How to e-file ITR 1

As the financial year ends, you need to collect proofs of income, investments, bank statements and expenses to file your income tax return. If you are a salaried or pension-earning individual, follow the simple steps listed below to file form ITR – 1.

Conditions

ITR-1 can be filed only by resident individuals who have income of up to Rs 50 lakh. The income can be from either of the following sources only:

1. Salary or pension
2. One property
3. Other sources such as interest income

Documents required

To file ITR-1, the following documents are needed:

1. PAN
2. Aadhaar
3. Form 16 issued by the employer
4. Form 26AS from TRACES

Where to file

To e-file a tax return, you should visit the website www.incometaxindiaefiling. gov.in and register with an user id (PAN) and password. If you are already registered, simply click on the registered user tab and add your login credentials to access the dashboard.

Process

Click on the ‘income tax return’ page. Select assessment year, ITR form and submission mode. You can select the ‘Prepare and submit online’ option and select the pre-filled fields. Click on a suitable e-verification option. General information like personal details need to be filled.

Income computation

Next, you will be taken to the computation page. After adding data in the tax computation details, the tax payable will be generated.

Submission of return

You can pay tax due using Net banking or your debit card. Once all details are filled and verified, a preview of the ITR will be shown for verification and changes, if any. If you are satisfied with the details entered, submit the return and complete the process.

All the new details required in income tax return forms for FY18-19

The ITR forms for the assessment year 2019-20 are out. Know the changes you need to watch out for.

The Central Board of Direct Taxes (CBDT) kickstarted the annual income tax return filing ritual recently. The new income tax return (ITR) forms for the assessment year 2019-20 come with a set of changes—essentially more detailed disclosures— taxpayers have to contend with.

While the last date for filing returns is 31 July, the changes and penal clauses for late filing mean one should start the process as soon as possible. Read on to understand the revisions in ITR 1 and 2 – the forms most relevant for individual, salaried taxpayers as well as pensioners. While ITR 1 and ITR 4 are already available on incometaxindiaefiling.gov.in for online filing, the others will be uploaded in due course.

New look ITR 1

The forms take into account announcements made during the Union Budget 2018-19. A field for standard deduction has been introduced—you can claim a flat deduction of Rs 40,000. Likewise, senior citizens can claim exemption of up to Rs 50,000 on interest from savings, fixed deposits as well as post office deposits.

This apart, the form asks taxpayers to specify the nature of income from other sources. Until last year, you only needed to mention the figure. You will also have to furnish details of any exempt income and the clause under which the tax benefit is allowed. This includes HRA claimed during the year.

More disclosures

ITR 2 now requires detailed information on the number of days spent in India while declaring the residential status. Until 2018-19, you had to simply choose between resident, resident but not ordinarily resident and non-resident options.

Non-resident taxpayers will have to report their overseas residency information along with taxpayer identification number. “Overseas Citizens of India (OCI) or Persons of Indian Origin (PIO) selecting residential status as ‘non-resident’ in India are required to report the actual number of days in the relevant financial year and also in the last four financial years immediately preceding the year.

House buyer’s information

If you have sold an immovable property, be prepared for tighter scrutiny. “You will have to mention the buyer’s name, PAN, transaction price and the address of the property,” says Archit Gupta, Founder and CEO, Cleartax.in. In case of multiple buyers, the seller will have to share details of each, along with share in ownership and amount. “The objective is to corroborate information provided by the seller and minimise scope for misreporting.

Changes in ITR forms relevant to salaried taxpayers

ITR 1 (Sahaj)

Use if...

You are an ordinarily resident invidividual with income from salary, pension and interest of up to Rs 50 lakh, agricultural income of up to Rs 5,000, and own one house.

Do not use if...

You are a director in a company or have invested in unlisted shares; or have capital gains/losses to declare

ITR 2

Use if...

You are a salaried individual or a pensioner who cannot use ITR 1.

Do not use if...

You draw income from any business or profession.

Restrictions on use of ITR 1

If you have invested in unlisted shares, you cannot use ITR 1 this year. It cannot be used by an individual who is a director in a company either. The form is relevant if your agriculture income is less than Rs 5,000. If it crosses this threshold, use ITR 2.

Disclosure of unlisted shares

In ITR 2, you have to provide details of all unlisted shares you hold. You will have to furnish the companies’ names, PAN, number of shares held by you, cost of subscription or purchase, issue/purchase price per share, shares transferred during the year and closing balance. “This could mean that unlisted companies’ employees, who have exercised their employee stock options (ESOPs), will also have to declare their holdings.

Other changes

ITR 1 (Sahaj)

1. Furnish details of exempt income like HRA and specify nature of income from other sources.
2. Field for standard deduction and exemption on interest from bank and post office deposits under Section 80TTB introduced.

ITR 2

1. Detailed information on number of days spent in and out of India to determine residential status.
2. Disclosure of information on unlisted shares.
3. Disclosure of house buyers, details in case you have sold a property.
4. Furnish details related to agricultural income including ownership, size, location and address and status on irrigation.

Agricultural income

Income from agriculture is another focus area in the forms this year. “Agricultural income exceeding Rs 5 lakh is now to be reported separately along with additional details such as name of the district with pin code, measurement of land, whether owned or leased and whether irrigated or rain-fed under the ‘exempt income schedule.

All about GSTR 3B

1.What is GSTR 3B ?

GSTR 3B is a simple return form introduced by the Government. A separate GSTR 3B form has to be filed for each GSTIN. GSTR 3B form does not require invoice level information. It only requires total values for each field, like a summary, for the month for which filing is done.

Filing GSTR 3B form is mandatory for all those who have registered for the Goods and Services Tax (GST). The GSTR 3B is a simple tax return form introduced by the  Central Board of Excise and Customs (CBEC) for the month of July and August. The forms - GSTR-1, GSTR-2 and GSTR-3 - for the months of July and August are to be filed in the month of September. In the interim, all GST registrants have to file GSTR-3B form .

It is must that you have a separate GSTR 3B file for each Goods and Services Tax Identification Number (GSTIN) you have. You can mention only total values for each field in this form; invoice level information is not required for this form.

An important point to note is that some portions of Part B of GSTR-3 will be automatically populated from GSTR 3B file. So, in case there is any discrepancy between the two forms you can correct GSTR-3 later and deposit the taxes payable.

2.Who has to file and what details to be furnished

The Goods and Service Tax mandates filing of GSTR 3B return even by those taxpayers with nil returns. It is a monthly self-declaration form that has to be filed by all taxpayers irrespective of the returns.

The details that have to be furnished in the form include:

Details of sales and purchase made by the registered taxpayer.

• Liable Input Tax Credit
• Liable Tax
• Tax Paid

GSTR 3B must be filed by everyone who has registered for GST. However, individuals such as - Input Service Distributors, Composition Dealers, Suppliers of online information and database access or retrieval services (who have to pay tax themselves as per Section 14 of the IGST Act, and Non-resident taxable person - do not have to file GSTR 3B.

Following registrants do not have to file GSTR-3B:

1. Input Service Distributors
2. Businesses registered under GST Composition Scheme
3. Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves.
4. Non-resident taxable person

9 Important Points About GSTR-3B

Before we take a deeper dive and understand this form, let’s first take a look at few important points that you should know:

1. GSTR 3B needs to be separately filed for each GST registration number.
2. It needs to be filed online only in the common portal i.e. www.gst.gov.in, there is no any offline utility provided which can be filled and uploaded into the system. In the post-login mode, one can access it by going to Services > Returns > Returns Dashboard. After selecting the financial year and tax period, GSTR 3B, (if applicable), in the given period.
3. It is needed to be filed even if it is a nil return.
4. Once filed, the form shall be final and there is no provision for revision of the return once filed. Any revision has to be done through while filing of GSTR -1, GSTR -2, GSTR -3.
5. Upon generation of GSTR 3, if actual liabilities are different from those declared in GSTR 3B, the system will update the delta (difference) between GSTR 3B and GSTR 3 automatically. In case of an upward revision of liabilities, one will be liable to pay differential tax along with interest on the (differential) amount.
6. Refund cannot be claimed under GST-3B since invoice-wise details in form GSTR 1 must have to be submitted for the matching of invoices and for processing of the refund claim.
7. All migrated taxpayers need to furnish all the information required under REG- 26 so as to file GSTR-3B. Therefore, if the details of enrolment for registration are not fully or properly submitted, then such person may not be able to file the GSTR-3B return.
8. Composition Dealers are not required to file GSTR-3B. They will be required to file quarterly return only.
9. If there is any tax payable then payment of such tax is mandatory for the filing of form GSTR-3B. In other words, GSTR-3B return cannot be filed without full payment of the tax due.

Why is it important to file GSTR 3B?

1. Since GSTR 3B is temporary in nature, some businesses might think that it’s not that important. However, you should know following things:
2. Not filing GSTR-3B may invite the penalty of 18% per year
3. GSTR 3B is required for preparation of filing further GST returns.
4. Same data can be used to file GSTR 1 .

3. GSTR 3B Format

GSTIN : This is a PAN India based 15 digit Goods and Services Taxpayer Identification Number (GSTIN) for each taxpayer. This column will be auto filled.

Name of the registered person : It will be auto filled at the time of logging into the common GST Portal. Trade Name, if any, should be separately provided.

Details of Outward supplies and inward supplies liable to reverse charge (Part A) : Here you need to capture the total taxable value (both intrastate and interstate) along with the total tax (IGST, CGST, SGST/UTGST) as applicable:

• Outward Taxable Supplies other Zero Rate, Nil Rate and Exempted
• Outward Taxable Supplies (Zero Rated)
• Outward Supplies towards Nil Rated and Exempted
• Inward Supplies liable to be paid on reverse charge basis
• Non GST Outward Supplies

Details of Inter‐State supplies made to unregistered persons, composition dealer, and UIN holders (Part B) : This table shows the bifurcation of the interstate outward supplies made to Unregistered Persons, Composition Dealers, and UIN Holders. These details need to be captured State‐wise/ Union‐Territory‐wise total with taxable value and total IGST levied on these supplies.

Details of eligible Input Tax Credit : Here in this table the summary of your eligible ITC available and the ITC reversals made by you to arrive at the Net ITC is captured.

ITC Availability (whether in Full or Part): Mention the break‐up of inward supplies on which ITC is availed. The following are the details you need to capture:

1. Import of Goods : The Tax credit of IGST paid on import of goods.
2. Import of Service : The Tax credit of IGST paid on import of services.

Inward supplies liable to reverse charge: Mention the GST paid on inward supplies which are liable for a reverse charge as, sponsorship services, and purchase from URD etc. other than import of goods or services. To know more, read inward supplies liable to reverse the charge.

1. Inward Supplies from ISD : Input tax credit received from Input Service Distributor (ISD).
2. All other ITC: Apart from above, ITC of other inward supplies has to be captured here.

Details of Input Tax credit to be reversed : Mention the ITC reversible on the usage of inputs/input services/capital goods used for the non‐business purpose, or partly used for exempt supplies. Also, if the depreciation is claimed on tax component of capital goods, and plant & machinery, then also the ITC will not be allowed.

The ITC available as reported when reduced by the amount of ITC to be revered as reported under this table, the resultant balance will be called your eligible ITC.

Details of Ineligible ITC : GST paid on inward supplies listed in the negative list is not eligible for Input Tax Credit (ITC). The details of GST paid on such supplies are recorded in this table. To know more, see the list of supplies ineligible for ITCIT

Details of exempt, nil‐rated and non‐GST inward supplies : Here you have been asked to give away the value of inward supplies pertaining to supply transactions with suppliers under composition scheme, nil rated and exempt supplies and Non GST supplies made during the tax period (for both inter state and intra state supplies carried out by you)

Payment of tax : In here you are required to declare the self-ascertained tax payable by you. This is based on the details of outward supplies and inwards supplies liable to be paid on reverse charge captured in Table No. 3 The tax-wise break-up of payment of tax by way of utilization of ITC and cash deposit needs to be provided.

TDS/TCS Credit : Here you are required to capture the details of TDS (Tax withheld by the Government establishment) and TCS (Tax withheld by E-commerce operator). However, these provisions are deferred from initial rollout of GST. Accordingly, TDS and TCS is not applicable till it is notified further.

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Govt extends deadline for GST sales return for March until Apr 23

The government has extended the last date for filing summary sales return, GSTR-3B, for March month by three days until April 23.

"Due date for filing GSTR-3B for the tax period March 2019 has been extended to April 23, 2019," a ticker on GST portal 'gst.gov.in' said.

The last date for filing summary sales return and payment of taxes for March is April 20, 2019.

What is stock valuation?

The stock valuation fundamentals aim to value the “Intrinsic” value of the stock that shows the profitability of the business and its future market value.

Stock valuation is an important tool that can help you make informed decisions about trading. It is a technique that determines the value of a company's stock by using standard formulas. It values the fair market value of a financial instrument at a particular time. The reason for stock valuation is to predict the future price or potential market prices for the investors to time their sales or purchase of investments.

 The stock valuation fundamentals aim to value the “Intrinsic” value of the stock that shows the profitability of the business and its future market value.

How to Value a Stock?

Valuing stocks is an extremely complicated process that can be generally viewed as a combination of both art and science. Investors may be overwhelmed by the amount of available information that can be potentially used in valuing stocks (company’s financials, newspapers, economic reports, stock reports, etc.).

Therefore, an investor needs to be able to filter the relevant information from the unnecessary noise. Additionally, an investor should know about major stock valuation methods and the scenarios in which such methods are applicable.

Types of Stock Valuation

Stock valuation methods can be primarily categorized into two main types: absolute and relative.

Stock valuation is usually divided into two groups:

1. Absolute Valuation.
2. Relative Valuation.

Absolute valuation intends to find the “intrinsic” value of the financial instrument. This method only focuses on the fundamental strengths of the company as the dividends, cash flow, and the growth rate for a single company.

1. Absolute

Absolute stock valuation relies on the company’s fundamental information. The method generally involves the analysis of various financial information that can be found in or derived from a company’s financial statements. Many techniques of absolute stock valuation primarily investigate the company’s cash flows, dividends, and growth rates. Notable absolute stock valuation methods include the dividend discount model (DDM) and the discounted cash flow model (DCF).

2. Relative

Relative stock valuation concerns with the comparison of the investment with similar companies. The relative stock valuation method deals with the calculation of the key financial ratios of similar companies and derivation of the same ratio for the target company. The best example of relative stock valuation is comparable companies’ analysis.

The methods used under Absolute Valuation are:

 Dividend Discount Model (DDM):

This is one of the basic calculations of the Absolute Valuation model. It calculates the true value of the company by assessing its dividend payout to its shareholders. According to this method, the dividend is the representation of the actual cash flow of the company. It shows the true value of the company’s share.

 Discounted Cash Flow model (DCF):

This method is suitable for companies that do not make regular dividend payments to its shareholders. The method uses the discounted future cash flow of the company to calculate its market value. The method is applicable for companies that pay a dividend or do not pay a dividend to their shareholders.

 Comparable method:

The Comparable method does not use any kind of parameters to find the market value. Instead, it compares the stock price multiples to a set benchmark value. The rationale for this method is that the similar financial instruments carry the same market value.

 Methods used under Relative Valuation:

Relative Valuation method uses ratio and other types of valuation methods to ascertain the value of the stock. The ratio is the most commonly used method as it is easy to calculate and is available at hand. The common ratios used are:

• Price per earning
• Earnings per share
• Growth rate
• Price-earnings-to-growth ratio
• Sum of Perpetuities method
• Return on assets
• Enterprise value
• Market capitalization
• Enterprise value-to-sales ratio

These ratios help the traders and the investors to calculate the fair value of stock and make informed decisions when transacting in the stock market.

 Bottom line:

If you intend to invest in the stock market, you can make use of ratios and methods to evaluate the value of a stock. However, valuation methods are not the only tool to conduct trade, and you should consider other parameters such as history of the company and its trend before trading. It is also prudent to conduct valuations of different ratios and find the average of them to obtain a clear market value of the stock.

Tax Structure & Taxation System In India

Tax Structure & Taxation System In India

India offers a well-structured tax system for its population. Taxes are the largest source of income for the government. This money is deployed for various purposes and projects for the development of the nation.

Taxes are determined by the Central and State Governments along with local authorities like municipal corporations. The government cannot impose any tax unless it is passed as a law.

Here are the salient features of the taxation system in India:

1. Role of the Central and State Government

The entire system is clearly demarcated with specific roles for the central and state government. The Central Government of India levies taxes such as customs duty,income tax, service tax, and central excise duty.

The taxation system in India empowers the state governments to levy income tax on agricultural income, professional tax, value added tax (VAT), state excise duty, land revenue and stamp duty. The local bodies are allowed to collect octroi, property tax, and other taxes on various services like drainage and water supply.

2. Types of taxes

Taxes are classified under two categories namely direct and indirect taxes. The largest difference between these taxes is their implementation. Direct taxes are paid by the assessee while indirect taxes are levied on goods and services.

A) Direct taxes

Direct taxes are levied on individuals and corporate entities and cannot be transferred to others. These include income tax, wealth tax, and gift tax.

• Income tax
• As per the Income Tax (IT) Act, 1961 every assessee whose total income exceeds the maximum exempt limit is liable to pay this tax. The tax structure and rates are annually prescribed by the Union Budget. This tax is imposed during each assessment year, which commences on 1st April and ends on 31st March. The total income is calculated from various heads such as business and profession, house property, salaries, capital gains, and other sources. The assesses are classified as individuals, Hindu Undivided Family (HUF), association of persons (AOP), body of individuals (BOI), company, firm, local authority, and artificial judiciary not falling in any other category.

B)Indirect taxes 

Indirect taxes are not directly paid by the assessee to the government authorities. These are levied on goods and services and collected by intermediaries (those who sell goods or offer services). Here are the most common indirect taxes in India:

  Value Added Tax (VAT)
This is levied by the state government and was not imposed by all states when first implemented. Presently, all states levy such tax. It is imposed on goods sold in the state and the rate is decided by the state governments.

• Customs duty
  Imported goods brought into the country are charged with customs duty which is levied by the Central Government. 
• Octroi
  Goods that move from one state to another are liable to octroi duty. This tax is levied by the respective state governments.
• Excise duty
  All goods produced domestically are charged with excise duty. Also known as Central Value Added Tax (CENVAT), this is paid by the manufacturers.
• Service Tax
  All services provided domestically are charged with service tax. The tax is paid by all service providers unless specifically exempted.

C) Goods and Service Tax (GST) 

As a significant step towards the reform of indirect taxation in India, the Central Government has introduced the Goods and Service Tax (GST). GST is a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India and will subsume many indirect taxes levied by the Central and State Governments. GST will be implemented through Central GST (CGST), Integrated GST (IGST) and State GST (SGST).

Four laws (IGST, CGST, UTGST & GST (Compensation to the States), Act) have received President assent. All the States & UT expected to pass State GST Act, by end of May 2017. GST law is expected to take effect from July 1, 2017.

3. Revenue Authorities

CBDT

The Central Board of Direct Taxes (CBDT) is a part of the Department of Revenue under the Ministry of Finance. This body provides inputs for policy and planning of direct taxes in India and is also responsible for administration of direct tax laws through the Income Tax Department.

CBEC
The Central Board of Excise and Customs (CBEC) is also a part of the Department of Revenue under the Ministry of Finance. It is the nodal national agency responsible for administering customs, central excise duty and service tax in India.

CBIC

Under the GST regime, the CBEC has been renamed as the Central Board of Indirect Taxes & Customs (CBIC) post legislative approval. The CBIC would supervise the work of all its field formations and directorates and assist the government in policy making in relation to GST, continuing central excise levy and customs functions.

The Indian taxation system in India has witnessed several modifications over the years. There has been standardization of income tax rates with simpler governing laws enabling common people to understand the same. This has resulted in ease of paying taxes, improved compliance, and enhanced enforcement of the laws. 

Shortcut Keys in Tally.ERP 9

1. What Do We Mean When We Talk About Usage of Shortcut Keys in Tally.ERP 9?

By shortcut key the attention is drawn to keyboard Shortcut keys as Tally software uses the keyboard functions to operate, journalize, and report the financial statements prepared for the users to interpret and to take decisions on the financial statements.

Keyboard shortcut key is a set of one or more key that helps to activate a function without the use of mouse. Short cuts invoke a command in tally software as an alternatives to mouse clicks or contentious use of Enter Key.

In Tally.ERP 9 there are shortcuts for almost all functions. This means that you can use tally software without touching mouse, which will help you in faster data entry, easy navigation, easy report viewing, easy printing, export import of data etc.

2. How to Categorize the Shortcut Keys in Tally.ERP 9?

In Tally.ERP 9, shortcuts are organized in such a way that even a newbie user can easily find out  by a glance on the screen.

The major Categories being :

Short cut Type	Explanation
F1 : - Shut Company -	·         Short cuts with single underline ·         With single line means ALT is the additional key used with the key displayed. ·         For example ALT + F1 is the shortcut for shutting the Company.
F8 : - Credit Note -	·         Short cut with double underline ·         With double line means CTRL is the additional key used with the key displayed in the screen. ·         For example  CTRL + F8 is the shortcut key for selecting Credit Note Voucher.
F2 : - Date -	·         The shortcut with no underline. ·         With no line means only the displayed key is the shortcut key of that function. ·         For example F2 is the key for date.

3. Combination Shortcut Keys in Tally.ERP 9

These are the most useful shortcut keys in tally for menu navigation. In menu you might have noticed some of the letters are in bold face with red color. If you press that red letter, tally will take you to that menu.

For example to generate a GST Report, the combination Shortcut key is as follows:

D > O > G FROM THE GATEWAY OF TALLY, AND YOU WILL REACH GST REPORT MENU.

4. Can We Use Shortcut Keys to Select Voucher Types?

Voucher Short cut keys shortcuts related to accessing voucher type for entering transactions. This include payment voucher, receipt voucher, purchase, sales voucher. There are buttons available for each and every accounting, inventory voucher types. But tally gives you the most user friendly way to access a voucher.

Shortcut Key	What is the function	Where to find
F1 : -	To select the company or to open the company.	On Gateway of Tally
CTRL + F1 : -	To select payroll voucher from Inventory Voucher/Accounting Screen	On Gateway of Tally > Inventory Voucher/Accounting Voucher > Payroll Voucher
CTRL + F2 : -	To select Sales Order Voucher from Accounting Voucher/ Inventory Voucher Screen	On Gateway of Tally > Accounting Voucher/ Inventory Voucher > Sales Voucher
CTRL + F4 : -	To select Purchase Order Voucher from Accounting Voucher Screen	On Gateway of Tally > Accounting Voucher / Inventory Voucher > Purchase Order Voucher
CTRL + F10 : -	To select memorandum voucher	On Gateway of Tally > Accounting Voucher / Inventory Voucher > Memorandum Voucher
CTRL + F9 : -	To select Debit Note Voucher	On Gateway of Tally > Accounting Voucher  > Debit Note
CTRL + F8 : -	To select Credit Note Voucher	On Gateway of Tally > Accounting Voucher  > Credit Note
F8 : -	To Select Sales Voucher	On Gateway of Tally > Accounting Voucher  > Sales Voucher
F9 : -	To select Purchase Voucher	On Gateway of Tally > Accounting Voucher  > Purchase Voucher
F7 : -	To select Journal Voucher	On Gateway of Tally > Accounting Voucher  > Journal Voucher
F6 : -	To select Receipts Voucher	On Gateway of Tally > Accounting Voucher  > Receipts Voucher
F5 : -	To select Payments Voucher	On Gateway of Tally > Accounting Voucher  > Payments Voucher
F4 : -	To Select Contra Voucher	On Gateway of Tally > Accounting Voucher  > Contra Voucher
ALT + J : -	To select Job work out order voucher	On Gateway of Tally > Accounting Voucher / Inventory Voucher > Job Work Out Order
ALT + W : -	To select Job work in order Voucher	On Gateway of Tally > Accounting Voucher  > Job work in order Voucher.

5. What are the Shortcut Keys We can Use While Passing a Voucher Entry in Tally.ERP 9?

Shortcut Key	Shortcut key function	Where to use
ESC : -	To remove what has been typed into the data field while preparing a voucher.	At all data entry or typing field
ALT + D  : -	To delete a voucher/ To delete a master	All the reports screen which can be viewed in columnar format
ALT + C : -	To create a master	At Voucher entry screen
ALT + X : -	To cancel a voucher	From day book or list of vouchers
CTRL + A : -	To accept a form.	Wherever you use this key combination, that screen or report gets accepted as it is. This is a quick save option.
CTRL + V : -	To toggle between invoice and voucher mode	At creation of Sales/ Purchase Voucher screen
ALT + I : -	Insert a Voucher	When you want to toggle between Item and Accounting Invoice
ALT + 2 : -	To duplicate a voucher	At sales ledger/ day book/ Ledgers > Place the cursor on the entry and press this short cut key to duplicate a Voucher.
CTRL + N : -	To switch to calculator	During all data entry

6. Shortcuts to Use While Generating Reports in Tally.ERP 9

These report specific Shortcut keys enhance the way you view and print the report of Tally.ERP 9.

Shortcut key	Key function	Where to use
ALT + N : -	To view the reports in automatic columns	Multiple column’s at all reports, Trail balance, Cash / bank books, group summary and journal register.
ALT + R : -	To remove / hide the line in a report	At all reports screen
ALT + P : -	To print the report	At all reports screen
ALT + E : -	To export the report in ASCII, Excel, HTML, PDF, XML format	At all reports screen
ALT + F1 : -	To view detailed report	At all reports screen

7. Shortcut Keys Related to GST in Tally.ERP 9

Tally ERP 9 is fully compatible with latest GST Compliance. Here there are few shortcuts for managing GST with tally.

Shortcut key	Usage	Where to use
Alt + J : -	To get statutory adjustment voucher	In journal voucher, In all GSTR Reports
Alt + S : -	To get statutory payment voucher	In payment voucher
CTRL + O : -	To open GST portal	In all GSTR Report
CTRL + E : -	To export return	In all GSTR Report
CTRL + A : -	To view accepted as it is	In all GSTR Report