Learn how to manage lower deduction of tds in tally for certain assesses to whom the ITO issued a valied lower TDS certificate. In tally.erp 9, it is very easy to manage calculation and other related matters for such deduction and calculation is automated.All you need is one time set up for lower deduction in the supplier’s master ledger account.
use the updated and latest version of tally.erp 9 to print tds certificate correctly. If you using older release, then update your software immediately . TDS In Tally is one of the most advanced and yet simplified features which makes life of an accountant easy.
This article is written by Varun, a Tally expert.The article offers the most simplest way to learn TDS entries in Tally.erp 9. Learn complete step by steps TDS tutorials and screen shots.
TDS stands for Tax deducted at sources. In other words Income tax department impose a liability on the person who makes a payment to deduct certain amount and deposit the same to Government treasury account to avoid tax evasion.
Many times situation arise when you raise an invoice to your client, on which your client is requires to deduct TDS and pays the balance amount to you.The amount so deducted by your client, he is liable to pay it to the Income Tax department, hence its a receivable for you which you have to claim from the Income Tax Department and not from your client.
Tally.erp 9 support excelling TDS management. However you must understand basic of TDS and the set up that is required to manage TDS. Download TDS help file and learn step by step TDS set up in tally.erp 9
A step by step guide to learn TDS in tally.erp 9. you may download the entire guidance note on tally.erp 9 for tds purpose from rapidshare which is uploaded by tallynine.com. Tally.erp 9 provides a complete automated entry set up for TDS
The post will explain in simple terms the meaning,understanding and creation of tds entry in Tally.erp 9,with journal entry for TDS and how to make necessary tds entry in tally. A great step by step tutorial will help people to activate and Generate TDS return, form No. 16A, and other TDS data.