SM BASHA Tally, Excel, ITR filings, Taxation, C, Python, Ja
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I am SM basha Trainer and Accountant. I enjoy teaching and ready to work online. I use short cut methods and illustrate with short notes.

I am presently working as Individual Private online and offline tutor.

My institute name is Zeetech Computers located at Nandikotkur, Kurnool District of Andhra Pradesh. You can find it in Google also.

My objective is to understand topic and implement immediately. For example if a student is learning Tally, he should be able to create balance sheet and P/L Accounts. I will help them to become Income Tax practitioner.

Subjects

Python Expert
SQL Expert
Tally ERP 9 Expert
Excel Advanced Expert

Experience

No experience mentioned.

Education

M Tech (Apr, 2009–Apr, 2011) from KSOU Mysore

Fee details

₹3,000–5,000/week (US$31.58–52.63/week)

Courses offered

Tally
- ₹500
- Duration: 20 Days
- Delivery mode: Online
- Group size: 21 - 40
- Instruction language: English, Telugu, Urdu, Hindi
- Certificate provided: Yes
Basics
Advance Tally
Taxation
Filing of Income Tax with Accounting Package
- ₹500
- Duration: 20 Days
- Delivery mode: Online
- Group size: 21 - 40
- Instruction language: Telugu, English, Hindi
- Certificate provided: Yes
1. Set Up the Tax Configuration in Tally

Enable GST and Income Tax Features: Before you can start preparing income tax returns, ensure that the GST and Income Tax features are enabled in Tally.
Go to F11: Features and enable the GST and Income Tax features if you haven't already done so.
Income Tax Settings: Set up your Income Tax configuration by going to:
Gateway of Tally > F11: Features > Statutory & Taxation > Income Tax. This will allow you to configure various settings, including the Tax Deducted at Source (TDS) settings.

2. Create the Required Ledgers

Income Tax Payment Ledger: Create a ledger for making income tax payments in the Liabilities section.
TDS Ledgers: If you are subject to TDS, ensure you create the required TDS-related ledgers under the Duties & Taxes section. This includes ledgers for TDS on salary, rent, professional fees, etc.
Expense Ledgers: Set up any relevant expense ledgers that may affect your tax liabilities, such as salaries, business expenses, depreciation, etc.

3. Enter the Financial Data

Record Transactions: Enter all your business and personal transactions in Tally for the relevant financial year. This includes:
Sales and purchase entries
Expenses and income details
TDS payments (if applicable)
Any other entries that impact taxable income
Ensure Correct Classification: Ensure that all entries are correctly classified under appropriate income and expense heads to calculate your tax liabilities accurately.

4. Generate the Income Tax Computation Report

Tally provides a feature to generate Income Tax Reports for individuals and businesses. To access these reports:
Go to Gateway of Tally > Display > Statutory Reports > Income Tax Reports.
The system will automatically calculate your taxable income based on the data entered.

Review the Report: Carefully review the Income Tax Computation report generated by Tally. This will include details on taxable income, deductions, exemptions, and the final tax payable.

5. File Tax Returns Using Tally

Export Tax Data for Filing: Tally allows you to export the required data for filing tax returns. You can generate reports like Form 16 for TDS and other relevant forms for income tax filing.
Go to Gateway of Tally > Display > Statutory Reports > Income Tax Reports > Export.
Export the reports in the required format (typically XML or CSV) for upload to the Income Tax Department's e-filing portal.

Upload the Form on the e-Filing Portal: Visit the Income Tax Department’s e-filing portal (https://incometaxindiaefiling.gov.in/). Log in using your credentials, and proceed with filing the return.
On the portal, select the appropriate ITR form based on your income type (e.g., ITR-1 for salaried individuals).
Upload the exported XML file from Tally for income and tax details.
After submission, verify the return using the Electronic Verification Code (EVC) or other modes (Aadhaar OTP, E-filing password, etc.).

6. Reconcile and Pay Income Tax

After filing the return, ensure that all payments (advance tax or self-assessment tax) are reconciled in Tally.
You can record the payment in the relevant Income Tax Payment Ledger created earlier.

7. Track and Download Acknowledgment

After filing the return, the Income Tax Department will generate an acknowledgment, which you can download from the e-filing portal.
Make sure to save a copy of this acknowledgment for future reference.