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Tds applicability on various sources

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Yasaswi Gomes new

Finance

3328 Points Posted on 18 May 2023

Hi,

For tally accounts, where are all the places tds is applicable?

I know 194 till 194S applicability.

Sales has tds

Purchases has tds

Bonus and gratuity has tds

Salary above a treshold has tds

Any other places where tds is applicable and does it have a formula for every source of deductions?

Txs

Replies (2)

Quick Summary

This discussion explores the various scenarios where Tax Deducted at Source (TDS) applies within Tally accounting software. The original poster inquired about TDS on sales, purchases, bonuses, gratuity, and salaries, seeking clarity on specific sections like 194 to 194S and any associated deduction formulas. While there was some initial confusion, it was clarified that TDS is indeed applicable to purchases, bonuses, and gratuity, alongside salaries exceeding a certain threshold.