TCS Full Form Is Tax Collected at Source, TCS is tax that is payable by the seller, which is collected from the buyer. In This Post You Will Learn “How To Record TCS Tax Transaction In Tally Prime Step By Step Guide. TCS Rate and Section 206C of the Income Tax Act Mention? Section 206C […]
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Tax Deducted at Source (TDS) is one of the modes of collecting income tax. The buyer (Deductor) deducts the tax from the payment made to the seller (Deductee) and remits the tax to the Income Tax Department within the stipulated time. The buyer files the TDS returns containing details of the seller and the bank,
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The GST is “Goods and Services Tax” a comprehensive, multi-stage, destination-based tax that is levied on every value addition. It is designed to replace various indirect taxes like VAT, excise duty, service tax, and others. It is an indirect type of tax, which has to be paid on buying goods or service and the
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Printing invoices and reports in TallyPrime is quick and easy once you know the steps. Whether you need a hard copy for records or a PDF for sharing, TallyPrime provides flexible options to print your reports or invoices effortlessly. TallyPrime is a powerful accounting software widely used by businesses to manage their accounts, invoices, and
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In TallyPrime, the Export and Import Data feature allows you to transfer your financial data between different systems, create backups, or share information with clients and vendors. This functionality is particularly useful for managing data across multiple branches, transferring data between different accounting systems, or even moving data between different versions of TallyPrime. Export: Exporting
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The Split Company means divide your existing company into two or more separate companies, preserving the financial data and transactions. When you split a company, TallyPrime ensures the transactions are properly carried over, and you can continue with the new company files separately. TallyPrime offers a simple and efficient feature called “Split Company” to help
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Sending emails directly from TallyPrime saves time and ensures accuracy when sharing important business documents. By using Email Feature, you can quickly set up email functionality and start sending invoices, receipts, and reports with ease. Whether you’re communicating with clients, vendors, or internal stakeholders, this feature streamlines your business processes. TallyPrime’s Email Feature allows you
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Auditing in TallyPrime refers to reviewing and verifying the financial transactions entered in the system to ensure they are correct, accurate, and comply with legal requirements. Auditing is an essential part of any business process and helps in ensuring that financial transactions and reports are accurate, comply with regulations, and meet internal controls. In TallyPrime,
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A budget is a plan to prepared for the flow of funds / money in an organization. It contains financial guidelines for the future plan of action for a selected period of time. By creating budgets for income, expenses, and specific projects, and comparing the actual performance with the budgeted figures, businesses can make better
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“Manufacturing” is a broader concept that refers to the process of creating / producing goods through the transformation of raw materials or components into finished products. It involves various stages such as planning, production, quality control, and distribution. In a manufacturing business, tracking the production process and calculating the cost of goods manufactured is essential.
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