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Course

GST, ITR, Payroll Certification Course

Duration

3 Months

Eligibility

10+2 Passed

The Tally Prime Certification Course is designed to provide a comprehensive understanding of Tally Prime, covering accounting, inventory management, taxation, and payroll. This program is ideal for students, accounting professionals, and business owners looking to enhance their financial management skills.

Module 1: Introduction to GST (Goods and Services Tax)
Unit 1: Overview of GST
  • What is GST? Purpose and benefits
  • History and evolution of GST in India
  • Structure of GST (CGST, SGST, IGST)
  • GST Law and Constitutional Provisions
  • Key Terminologies: Supply, Input Tax Credit (ITC), Reverse Charge, etc.
Unit 2: GST Registration
  • Who should register for GST?
  • Types of GST registrations (Regular, Composition, Casual, Non-Resident)
  • Step-by-step process of GST registration
  • Step-by-step process of GST registration
  • GSTIN, ARN, and its importance
  • Documents required for GST registration
Unit 3: Inventory Management
  • Different types of GST returns (GSTR-1, GSTR-2, GSTR-3, GSTR-9, etc.)
  • Filing GST returns – Due dates and penalties
  • Reconciliation of GST returns (GSTR-1 vs. GSTR-3B)
  • Annual return (GSTR-9) and its importance
  • GST Payment process and challan generation
  • Filing GST TDS/TCS returns
Unit 4: GST Invoicing and Documentation
  • Tax invoices, debit notes, and credit notes
  • Format and details required on GST invoices
  • Handling export and import invoices
  • E-way bill generation and compliance
  • GST on services and reverse charge mechanism
Unit 5: Input Tax Credit (ITC)
  • Eligibility for claiming ITC
  • Conditions for claiming ITC
  • Documentation required for ITC
  • Reversal of ITC and block credit
  • ITC on capital goods and imports
Module 2:Income Tax Return (ITR) Filing
Unit 1: Overview of Income Tax in India
  • Income Tax Act and its provisions
  • Taxable income categories: Salary, Business, Capital Gains, Other sources
  • Understanding income tax slabs for individuals, HUF, Companies, etc
  • Taxation on different sources of income (salary, rent, business income)
Unit 2: ITR Forms and Filing Process
  • Overview of different ITR forms (ITR-1 to ITR-7)
  • Which ITR form to use based on the nature of income
  • Filing ITR-1, ITR-2, ITR-3 for individual taxpayers
  • How to file an ITR: Online and offline methods
  • Documents required for ITR filing (Form 16, bank statements, deductions, etc.)
Unit 3: Deductions and Exemptions
  • Section 80C deductions (PF, Life Insurance, PPF, etc.)
  • Section 80D to 80U (Health insurance, education, etc.)
  • House Rent Allowance (HRA) and its exemptions
  • Deductions for capital gains
  • Exemptions on salary income (LTA, Gratuity, etc.)
Unit 4: Tax Calculation and Payment
  • How to calculate taxable income
  • Tax payable after applying deductions and exemptions
  • Advance tax and self-assessment tax
  • Tax computation for salaried, self-employed, and business income
  • Refund process: Filing for tax refund and tracking
Unit 5: Post-Filing Compliance
  • Acknowledgment of ITR filing (ITR-V)
  • Verification process and options
  • Rectification of mistakes after filing (via Section 154)
  • Notice from the Income Tax Department (Scrutiny and assessment)
  • Handling demands, penalties, and interest charges
Module 3:Payroll Management
Unit 1: Introduction to Payroll Processing
  • What is payroll? Importance of payroll in organizations
  • Key components of payroll: Basic pay, allowances, bonuses, and deductions
  • Payroll cycle and frequency (monthly, weekly, etc.)
  • Payroll systems and software tools
  • Role of HR, finance, and accounts departments in payroll management
Unit 2: Calculating Gross Salary and Net Salary
  • Components of salary structure (Basic, HRA, Special Allowance, Bonuses)
  • Deductions: Provident Fund (PF), Employee State Insurance (ESI), Professional Tax (PT)
  • Calculating taxable income from salary
  • Calculating net salary after deductions
Unit 3: Taxation of Salary and TDS
  • Understanding Tax Deducted at Source (TDS) on salary
  • TDS rates and their applicability
  • Salary components that attract TDS
  • Filing TDS returns for payroll and Form 16 generation
  • Tax planning and salary restructuring to minimize tax liability
Unit 4: Employee Benefits and Reimbursements
  • Understanding various employee benefits (health insurance, gratuity, bonuses)
  • Taxability of allowances and reimbursements (HRA, LTA, food vouchers)
  • Provident Fund (PF) and Employee Pension Scheme (EPS) management
  • Managing leave and absence records
  • Handling statutory benefits: Gratuity, Maternity Leave, etc.
Unit 5:Legal Compliance in Payroll
  • Statutory Compliance under Labour Laws (Payment of Bonus Act, Payment of Gratuity Act, etc.)
  • Minimum Wages Act and Payment of Wages Act
  • Social Security Benefits: EPF, ESI, Gratuity
  • Managing leave and absence records
  • Professional Tax compliance across different states
  • Filing of payroll-related statutory returns (ESI, PF, PT)
Unit 6:Payroll Software and Automation
  • Introduction to payroll software (e.g., Tally, QuickBooks, Zoho Payroll)
  • Using payroll software to generate payslips, Form 16, and reports
  • Automating statutory compliance (PF, ESI, PT calculations)
  • Integration with accounting and HRMS systems
Module 3:Payroll Management
Unit 1:Payroll Case Study
  • A real-life case study involving payroll calculations
  • Identifying salary components and processing payroll for employees
  • Handling tax calculation, TDS, and statutory deductions
  • Generating reports: payslips, Form 16, EPF/ESI reports, etc.
Final Project
  • Students will work on a project that involves complete payroll processing for an organization
  • They will calculate gross salary, net salary, and statutory deductions, and prepare reports
  • Submission of a final report on the project for review
Assignment Questions for Practice

• How do you create a new company in Tally Prime? Describe the steps and their significance.

• Define and explain the difference between Primary and Secondary Ledgers with examples.

• Explain how to configure GST in Tally Prime and set GST rates for goods and services.

• Illustrate how to record stock transfers between locations in Tally Prime.

  • Record the following transactions in Tally Prime:

    • ► Purchase of goods worth ₹50,000 with 18% GST.

    ► Sale of goods worth ₹60,000 with 12% GST.

    ► Payment of ₹5,000 for office rent.
    Job Profiles
    • Accountant
    • Accounts Executive
    • Taxation Executive
    • Payroll Executive
    • Inventory Manager
    • Finance Executive
    • Audit Assistant
    • Data Analyst (Financial)
    Salary Range
    • Entry-Level (0-2 years): ₹1.8 LPA to ₹3 LPA
    • Mid-Level (2-5 years): ₹3 LPA to ₹5 LPA
    • Senior-Level (5+ years): ₹5 LPA to ₹8 LPA
    • Freelancers and Consultants: ₹15,000 to ₹50,000+ per month
    • Trainers and Educators: ₹3 LPA to ₹6 LPA