Accounts & Finance

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Accounts & Finance 2020-11-10T05:21:22+00:00

MODULE 1- GST- GOODS & SERVICE TAX

Principles
Important Definitions. (Section 2)
Why GST is Necessary?
Impact of GST.
Benefits/ Demerits.
Different Rates of GST.
FAQ
Definition & Important Notes to Return.
Types of Returns. (Annual Return, First Return, Regular Return)
Notice to Return Defaulters.
Levy of Late Fee.
Goods and Services Tax Practitioners
Various Return Form
e. GSTR-I, II ,III, 3B
FAQ
Special Provision for Job Worker
Composition Levy Section 10
Quarterly Return for Compounding Taxable Person GSTR-4
FAQ
Identify E-Way Bill Generation Scenarios Under GST
Identify -various movements which take place on daily basis
Sale, purchase – goods sent for repairs, job work, sales return, purchase return, imports and exports
Transactions with unregistered dealers etc.
Fix Responsibility Fore-Way Bills
Agreements with business participants on roles/responsibilities
Updating E-Way Bill in case of change in conveyance
Breakdown of conveyance
Expiry of validity of E-Way Bill
Return of goods from customer premises without acceptance, etc.
Obtain GST Registration Number
Prerequisite for generation of E-Way Bill
ID From Transporters
Transporter ID needs to be available before goods are dispatched
Update Pin Codes
Pin codes are mandatory field in E-Way Bill formats
Generation login id password on E-Way Bill portal
Assess Personnel Requirement For Generation E-Way Bills
Assess Personnel Requirement For Generation E-Way Bills

Manpower which will require to undertake E-Way Bill compliances
Additional manpower particularly for initial few months till system stabilizes
Stay updated with developments in E-Way Bill
FAQ released by the government
regular updates from governmentv
Migration of Existing Dealer.
Registration Structure under GST.
Persons required to be registered.
Process of Registration.
Amendment in Registration.
Cancellation of Registration.
Forms for GST Registration
GST REG-01- Application.
GST REG-02- Acknowledgement.
GST REG-06- Certificate.
REG-01 to REG-30
FAQ
Refund of Tax (Section-54)
Refund in Certain Cases (Section-55)
Interest on Delayed Refunds (Section-56)
Consumer Welfare Fund (Section-57)
Utilization of Fund (section-58)
FAQ
Definitions
Collect of Tax at Source – E Commerce
FAQ
Payment of Tax, Interest, Penalty and other charges Section 49
Interest on delayed payment of tax Section 50
Tax Deduction at source Section 51
Tax Invoices Section 31
Time and Value of Supply Section (12-15) Chapter IV
Transitional Provisions Section (139-142) Chapter XX

MODULE 2 – INCOME TAX AND TDS

Person V/S Assessee
Advance Tax
Advance Tax
Interest under section 234A/B/C
Gross Total Income and Its Components

Expenses Allowed and Expenses Disallowed
Depreciation and Additional depreciation
TDS Compliances and computation of business income
Expenses allowed on actual basis
Cash Payment in excess of Rs.10,000.
Payment to related person
Deemed income
Presumptive income
Set off and carry forward of Business Loss
Carry Forward of unabsorbed depreciation
Maintenance of Books of accounts
Audit of Books of accounts
Introduction to ICDS

Deduction on The Basis Of Payment
LIC,F.D, PPF, ELS,Tution Fee, House Loan ,NPS, etc (Sec 80C/80CCC/80CCD/80CCE)
Medical Insurance (Sec 80 D)
Deduction for handicapped dependent (80DD)
Deduction for Education Loan Interest (80 E)
Deduction for House Loan Interest (80 EE)
Deduction for Donation (80G)
Deduction for handicapped assessee (Sec 80U)
Deduction on the basis of Income (Home Assignment)
Other Deductions
High value asessessee but no business income
26 AS Reconciliation
Capital Gain Computation and supporting Documents
Demat Account Detail (If Applicable)
Bank Statement Detail
Income from Other Sources other than Interest
Address of properties bearing income
Schedule of Set off and carry forward of losses
EMI schedule from bank of Housing Loan
ITR-4 (Applicable for Assessee who opted for Presumptive income)
ITR-5 (Applicable for Assessee other than Individual, HUF, Company and person filing return in ITR 7)
ITR-7 (Applicable for Specified Assessee availing Exemption under section 11/12)
Introduction to TDS
Related and other linked provision
Lower TDS
TDS on Salary (Sec 192)
TDS on Interest (Sec 194A)
TDS on Commission (Sec 194H)
TDS on Professional Services (Sec 194J)
TDS on Rent (Sec 194I)
TDS on Contract (194C)
Section 195 to be read with Section 9 for Non Resident
Other provisions of TDS

Basic Salary
Allowances (Exempted and Non Exempted)
Perquisites –(Valuation)

GAV
M.Taxes
NAV
Deduction u/s 24 (Statutory and Interest)
Charging Section
Intro To Capital Assets, Holding Period and Transfer
Full Value Consideration
Cost of Acquisition
Sec 50C Stamp Value to be adopted as FVC
Capital Gain on Transfer of Shares and Debentures
Rates of Taxes on Capital Gain
Exemption under section 54
Set off and Carry Forward of capital loss
Income liable under other Sources
Deduction Available
3 ways to prepare Return and filing of Return
Filing of return through ITR Utility
Filing of Return through Software (Taxman) utility
Filing of Return through Tax Cloud Computing System
General Information Required in all type of ITR
Assessee Type Selection
Residential Status
Section under which return is to be filed
ITR-1
Low Value Assesse but doesn’t have Business Income
Documents Required for ITR-1 (Form 16/26AS/Bank Statement/Investment Detail)
Discussion on Different fields of ITR-1 and Assignment
Assesee having business income
26 AS Reconciliation
Capital Gain Computation and supporting Documents
Demat Account Detail (If Applicable)
Bank Statement Detail
Income from Other Sources other than Interest
Address of properties bearing income
Schedule of Set off and carry forward of losses
EMI schedule from bank of Housing Loan
Profit and Loss Account and Balance Sheet with Schedule
Audit Report
Introduction to Company
MAT an Introduction
Special Provision Applicable for Companies
Depreciation Schedule
26 AS Reconciliation
Audited Profit and Loss account and Balance Sheet
Audit Report
Applicability of ICDS and its impact
Dividend Distribution Tax
TDS Payment
TDS Return on Taxman Software
TDS return Practice on Cloud computing System
TDS return through Return Prepare Utility (PPT)
Consequences for Non Deposit of TDS
Consequences for Non Filing of TDS Return
TDS demand and resolution
TRACE online Introduction
Downloading the Conso. File from TRACES
Filing Correction Statement (Challan Mismatch and PAN Mismatch)
Downloading Form 16/16A
Registering DSC on TRACE
Revised Return
Application For TAN

MODULE 3 – FINALIZATION OF BALANCE SHEETPREPARATION OF FIANCIAL STATEMENT

Preparation of Balance sheet According to Revised Schedule VI
Preparation of Balance Sheet of SME Accounts
Preparation of Balance Sheet of Large and Medium Entrepreneur Analysis of Balance Sheet and its components as per Revised Schedule of Companies Act 2013.
Logical Process of preparing balance sheet on Excel of a company registered under companies Act.
An overview of Indian GAAP (Generally Accepted Accounting Principles) and Ind AS and its applicability on Finalization of accounts.
Comparative Analysis of provisions of Depreciation in Income Tax Act and Companies Act.
Bank Reconciliation Statement and its importance for finalization.
Year-end Adjustment entries. (New Topic)
Deferred Tax (New Topic)
Real World demo of Grouping of Heads of income and expenses through trial balance.
Practical demo on linking skill of cells in Excel and preparation Financial Statement on multi excel sheet with its other component.
Financial Analysis (how to read the financial accounts of a Company – important ratio analysis) (New Topic)

MODULE – 4 ADVANCED TALLY ERP 9

Accounting Entries
Adjustment Entries
Preparation of Books of Accounts
Inventory Management by using Tally
Reconciliation of Bank Statement
Reconciliation of Vendor/Soppier Account
Audit Steps by using Tally

MODULE 5 ADANCED EXCEL AND MIS FOR ACCOUNTS & FINANCE+

Provide Basic Understanding of Excel, Make user Familiar to Create Formula and give Platform to Make Good Analysis and Introduce Powerful Tools of Advance Excel so that user can Make Advance Analysis with the help of Those Tools
TOPICS COVERED:
Advanced Excel
VLookup, HLookup, Index, Match, Offset, Indirect, Address, Column, Columns, Row, Rows, Choose, Arrays Concept In Lookup Formula’sSum, Sumif, Sumifs, Count, Counta, Countblank, Countif, Countifs, Average, Averagea, Averageif, Averageifs, Subtotal, Aggregate, Rand, Randbetween, Roundup, Rounddown, Round, Sumproduct. Text Functions & Data Validation:- Char, Clean, Code, Concatenate, Find, Search, Substitute, Replace, Len, Right, Left, Mid, Lower, Upper, Proper, Text, Trim, Value Date, Day, Month, Year, Edate, Eomonth, Networkdays, Workday, Weeknum, Weekday, Hour, Minute, Second, Now, Today, Time.

And, Or, If, Iferror, Not, Nested If, Isna, Isblank, Iserr, Iseven, Isodd, Islogical, Isytext, Max, Min

Data Collection Method With Data Quality, Collaboration & Security Like Share Your Workbook On Share Drive With Quality
Single/Multidimensional Analysis, Like Three Dimensional (3D) Tables Sensitive Analysis Like Data Table, Manual What-If Analysis, Threshold Values, Goal Seek, One-Variable Data Table,
Advanced Chart Technique, How To Make Dynamic Charts, Bar Charts, Pie Charts, Scatter Chart, Line Chart, Column Chart, Speedometer Chart, Gantt Chart, Two-Variable Data Table
Validation & Pivot Table:- Filters (Basic, Advanced, Conditional), Sort (Ascending, Descending, Cell/Font Color), Conditional Formatting, Data Validation, Group & Ungroup, Data Split.
Import and Export data, Protect/Unprotect sheets/workbooks. Worksheet formatting and Print Display

MODULE 6 – PAYROLL PROCESSING

PF Computation and Deposit of ECR
ESI Challan Deposit and Return
Taxability of Different Allowances and Perquisites
Deductions (Tax Savings) Under Chapter VI A
Salary (PF, ESI, Basic, HRA, DA, MA etc)

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