How to make entries for TDS in Tally 9

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.

thanx.

how to create 31 closing

pls. send me how to creat the ledger for tds deduction and entres in tally 9

i want to special information about tds service tax etc.

What is TDS can u explain me

I am waiting for your reply

how to make tds entries in Tally