sector as part of the
Mega Pension Yojana.
31.
Contribute
Rs. 55-100 per month and govt will contribute the same – to get Rs. 3000
pension monthly post 60.
32.
Over Rs.
35,000 crore has been allocated under the ‘One Rank One Pension’
scheme for Defence personnel.
33.
Rs.
500 crore allotted for pension schemes for individuals in other
sectors.
34.
NPS rules
amended in December are implemented – with increased Government contribution
from 10% to 14%.
35.
Agriculture
Reforms
36.
Minimum
Support Price (MSP) fixed at 50% more than the cost for all the 22 crops.
37.
Pradhan Mantri Kisan Samman Nidhi (PM-kisan)
to benefit around 12 crore small and marginal farmers with a direct
income support of Rs 6000 annually. Rs 75,000 crore has been
allocated towards this.
38.
The amount
of interest subvention has been doubled and crop loans to farmers increased to
Rs 11.68 lakh crore.
39.
Allocation
for Rashtriya Gokul Mission increased to Rs 750 crore. Rashtriya Kamdhenu Aayog has
been established to genetically upgrade cow resources.
40.
Under Kisan Credit
Card scheme, farmers pursuing animal husbandry and fisheries will get 2%
interest subvention. An additional 3% interest subvention will be provided for
timely loan repayment.
41.
Under
National Disaster Relief Fund (NDRF), farmers affected by natural calamities
will get 2% interest subvention. A prompt repayment incentive of 3% will be
given for entire loan reschedulement period.
शुक्रवार, जनवरी 25, 2019
Tally 18 new erp
- HomeGST TOP-20 Feature of Tally.ERP18
- TOP-20 Feature of Tally.ERP18
- on - January 24, 2019
- Hello Everyone,
- As we all know that Tally.ERP18 is about to launch very soon and it is going to be super challenging for all of us to understand and learn it. I am sure you are going to love the new feature and highlight of Tally.ERP18. Actually Tally.ERP18 is Tall.ERP9 Rel 7.0 which has been named as now Tally.ERP18.
- Tally.ERP9 journey started from 2009 and now it is going to be Tally.ERP18 in 2019. It is #10yearChallenge for Tally as well.
- I have noted down some #TOP20 Highlighted feature of Tally.ERP18. Just go through the same and share your feedback about new version
- Home Page of Tally has been removed. It means you will not get the option of create company backup, restore option on starting of Tally. But you will get the option of Select Company where it will list down the option to Create Company, Select from Path, Login as Remote user, Configure or Specify data location.
- If you will create New Company in Tally-18 it will directly ask you to enable F11 feature, which are feature you going to use.
- F11 Feature which was divided into Accounting Feature, Inventory Feature, Statutory and Tax feature has been removed in Tally-18 and it has been combined on single page as F11 Feature, where you can find all the option all together.
- Earlier Tally has different Master Creation option for Payroll, Accounting, and Inventory now Tally-18 have single master creation screen where you can create all Accounting, Inventory & Payroll master all together.
- You can create and save multiple GST Registration in single company. You don’t have to create multiple data state wise.
- There is massive changes in GST Report. GSTR1/GSTR2/GSTR3B option has been removed now and Tally will be auto connected with your GSTIN login portal and you can export any single entry as well on portal and lock any invoice on real time basis.
- Activity Report in GST Report where you can track your activity to be done or already done for specific period.
- Reconciliation with GST is amazing feature under GST report where you can reconcile your Purchase invoice directly with GSTIN portal.
- Send to GST report where you can upload bulk or single invoice as per your demand and time.
- Return type GSTR1/GSTR2/GSTR3B is available under send to GSTIN Report where you can select return type and select the type of return.(It will be enhanced further)
- Smart Go to Feature from Gateway of Tally where you can Jump on any report from Gateway of Tally
- Click CTL+1 for company management (All feature which is available under ALT+F3 option in current Tally)
- Click CTL+2 for Login management for GSTIN Portal
- Click CTL+3 for Data Management
- Multi Tasking option, you can click on any task and jump on home page of Tally and can work on any other task and can view task in background at any time.
- Accounting Voucher/ Inventory Voucher/ Payroll Voucher/Order Voucher all voucher option has been removed no, single gateway for all voucher types.
- New feature option under voucher type creation alteration screen given called as enable active yes or no which will help you to activate the voucher or deactivate the voucher.
- Example if you have voucher name as Sales-16-17 and now this voucher is no more in use then you can deactivate the voucher.
- 18. Auto fill option under Payment option for Taxes where Tax amount will be auto fill, you don’t have to type Tax amount manually.
- 19. New option of Ledger Reconciliation which will help you to reconcile your ledger with vendor books of accounts.
- 20. User Name will be displayed under login screen which will help to identify which user has logged in the company.
- Many more.....stay tuned for further update....
सदस्यता लें
टिप्पणियाँ (Atom)
March 2026 Closing: Adjustment Entries & Important Notes — Poori Jaankari Hindi Mein
March Closing Adjustment Entry & Notes | RP-Accounts ✍️ By RP-Accounts | March 2026 | Accounting & Finance Tips 📅 March...
-
Capital gains are profits or gains that are realized when an individual or entity sells a capital asset for a higher price than what it was ... -
--- 🌍 Country-wise Financial Year List 🏦 Asia India → 1 April to 31 March Pakistan → 1 July to 30 June Bangladesh → 1 July to 30 June Nepa...