Income Tax in Tally.ERP 9 Video Lecture | Tally ERP 9: Complete Training - Software Development

hello dear friends welcome in Toledo TI
p9s next class in this class we will
teach you how to treat income tax in a
Toledo TI p9 in a Toledo TI p9 if it is
your personal ability to pay the income
tax on your net profit you just go to a
profit and loss counter and just to
export your profit and loss counter and
then you have to calculate the income
tax by calculating the taxable income as
per income tax law 90-61
there is no to any feature in a
territory ip9 yes if you have to pay the
income tax of your implies if or you did
not pay the TDS and you you go into the
assessment years so your liabilities to
pay the income taxes of you employee for
this you have to activate other features
accounting features maintain payroll and
you have to write oh yes and also
stretch to the in taxation on feature
sir in a enabled TDS tax deducted at
source yes and also enable PL stair-step
to you yes okay and then you have to
create a continuous accounting lasers
laser comes first you have to create a
yogi or salary under inductor under
indirect expenses
in their expenses you just deleted us
some mucho and Teresa
just one mint
you have to show this your salary as as
indirect expenses gross salary indirect
expenses
not applicable now you also have to
create a income tax under duties and
taxes others okay now we have to create
a pair Volvo choice just we have to pay
through SBI
our employees Rajesh and income tax is
eight thousand
is a greater
just for
go facility
I am just mistaking a just we have to
show thy factor
yes and
now we have to pass the butcher entry
they will butchers Rajesh but why it is
not a showing
we have to create a we have to create a
this goes celery in the pay head so we I
am deleting it up now in the payable
butcher this is a payable by clicking
this SBI Rajesh income tax we have to
pay 8000 this is a liability we have
taken eight thousand from implies from
this Hillary's and I am creating gross
salary
this is indirect expenses this is
whining yes yes yes go sir is 20,000 it
means we have paid
we are debiting so we had paid and
accepting now effect of this entry
through balance sheet one side we just
paid a twelve thousand because twenty
thousand contacts and eight thousand
still liability we added a this amount
in this so by passing the auth payable
entries so we need not to pay again this
we just pay this amount eight thousand
we just check it we am just checking
punk
this is income tax it means this account
debit and this account Kedah this is a
deduction this is a earning net amount
achieved by a G should 12,000 so we have
this 8,000 and in our bank account and
the next entry here by passenger we paid
to the government account only 8,000
just passing the virtue and Theresa
payment this is a payment voucher this
is a I'm creating the next H of HDFC
banker
this is a banker
and this is a income-tax 8000 this is
the implies now it will be debated the
employees amount transferred to income
tax department
okay now effect on the balance sheet now
there is no liability
we just debe de our our twenty thousand
twelve thousand tur of our employees and
eight thousand income tax of imply