Section 43B of Income Tax Act: Expenses businesses can cover apart from payment to MSMEs

Published on: 10-05-2024

A section of MSMEs and traders in India is expecting the revision or revocation of the new clause h brought under Section 43B of the Income Tax Act, 1961 by the government to address the delayed payment issue of MSMEs. The concern among certain MS... Read more

---

Income Tax Act amendment on cards on tax treatment of MSME dues

Published on: 23-04-2024

A change introduced last year in the Income Tax Act to help small businesses receive timely payments might have had the unexpected effect of putting off buyers of their goods and services altogether. According to two people aware of discussions in... Read more

---

When will ITR1 forms become available for tax filing. Check details

Published on: 12-04-2024

The Income Tax department has made it easier for taxpayers to file their taxes for the financial year 2023-24 (FY24) by rolling out online forms ITR-1, ITR-2, and ITR-4, on its website.

... Read more

---

Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals

Published on: 12-04-2024

The Income Tax department has released an interim action plan for the fiscal year 2024-25, which will focus on areas such as identifying cases of TDS short-payment, expediting appeals processing, and others.

... Read more

---

45-day MSME payment rule: Impact and details of Section 43B(h) explained

Published on: 27-03-2024

To ensure timely payments to the Micro, Small and Medium Enterprises (MSME) sector, a new regulation will be implemented from April 1. This regulation requires companies to settle their dues with MSMEs within 45 days. Non-compliance will lead to a... Read more

---

How innovative solutions can help fix the Sec 43B conundrum for MSMEs

Published on: 23-03-2024

The Micro, Small, and Medium Enterprises (MSME) industry stands as the growth engine of the Indian economy, contributing significantly to the nation’s GDP, exports, and employment. Currently the sector accounts for 30% of the country’s... Read more

---

Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What’s New!

Published on: 19-03-2024

With the new MSME feature, both MSMEs and businesses trading with MSMEs can identify MSME status and track pending bills for timely payments. Moreover, buyers from MSMEs can quickly file their... Read more

---

Reconciliation of Bank Statements in TallyPrime

Published on: 12-03-2024

A Bank Reconciliation is a process to match all the transactions and bank balances of an organisation with the accounting records of the organisation for a particular period. You can perform the reconciliation manually as well as automat... Read more

---

Generate Bulk e-Way Bills

Published on: 22-12-2023

Businesses can generate bulk e-way bills using Tally.ERP 9. As a user creates a transaction in Tally.ERP 9, gives an option to provide eWay bill related details and export the transaction in JSON format. This JSON file can be uploaded on the ... Read more

---

How to Import Data into TallyPrime

Published on: 22-12-2023

If you manually enter any data into TallyPrime by referring to transaction details available any external software, you can directly import the data from such software into TallyPrime. TallyPrime allows you to import data from both Excel and XML f... Read more

---

TallyPrime’s Seamless Integration With Payment Gateways For Faster Collection Of Payment

Published on: 30-06-2023

The rise of digital payments has changed the way businesses operate. Integrating digital payments into business operations has become crucial for companies to remain competitive in today's market. It not only provides convenience to customers ... Read more

---

How to Manage Multi GSTIN in Tally Prime Release 3.0

Published on: 02-06-2023

The implementation of the GST tax in India was a significant reform in the Indian taxation system, and it has had a major impact on the Indian economy.

... Read more

---

GSTIN: Definition, Importance, Format & How to Apply for GST Number

Published on: 20-04-2023

The important identifier for businesses in the GST era is the GSTIN or Goods and Services Tax Identification Number, or simply GST number. Most businesses on applying for GST number or migrating their registration under the previous indirect tax r... Read more

---

Get Ready to Record Transactions of the New Financial Year in TallyPrime | Moving to the Next Financial Year

Published on: 14-04-2023

Existing users of TallyPrime can start recording the transactions for the new financial year in TallyPrime by changing the current period or by creating a new company. As you are aware, start of a new financial year is the right time for you ... Read more

---

Create Employees in TallyPrime (Payroll)

Published on: 16-02-2023

The employee master in TallyPrime can be used to record all the employee related information. Along with the general information consisting of basic details of the employees, you can also enter the Payment, Statutory, and Contract details. To ente... Read more

---

Set TallyVault for Your Company

Published on: 08-02-2023

TallyVault is an enhanced security system that allows encryption of your company data. Based on your business environment, if you want to maintain privacy of the company that you have created in TallyPrime, use TallyVault. Providing a TallyVault p... Read more

---