TDS Adjustment Entry in a Karnataka VAT enabled Company
The journal adjustment
flags are provided as per the return form requirements of each state.
Go to Gateway
of Tally > Accountinf Vouchers > F7: Journal > Select the Voucher
Class created for VAT adjustments.
On selecting the voucher class in journal voucher
to account for the VAT Adjustments, the VAT
Adjustments list will be displayed in the Used
on the State and the Type
of Dealer pre-defined in the F3:
Statutory & Taxation Features.
Adjustments provided in the journal voucher for
Karnataka displays as shown:
Consider the example of
TDS Adjustment as shown below:
- Select TDS Adjustment in Used for field
- Debit Tax Payable created under Duties
and Taxes (Type of duty – Others) from the List of Ledger
- Select the Ledger Tax
Deducted at Source created under Current Assets to be
- The Amount is automatically entered
- Enter Narration if required
Press Enter to accept and save the