Sunday, December 23, 2012

How do I surrender Tally.ERP 9 license online from Tally.ERP 9?

How do I surrender Tally.ERP 9 license online from Tally.ERP 9?

From the Company Info Menu or Gateway of Tally, go to F12: Configure > Licensing > Surrender License 
The Administrator Login screen appears
  • Enter the required E-Mail ID in Your E-Mail ID
  • Enter the Tally.NET Password
On successfully surrendering the license, Tally.ERP 9 displays the message License Surrendered Successfully.

Detailed

You need to surrender the Tally.ERP 9 license in one of the following scenarios:

  1. Format hard disk
  2. Reinstall operating system
  3. Add new hardware or drivers
  4. Reactivate the same license on another computer 
To surrender the single site license, execute the following steps:  

  • From the Company Info menu or Gateway of Tally, press F12: Configure > Licensing
  • Select Surrender License
  

Tally.ERP 9 prompts you with a message as shown below:

  

  • Press Y or click on Yes
  • The Administrator Login screen appears, enter your E-Mail ID in the Your E-Mail ID field
  • Enter your Tally.NET password in the Your Tally.NET Password field
  

  • Press Y or click on Yes to surrender license
Tally.ERP 9 displays a message License Surrendered Successfully.

Note: In Tally.ERP 9 the License Surrender request can be made from the server or the client machine based on the requirement.

How to extract Tally.ERP 9 to Microsoft Excel 2007 using ODBC?

How to extract Tally.ERP 9 to Microsoft Excel 2007 using ODBC?


Tally ODBC helps you to extract the Data from Tally.ERP 9 and design the reports in MS Excel 2007. This can be done by following the steps listed below:

Step 1: Enable ODBC

  • Start Tally.ERP 9. It should be open till the process is complete.
  • Ensure that the ODBC Server is running. You can confirm this when the message Running as ODBC Server is displayed in the Configuration block of InformationPanel (at the bottom) of Tally.ERP 9 screen, as shown:
  

§         In case, the ODBC Server is not running, you can enable the ODBC Server by following the steps shown:
    • From Gateway of Tally or Company Info menu, press F12 Configure > Advanced Configuration
    • In the Client/Server Configuration screen, set Yes to Enable ODBC Server.
Step 2:
  • Start Microsoft Office 2007
  • Click Data
The sub options of Data menu appears as shown:

  

  • Click From Other sources
  • Select From Microsoft Query
Choose Data Source dialog box appears
  • Select TallyODBC
  

Tally.ERP 9 connects to data source and displays Query Wizard – Choose Columns dialog box.
  • Select the columns you would want to include in the query. Select Ledger and Click " >" button to the right of the following fields: (E.g. $Parent)
  

§         Click Next

The Query Wizard - Filter Data dialog box appears

  

§         Set the filter conditions in the Filter Data dialog box to limit the data to those that match your criteria.

  

§         Click Next

The Query Wizard - Sort Order dialog box appears

  

§         Sort the data in ascending or descending order as per the requirement
§         Click Next

The Query Wizard - Finish dialog box appears.

  

§         The option Return Data to Microsoft Office Excel will be selected, by default
§         Click Finish 

Once the Query Wizard process is complete, the dialogue box entitled Import Data appears.

  

§         Click OK 

The excel sheet will display the report as shown below:
  


Thursday, December 20, 2012

FAQs on FBT - Tally.ERP 9

FAQs on FBT - Tally.ERP 9  


Query
Does section 115WB create two classes of Fringe Benefits under sub-section (1) and (2), i.e., Fringe benefits and Deemed Fringe Benefits?


Answer
Section 115WB defines 'fringe benefits'. Sub-section (1) refers to the specific fringe benefits provided by the employer to employees directly, i.e:

1. Any privilege, service, facility or amenity, which is directly or indirectly made whether by way of reimbursement or otherwise provided by an employer to the employees (including former employee or employees).
2. Any free or concessional ticket provided by the employer for private journeys to employees or their family members.
3. Any contribution by the employer towards an approved superannuation fund for employees.
4. Any specified security or sweat equity shares allotted or transferred, directly or indirectly, by the employer free of cost or at concessional rate to his employees (including former employee or employees)
Sub -section (2) provides that fringe benefits shall be deemed to have been provided by the employer to his employees if the employer incurs any expense on or makes any payment for the purposes enumerated in clauses (A) to (P)

A. Entertainment
B. Hospitality
C. Conference
D. Sales promotion including publicity
E. Employees’ welfare
F. Conveyance
G. Hotel, boarding, lodging Repair, running and maintenance of cars and the amount of Depreciation thereon
H. Repair, running and maintenance of aircraft and amount of Depreciation thereon
I. Use of the telephone
J. Maintenance of any accommodation in the nature of guest house
K. Festival celebrations
L. Health Club/Any other club
M. Gifts
N. Scholarship to employees’ children
O. Tour and travel (including foreign travel)


Query

Does reimbursement of expenditure to an employee, which is purely of a business nature, be liable to FBT? (For example, the payment of sales tax or stamp duty paid on behalf of the employer and reimbursed later ).

Answer
The Reimbursement of expenditure to an employee is a Fringe Benefit provided within the framework of the clause (a) of sub-section (1) of section 115WB. However, the FBT is payable only with regard to reimbursements listed in clauses (A) to (P) of sub-section (2) of section 115WB and for which the computation is provided in section 115WC.

If the computation is not provided for the Fringe Benefit provided or deemed to have been provided, a benefit of that sort is not liable to FBT.


Query
Does section 115WB create two classes of Fringe Benefits under sub-section (1) and (2), i.e., Fringe benefits and Deemed Fringe Benefits?


Answer
Section 115WB defines 'fringe benefits'. Sub-section (1) refers to the specific fringe benefits provided by the employer to employees directly, i.e:

1. Any privilege, service, facility or amenity, which is directly or indirectly made whether by way of reimbursement or otherwise provided by an employer to the employees (including former employee or employees).

2. Any free or concessional ticket provided by the employer for private journeys to employees or their family members.
3. Any contribution by the employer towards an approved superannuation fund for employees.
4. Any specified security or sweat equity shares allotted or transferred, directly or indirectly, by the employer free of cost or at concessional rate to his employees (including former employee or employees)
Sub -section (2) provides that fringe benefits shall be deemed to have been provided by the employer to his employees if the employer incurs any expense on or makes any payment for the purposes enumerated in clauses (A) to (P)

A. Entertainment
B. Hospitality
C. Conference
D. Sales promotion including publicity
E. Employees’ welfare
F. Conveyance
G. Hotel, boarding, lodging Repair, running and maintenance of cars and the amount of Depreciation thereon
H. Repair, running and maintenance of aircraft and amount of Depreciation thereon
I. Use of the telephone
J. Maintenance of any accommodation in the nature of guest house
K. Festival celebrations
L. Health Club/Any other club
M. Gifts
N. Scholarship to employees’ children
O. Tour and travel (including foreign travel)

Query
Are expenses segregated into those incurred for official purposes and those for personal purposes?

Answer
Fringe benefit is deemed to have been provided if the employer has incurred expenses for any purpose referred to in sub-section (2) of section 115WB. A proportion (20% or 50% or 5% as the case may be) of all the expenses falling under the relevant head in sub-section (2) of section 115WB will be taken as the taxable value of the fringe benefits.

There is no requirement to segregate the various expenses referred to in section 115WB, in terms of expenses incurred for official purposes and those incurred for personal purposes.

Query
Is FBT payble on advances paid for expenses?

Answer
The FBT is liable to be paid only for the expenditure incurred and therefore is not applicable on advances.


Query
Is the gross or net expense considered for the purposes of FBT? For example, part of the expenses on various items like travel, may be recovered from the employees. Therefore, should FBT be levied on the 'gross' travel expenditure or on the 'net' travel expenditure'?


Answer
In cases where the employer recovers any amount of expenditure incurred by its employees against the purposes listed in clauses (A) to (P) of sub-section (2) of section 115WB, the value of the fringe benefits can be determined with reference to the net expenditure and not the gross expenditure.

For example, if an employer incurs a total expenditure of Rs 10 lakh on the repair, running and maintenance of motor-cars, and recovers Rs 1 lakh from its employees, the value of the fringe benefit with regard to the repair, running and maintenance of motor-cars will be calculated on the basis of the net expenditure of Rs 9 lakh (i.e., Rs 10 lakh minus Rs. 1 lakh).

Query
Would the contributions made to an approved gratuity or provident fund attract FBT?
Answer

Section 115WB read with section 115WC does not specifically contain any provision for contributions made to an approved gratuity or provident fund that could attract FBT. Therefore, any contribution made to either of these funds would not attract FBT.

Query
Are medical reimbursements upto Rs. 15,000 (exempt in the hands of the employees) and medical reimbursement over Rs. 15,000 (taxed as perquisite in the hands of the employee) liable to FBT?

Answer
At present, if any sum is paid by the employer for an expenditure actually incurred by the employee for medical treatment in an unapproved hospital and it exceeds Rs 15,000 during the year, such sum is considered as a 'salary' defined in clause (1) of section 17 of the Income-tax Act, and is therefore liable to income-tax in the hands of the employee.

There is no change in this position. Since such a sum is taxable in the hands of the employee, the same is not liable to FBT.

However, if a sum is paid by the employer for an expenditure that was actually incurred by the employee for medical treatment in an unapproved hospital and it does not exceed Rs 15,000 during the year, that sum does not fall within the meaning of 'salary as defined in clause (1) of section 17 of the Income-tax Act and is therefore not liable to income-tax in the hands of the employee.

There is no change in this position. Since such a sum is not taxable in the hands of the employee, the same is liable to FBT.

Query
Can the advance tax paid in excess for the preceding quarter be adjusted against the advance tax for the subsequent quarter(s)?

Answer
Yes, any advance tax paid in excess for the preceding quarter can be adjusted against the advance tax for the subsequent quarter(s).