New Stat.900 Version is available free for existing Tally User

Major Enhancement are :

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 Rs. 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 Rs. 75,000 for Others
    • Rs. 1,00,000 to Rs. 1,25,000 for Severe Disability
  • Increase in yearly exemption limit for Person with Disability under Section 80U from
    • Rs. 50,000 to Rs. 75,000 for Others
    • Rs. 1,00,000 to Rs. 1,25,000 for Severe Disability.

Vat

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