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TDS (Tax Deducted at Source) in Tally.ERP9

In this lesson, we teach you about "HOW TO CONFIGURE TDS (Tax Deducted At Source) IN TALLY.ERP9. Our lots of viewers wants to know about utility of TDS (Tax Deducted at Source) in Tally.ERP9. Now, we present full tutorial on TDS in Tally.ERP9.
To configure TDS in Tally.ERP9 follow these steps:
1. Create an Expenses Account (See below image)


2. Create a Sundry Creditor Ledger (See below image)


3. Create a TDS Ledger: (See below Image)

After create all the ledgers, pass a journal Entry. On (Dr.) Expenses head enter Advertisement Expenses 100000, Cr. S.K. Advertisement Agency (Tally will automatic deduct tds on Rs. 100000 i.e. 2% = Rs. 2000 & show net amount Rs. 98000 to S. K. Advertisement Agency) set bill wise details according to your need, balance (cr.) select TDS - Advertisement (194C) for Rs. 2000.

Above entry is pass the liability effect of TDS amount and show deduction u/s 194C (Advertisement Expenses). Now make the payment entry of TDS. In Dr. side select TDS - Advertisement 194C enter the tds deduct amount i.e. Rs 2000, cr. select cash or bank for Rs. 2000, provide challan details and bank details like challan period, payment mode, cheque no., bank name, bsr code etc.

Now you can go to Gateway of Tally-Display-Statutory Report-TDS Reports & Choose what you want to print.

Below video will help to understand more on TDS in Tally.ERP9
Part-1
 

Part-2
 



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