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FBT in Tally provides an easy-to-use and flexible interface. It allows the user to view and print FBT Reports and Challans.
Note: FBT can be processed for both Accounts Only and Accounts With Inventory companies.
Features of FBT in Tally
The FBT functionality in Tally supports the following features:
| • | Simple and user-friendly. |
| • | Quick and easy to set up and use. |
| • | Challan management and printing for prompt and accurate filing of tax. |
| • | One-time easy configuration to enable FBT. |
| • | You have to enter transactions; FBT is automatically calculated and generated in Reports. |
| • | The FBT Report has FBT Computation Report which displays detailed FBT calculations for each category under FBT. |
| • | The report also displays FBT (User-defined Ledger), Education Cess and Surcharge tax payable. |
| • | Allows you to generate, print and file ITNS 283 Challan from Tally. All categories and assessee types of FBT are incorporated in Tally. Any changes made are updated automatically and manual changes are not required. |
| • | FBT Assessee Type and FBT Category are displayed in the Statutory Masters with the details. Values in transactions are taken from here. Changes in details are updated automatically. |
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