Tally.ERP 9 - Release Notes

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Tally.ERP 9 - Release Notes

Tally.ERP 9 Series A Stat.900 Version 242 Release Notes

 
Release Notes for Stat.900 Version 242
 
Enhancements
 
Tally.ERp 9 Notes - Payroll
 
In adherence to Budget 2015, the following changes have been supported, effective from 1 April 2015:
Revised slab rate of 12% to incorporate the increase in surcharge by 2% on super-rich individuals,
 
whose taxable income exceeds ` 1 Crore.
Increase in monthly exemption limit on Transport Allowance from
Rs. 800 to ` 1,600 for Others.
Rs. 1,600 to Rs. 3,200 for Physically Challenged.
 
Increase in yearly exemption limit on Mediclaim Insurance and Mediclaim Insurance
(Dependent) under Section 80D from
Rs. 15,000 to 25,000 for Others.
Rs. 20,000 to 30,000 for Senior Citizens.
 
Increase in yearly exemption limit on Expenditure for Medical Treatment for Handicapped
Dependent under Section 80DD from
Rs. 50,000 to ` 75,000 for Others
Rs. 1,00,000 to ` 1,25,000 for Severe Disability
 
Increase in yearly exemption limit for Person with Disability under Section 80U from
Rs. 50,000 to ` 75,000 for Others
Rs. 1,00,000 to ` 1,25,000 for Severe Disability
 
Tally.ERp 9 Notes - Value Added Tax
 
Jammu & Kashmir
 
In adherence to the state budget, the following VAT/Tax classifications have been provided,
effective from 1 April, 2015:
Purchases - Zero Rated
Sales - Zero Rated (Inter State)
 
Note: Currently, the values of transactions recorded using the aforesaid classifications will be
captured in the VAT Computation report. In the forthcoming product releases, the functionality will
be enhanced to capture the values of entries recorded, in the relevant VAT Forms.
 
 
Maharashtra
 
In adherence to the notification, to support the VAT rate of 26% on any other kind of Motor Spirit,
the following VAT/Tax classifications have been provided, effective from 1 June, 2012:
 
Input VAT @ 26%/Purchase @ 26%
Output VAT @ 26%/Sales @ 26%
 
Note: Currently, the values of transactions recorded using the aforesaid classifications for 26% VAT
rate will be captured in the VAT Computation report. In the forthcoming product releases, the
functionality will be enhanced to capture the values of entries recorded, in the relevant VAT Forms.
 
Tamil Nadu
 
In adherence to the state budget, the following VAT/Tax classifications have been provided,
effective from 1 April, 2015:
 
Inter-State Purchases - Exempted
Works Contract - Exempt
 
Note: Currently, the values of transactions recorded using the aforesaid classifications will be
captured in the VAT Computation report. In the forthcoming product releases, the functionality will
be enhanced to capture the values of entries recorded, in the relevant VAT Forms.