Sir, reg. TDS
If you have minimum transaction please follow the procedure.
1. Tally 9 Gateway Press F11 and go to Statuary & Taxation and Set Enable TDS as YES. then Ctrl. A
2. Then create a Ledger for eg. in the name of TDS- contract under the group Duties & Taxes ( Under C. liabilities).
a. Type of Duty or Tax select as TDS
b. Nature of Payment- as Payment to Contractors (Otherthan Advt. Contractor)
c.Ignore TDS Exemption limit- YES/ No. Then CTRL.A.
3. a. Then create another ledger eg. XYZ. company under the group of S.Creditors (job work).
b. Maintain Bill by Bill- YES.
c. Is TDS Applicable- YES. enter TDS details like Deductee type- whether Individual or Company. Then fill the required items.
4. Then create another ledger eg. Labour charges or Purchase others under the Group of Purchase A/c.
5.Enter the transaction in Purchase Voucher or Journal voucher.
a. Labour Charges A/c. Dr. Rs.10000
To XYZ co. A/c. Cr. Rs. 10000
b. In Gate of Tally goto Vocher entry then PRESS F7 for journal. Then Press Alt-S for TDS Deduction Journal.
c. XYZ. company A/c. Dr.Rs. 226 ( Tally will select only one transaction TDS amount automatically)
To. TDS Contract A/c. Cr. Rs. 226. (Save It)
Like the above you have to enter every transaction.
6. Then Payment entry
TDS contract A/c Dr. Rs.226
To. Bank A/c. Rs. 226.
OTHERWISE in Gateway F11 set TDS as No and in XYZ co. TDS applicable- NO.
you enter every transaction in Purchase a/c in Voucher mode not Invoice mode.
Like XYZ company A/c Cr. Rs.9774 (Manualy calculate Rs. 10000 x 2.266% =226 , then deduct it from Rs.10000)
Labour charges A/c. Dr. Rs. 10000
TDS contract A/c Cr. Rs. 226.
Month end Goto the ledger TDS contract -- Alt F8--- all items automatic column---- Export it in Excel format. By this you can found the Total amount of TDS to be paid.
Now you can make TDS payment
TDS contract a/c. Dr.Rs. 226
To Bank A/c. Cr. Rs. 226.
Note: This is my experience, so please consult with the experts.
Total thanks : 1 times