Tamil Nadu Open University (TNOU) 2009 Diploma Accounting Certificate Programme in Software Statutory compliance and advanced Reporting - Question Paper

CERTIFICATE EXAMINATION—
JANUARY, 2009.
Certificate Programme in Accounting Software
STATUTORY COMPLIANCE AND ADVANCED
REPORTING
Time : three hours Maximum marks : 100
PART A — (10 ´ three = 30 marks)
ans any TEN out of the subsequent ques..
1. How does Tally help in TDS Payment?
2. What is Advance Payment in TDS and how is it
adjusted?
3. Who can be a Seller under TCS?
4. How is a Service Tax payment made?
5. What is the Master Configuration needed for Job
Work Analysis?
6. How are Tracking Numbers useful?
7. Who can be a Dealer of Excisable Goods?
8. What is CENVAT Credit and who is eligible to take
this credit?
9. elaborate the characteristics of Fringe Benefit lax?
10. How can Fringe Benefit Tax be enabled in Tally?
11. What does the FBT calculation Report display?
12. What is a Ratio Analysis Statement in Tally and
how does it help the management?
PART B — (8 ´ five = 40 marks)
ans any 8 out of the subsequent ques..
13. How can 1 transfer pending Service lax payables?
discuss by giving an example.
14. elaborate Deemed Fringe Benefits? provide examples.
15. Write short notes on:
(a) Stock Summary
(b) Movement Analysis.
16. What is Tally Audit? How can you activate this
choice in Tally?
17. How can company data be split in Tally and what
should 1 ensure prior to splitting data?
18. elaborate the 2 kinds of printing and elaborate the
common printing options?
19. How can e-TCS Returns be filed and elaborate the
Forms to be furnished while filing the returns?
20. Write notes on :
(a) ASCII (b) HTML
(c) XML.
21. Why is Security Control needed and how can one
create Security Levels?
22. Write a note on the Export and Import capabilities
of Tally.
PART C — (1 ´ 30 = 30 marks)
Case Study (Compulsory)
23. Solve the provided issues
(a) Annamalai Agency, an advertising company, earns
its major income from advertising service, which comes
under the category Advertisement under Service Tax.
Credit adjustment availed is 20%.
(i) On 04/04/2007 Bills raised on Annamalai
Agency for advertisement is Rs.30,000 + Service Tax
@12% + Cess @ 3%, but the payment received from
party is Rs.10,000 only, then the exact amount of
Service Tax payable excluding Cess is?
(ii) How do you transfer ‘service tax payable’
balance from the previous financial year? Justify with
example.
(b) M/s Muthu Associates a Partnership firm into
consultancy business. The TDS details and transaction
details recorded for the firm are as follows:
Deductor : Muthu Associates
Deductee : Babu Consultancy.
Deductee Type: Partnership firm.
TDS nature of payment: Fees for Professional and
tech. Services (with advance payment)
Analyse the subsequent transactions and compute the
TDS.
(i) On 15/8/07 Advance payment of
Rs. 80,000 is made to Babu Consultancy towards
tech. Fees through cheque no. 725946 of ICICI
bank. This amount is before deduction of tax. (TDS
applicable @ 5%)
(ii) On 29/8/07 Babu Consultancy provide bill no.
324 against tech. fees for Rs.1,00,000.
(iii) On 30/8/07 TDS is deducted; income tax
@ 5%, surcharge @10%, Additional Surcharge @ 2% and
Additional Educational Cess @1% for the bill no.324
dated 29/8/07.
(iv) On 06/09/07 Payment of TDS amount to
Government through ICICI bank via cheque no.726348.
(v) On 10/9/07 Balance amount is paid to Babu
Consultancy. Through ICICI cheque no. 726358.
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Earning:   Approval pending.