CA Srinivasa Rao Eluri M.Com., FCA

Dear Client You must be busier beginning the financial year. As always, changing into the new financial year is easy for a Tally user. It is a simple two-step process: • To change the  period to next year  – Go to  Gateway of Tally   , press  Alt+F2   and change the period. Balances from the previous financial year will be carried forward. • You can always refer back to previous data by pressing  Alt+F2   from  Gateway of Tally  and change the period to the preferred previous financial year. Please refer  TallyHelp  for more information

Ordinance issued to make PM CARES donations tax free   Delhi  : The government has issued an ordinance to give effect to the relaxation in several compliances including extension in last dates to June 30 for making investments in instruments such as National Savings Certificates, Public Provident Fund for claiming income tax benefits. Income tax Act, Benami Act are being sought to be amended via the ordinance - Taxation and Other LAws(Relaxation of Certain Provisions) Ordinance, 2020. The ordinance also seeks to amend the Income Tax Act to enable 100% deduction to donations made to the PM's Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund, set up to enable citizens to contribute to government’s containment efforts against the Covid-19 outbreak.