Table of Contents

Chapter 1: How to Start a Business

• How to Create a PAN Card
• How to Apply?
• What is the PAN Card
• Who Can Avail a PAN Card
• What Do the Alphabets and Numbers on your PAN Mean?
• Format of PAN Card
• Documents Required for Application of PAN Card
• Compliances Need to Do In Following Cases
  • Proprietorship
  • Partnership
  • Limited Liability Partnership
  • Private Limited Company
  • OPC
• Digital Signature Certificate
• Classes of DSC
• How to Apply for DSC
• DSC Application Form Link
• Documents Required for Gumasta License
• Format of Gumasta
• Documents Required for GST Registration
• Format of GST Registration Certificate
• Documents Required for PTEC & PTRC

Chapter 2: Basic Concepts

• Concept of Delegated Legislation
• Overview of Tax
• What is Tax?
• Why the Need for Taxes
• Introduction of Income Tax in India
• Constitutional Background
• Income Tax Act
• Central Board of Direct Taxes (CBDT)
• Amendments
• Clarifications & Circulars
• Judicial Decisions
• Types of Definition
• Sec 2(31) Person
• Definition of Person
• Sec 2(27) Assessee
• Assessment
• Sec 2(9) Assessment Year
• Sec 3 Previous Year
• Illustration
• Uniform Previous Year
• Special Cases Where Income is Taxed in the Same Year
• Revenue Receipt and Capital Receipt
• Disputed Income
• Diversion of Income and Application of Income
• Surplus from Mutual Activity
• Sec. 2(24) Income
• Sec 4 Levy of Income Tax
• Tax Rates Based on Type of Assessee
• Tax Rates for Individual, HUF, AOP, BOI and AJP
• New Tax Regime
• Health and Education Cess
• Rounding Off
• Sec 87A: Rebate of Income-Tax in Case of Certain Individuals
• Surcharge
• Marginal Relief
• Rate of Surcharge Applicable to Individuals
• Illustration
• Tax Rate of Co-operative Societies
• Tax Rate for Foreign Companies
• Tax Rate for Domestic Companies
• Rates of Tax on Domestic Companies � 25% or 30%
• Surcharge
• Cess
• Effective Rates of Tax
• Sec. 115 BA: Tax Rates for Certain Manufacturing Companies
• Aggregation of Net Agricultural Income

Chapter 3: Overview of GST

• Salient Features of GST
• Benefit of GST
• Taxes Subsumed in GST
• Constitution (One Hundred and First Amendment) Act, 2016
• Sec. 2: Special Provisions with Respect to Goods and Services Tax
• Sec. 17: Amendment of Seventh Schedule
• Sec. 18: Compensation to States for Loss of Revenue
• Sec. 19: Transitional Provisions
• Manner of Utilisation of ITC
• Summary Chart or Flow of ITC under GST
• Illustration

Chapter 4: Working with Tally

• How to Start Tally.ERP9
• Company Info
  • Create Company
  • Select Company
  • Shut a Company
  • Alter Company Details
  • Delete Company
  • Change TallyVault
  • Split Company Data
  • Backup
  • Restore

Chapter 5: Groups, Ledgers & Voucher Types

• Groups & Ledgers
• Altering Groups and Ledger
• Deleting Groups
• Deleting Ledgers
• Voucher Types
• How to Create Voucher Type?
• How to Edit and Delete the Voucher Type?

Chapter 6: Income under the Head Business & Profession

• Rates of Depreciation and Four Main Categories of Assets
• Sec 40A(3): Amounts Not Deductible in Respect of Expenditure Exceeding Rs.10,000
• Illustration
• Sec 44AA: Maintenance of Books of Account
• Sec 44AB: Audit of Books of Accounts
• Special Provisions for Computing Income on Estimated Basis

Chapter 7: Input Tax Credit

• Definitions
• Eligibility and Conditions for Taking ITC
• Sec 16(2)B: Bill to Ship to Situations (Explanation to Section 16(2)(B) of CGST Act)
• Rule 36: Documentary Requirements and Conditions for Claiming ITC
• Additional Information
• Sec. 17: Apportionment of Credit and Blocked Credits
• Question & Answers

Chapter 8: Composition Levy

• Provisions Relating to Composition Scheme under CGST Act, 2017
• Section 2(6): Meaning of Aggregate Turnover
• Clarifications � CGST Removal of Difficulties Order 01/2019-CT (01-02-2019)
• Sec. 10(2A): Composition Levy for Supplier of Services

Chapter 9: Voucher Entries

• Accounting Vouchers
• How to Enable Accounts Only Feature in Tally
• Sales/Receipts Entries (F8)
• Various Types of Sales Entries with Invoices
• Purchase Entries
• Registered Dealer to Unregistered Dealer (Intra/Inter State)
• Unregistered Dealer to Registered Dealer
• Registered Dealer to Registered Dealer (Composition/Exempt)
• Debit Note/Credit Note
• Sales Return/Credit Note (Ctrl + F8)
• Purchase Return/Debit Note (Ctrl + F9)
• Other Expenses/Purchase Bills
• Entries Related to Car Purchase
• Expenses
• Debit Voucher & Credit Voucher
• Bank Statement

Chapter 10: Tax Deducted at Source (TDS)

• Sec 192: Salary
• Sec 192A: Payment from Provident Fund
• Sec 193: Interest on Securities
• Sec 194: TDS on Dividends
• Sec 194A: Interest other than Interest on Securities
• Sec 194B: Winnings from Lottery or Crossword Puzzle
• Sec 194BB: Winnings from Horse Race
• Sec 194C: Payments to Contractors and Subcontractors
• Sec 194D: Insurance Commission
• Sec 194DA: Payment in Respect of Life Insurance Policy
• Sec 194E: Payments to Non-Resident Sportsmen/Sports Association
• Sec 194G: Commission on Sale of Lottery Tickets
• Sec 194H: Commission or Brokerage
• Sec 194I: Rent
• Sec 194IA: Payment on Transfer of Immovable Property
• Sec 194IB: Payment of Rent by Individual/HUF
• Sec 194IC: Transfer of Land/Building Under Development Agreement
• Sec 194J: Fees for Professional or Technical Services
• Sec 194K: TDS on Income in respect of Units
• Sec 194LA: Compensation on Acquisition of Immovable Property
• Sec 194LB: TDS on Income in Respect of Units
• Sec 194M, 194N, 194O, 197A, 198, 199, 200, 192(1A), 200A, 201, 205, 206AA, 234E, 203A, 206C and more
• Due dates, procedures, forms, certificates
• What is TDS?
• TAN Mandatory for TDS
• TDS Deduction and Deposit Procedures
• Filing Returns, Certificates, Credits (Form 26AS)
• Enabling and Handling TDS in Tally
• TDS Transactions and Challans
• Interest & Late Fees, Online Payments, Useful Links

Chapter 11: GST Registration & Cancellation

• Sec. 24: Compulsory Registration
• Sec. 25: Procedure for Registration
• Sec. 29: Cancellation of Registration Certificate
• GST Registration: Who, Documents, Process
• Cancellation of GST Registration

Chapter 12: Returns

• Sec. 37: Furnishing Details of Outward Supplies
• Rule 59: Details Manner
• Sec. 38: Furnishing Details of Inward Supplies
• GST Return: Explanation
• Types of GST Returns and Due Dates
• Interest and Late Fee

Chapter 13: E-Way Bill

• Rule 138: E-Way Rules & Introduction
• What is E-Way Bill?
• Benefits of E-Way Bill
• Provision for Inspection, Furnishing, and Generation
• Rules 138A�138D (Documents, Verification, Detention)
• Who Should Generate an E-Way Bill?
• Documents or Details to Generate
• Validity of E-Way Bill
• Process for E-Way Bill Registration
• Generate and Cancel E-Way Bill

Chapter 14: Advance Tax & Interest

• Sec. 208: Liability to Pay Advance Tax
• Sec. 210(1),(2): Payment by Assessee of His Own Accord
• Interest for Defaults
  • Sec 234A: Return
  • Sec 234B: Advance Tax
  • Sec 234C: Deferment of Advance Tax
  • Sec 234D: Interest on Excess Refund
  • 234F: Fee for Default in Furnishing Return of Income
• Special Cases � Assessee u/s 44AD/44ADA, Capital Gain, Casual Incomes

Chapter 15: Balance Sheet

• Why Create a Balance Sheet?
• How to Prepare a Balance Sheet
• Computation of Income
• Form 26AS
• Profit & Loss Account
• Balance Sheet

Chapter 16: Miscellaneous Topics

• Important Shortcut Keys for Tally.ERP9
• Sales Invoice Printing Configuration
• Printing Company Logos on Reports and Invoices
• Columnar Sales Register
• Viewing Day Book
• Displaying Cash Book

Chapter 17: Finalization of Accounts

• Income Tax Return Overview
• Scrutiny of Profit & Loss Account Points
• Scrutiny Points of Balance Sheet
• Sec 80TTA: Interest on Savings Account Deposits
• Sec 80TTB: Interest to Senior Citizen
• Sec 80M: Deductions on Inter-Corporate Dividends

GST Law & Practice Supplementary Chapters

• Chapter: Supply, Levy and Collection
  • Sec. 2: Relevant Definitions
  • Sec. 9 (CGST): Levy and Collection � Reverse Charge, GTA, RCM Provisions
  • Amendments in Real Estate Sector, RCM on Renting Motor Vehicle
  • Goods/Services under RCM
  • Sec. 7 (CGST): Meaning and Scope of Supply
  • Schedule I, II, III � Composite and Mixed Supply
  • Sec. 8 (CGST): Meaning and Taxability of Composite and Mixed Supplies
  • Deemed Distinct Person, Supply on Approval, Other Key Concepts
• Chapter: Exemption
  • Sec. 11: Power to Grant Exemption
  • Exempt Goods and Services (CGST and IGST)
  • Exemptions: Charitable, Religious, Agricultural, Education, Healthcare, Banking, Legal, etc.
  • Services by/To Government and Other Bodies; Miscellaneous Exemptions
• Chapter: Place of Supply
  • Sec. 10 (IGST): Goods � Other than Imported/Exported
  • Sec. 11 (IGST): Goods � Import/Export
  • Sec. 12 (IGST): Services � Supplier & Recipient in India
  • Sec. 13 (IGST): Services � Supplier/Recipient Outside India
  • Sec. 14 (IGST): Online Information Services
  • Practice Questions
• Chapter: Time of Supply
  • Sec. 12 (CGST): Time of Supply � Goods
  • Sec. 13 (CGST): Time of Supply � Services
  • Sec. 14 (CGST): Time of Supply upon Tax Rate Change
  • Time of Supply under RCM and for Vouchers
  • Practice Problems
• Chapter: Value of Supply
  • Sec. 15 (CGST): Value of Supply
  • Rule 27-33 (CGST Rules): Determination in Special Cases
  • Valuation: Related Party, Agent, Cost, Residuals, Secondhand Goods, Discounts
  • Air Travel, Insurance, Foreign Currency, Vouchers
  • Practice Questions