We have already discussed about Vat and excise in tally and tds in tally.
However in day-to-day business transactions, some times you have to face some complex cases e.g. a sales or purchase transaction where both Vat and TDS is charged so how you will account this ?
This article will help you to record such transactions, where TDS on Expenses with Inventory applied for purchase vouchers
Example: On 2-8-2009 ABC Company received the bill for Rs. 52000 (for the supply of 1000 cartons @ 50 per carton and VAT @ 4%) from AK Enterprises. Cartons are printed with the company logo and other information as required on which (including the VAT amount) TDS is applicable.
The above transaction will be recorded in a Purchase Voucher
Step 1: Create Stock Item
Go to Gateway of Tally > Inventory Info. > Stock Item > Create
- In the Name field enter the