Software Development Exam  >  Software Development Videos  >  Tally ERP 9: Complete Training  >  Tax Audit in Tally - Tally.ERP 9 - Part 59

Tax Audit in Tally - Tally.ERP 9 - Part 59 Video Lecture | Tally ERP 9: Complete Training - Software Development

83 videos

Top Courses for Software Development

FAQs on Tax Audit in Tally - Tally.ERP 9 - Part 59 Video Lecture - Tally ERP 9: Complete Training - Software Development

1. What is a tax audit in Tally?
Ans. A tax audit in Tally refers to the process of examining and verifying a company's financial records to ensure compliance with tax laws and regulations. It involves assessing the accuracy of financial statements, tax calculations, and other relevant documentation to determine if the company has fulfilled its tax obligations correctly.
2. How does Tally.ERP 9 assist in conducting a tax audit?
Ans. Tally.ERP 9 is a software that provides features and functionalities to facilitate tax audits. It helps in maintaining accurate financial records, generating various tax reports, and performing tax calculations automatically. It also enables easy reconciliation of books with tax returns and assists in identifying discrepancies or errors that may require further investigation during the tax audit.
3. What are some important features of Tally.ERP 9 for tax audits?
Ans. Tally.ERP 9 offers several features that are useful for tax audits. Some important features include: - Automatic calculation of taxes based on predefined tax rates and rules. - Generation of various tax reports, such as VAT returns, GST returns, and TDS reports. - Easy reconciliation of data between books and tax returns. - Support for e-filing of tax returns directly from the software. - Audit trail facility to track changes made to financial data. - Integration with other accounting software and systems for seamless data transfer.
4. How can Tally.ERP 9 help in ensuring tax compliance during a tax audit?
Ans. Tally.ERP 9 helps in ensuring tax compliance during a tax audit by providing accurate and up-to-date financial information. It automatically calculates taxes based on predefined rates and rules, reducing the chances of manual errors. The software also generates various tax reports, which can be used to cross-verify with the company's financial records and ensure that all tax obligations are met.
5. Can Tally.ERP 9 help in identifying potential tax issues or discrepancies?
Ans. Yes, Tally.ERP 9 can help in identifying potential tax issues or discrepancies during a tax audit. The software provides comprehensive financial reports, such as balance sheets, profit and loss statements, and cash flow statements, which can be analyzed to identify any inconsistencies or irregularities. Additionally, Tally.ERP 9's audit trail feature helps in tracking changes made to financial data, allowing auditors to identify and investigate any suspicious activities or errors.
Explore Courses for Software Development exam
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Related Searches

mock tests for examination

,

Sample Paper

,

Important questions

,

MCQs

,

Tax Audit in Tally - Tally.ERP 9 - Part 59 Video Lecture | Tally ERP 9: Complete Training - Software Development

,

Free

,

Objective type Questions

,

Summary

,

Semester Notes

,

past year papers

,

Tax Audit in Tally - Tally.ERP 9 - Part 59 Video Lecture | Tally ERP 9: Complete Training - Software Development

,

study material

,

ppt

,

video lectures

,

practice quizzes

,

Exam

,

pdf

,

Previous Year Questions with Solutions

,

Extra Questions

,

Tax Audit in Tally - Tally.ERP 9 - Part 59 Video Lecture | Tally ERP 9: Complete Training - Software Development

,

shortcuts and tricks

,

Viva Questions

;