Data Entry and Recording:

• Tally allows businesses to record all financial transactions systematically, including income, expenses, and other relevant details.

Ledger Management:

• Users can maintain separate ledgers for various income and expense categories, ensuring accurate and organized accounting records.

Income Tax Reports:

• Tally provides features to generate Income Tax-related reports, such as Profit and Loss statements, Balance Sheets, and Trial Balances, which are essential for filing Income Tax Returns.

TDS (Tax Deducted at Source) Compliance:

• Tally facilitates the calculation and tracking of TDS on payments made to vendors, employees, etc. It also generates TDS reports required for compliance.

Advance Tax Calculations:

• Businesses can use Tally to estimate and calculate advance tax liabilities based on their projected incomes, helping them stay compliant with advance tax requirements.

GST-Compliant Invoicing:

• Tally supports the generation of GST-compliant invoices with the necessary details, such as GSTIN (Goods and Services Tax Identification Number), HSN (Harmonized System of Nomenclature) codes, and tax rates.

GST Return Filing:

• Tally enables the preparation and filing of GST returns, including GSTR-1 (for outward supplies) and GSTR-3B (for summary returns), streamlining the compliance process.

Input Tax Credit (ITC) Management:

• Tally assists in tracking and managing Input Tax Credits, ensuring that businesses claim the eligible credits on their purchases.

E-Way Bill Integration:

• Tally integrates with the E-Way Bill system, facilitating the generation and management of E-Way Bills for the movement of goods.

GST Reports:

• Tally provides a range of GST-related reports, such as GSTR-2A reconciliation, tax liability reports, and summary reports, aiding businesses in assessing their GST compliance.

HSN/SAC-wise Reports:

• Businesses can generate reports categorizing sales and purchases based on HSN (for goods) and SAC (for services) codes, as required by GST regulations.

GST Audit Trail:

• Tally maintains an audit trail, allowing businesses to trace changes made to transactions, ensuring transparency and compliance with GST requirements.