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FAQ-6 ( TDS ):

How to Record TDS Payment Entry in Tally.ERP 9

All the Tax deducted during a month is to be paid to the credit of Government on or before 7th of the next month. In case 7th of the month happens to be a Sunday or a bank holiday payment can be made on the next working day.

 

TDS amount shall be paid to the government account through any designated branches of the authorised banks, along with Income Tax Challan No.281.

 

In Tally.ERP 9, from Release 2.0 all the Tax/Duty payments have to recorded using S: Stat Payment Button to auto compute or manually enter the TDS amount to the government.

 

Procedure to record TDS payment entry

 

Go to Gateway of Tally> Accounting Vouchers > F5: Payment

·         In the Payment Voucher specify the payment date and click on S: Stat Payment (or press Alt+S)

 

Record TDS Payment Entry in Tally.ERP 9

   [13-13]

·         In Statutory Payment screen

·         In Type of Duty/Tax field select the Duty/Tax Type for which the tax payment to be made. select TDS from the list

Record TDS Payment Entry in Tally.ERP 9

   [13-14]

Note: The Types of Duty/Tax will be displayed based on the statutory features enabled in F11: Features for the Company.

·         Auto Fill Statutory Payment: Set this option to YES to auto calculate and fill the duty payable to the Government. Set this option to NO, if the user wants to manually select the duty ledger and duty bills. ABC Company wants the tax details to be auto filled to the payment voucher, hence the option Auto Fill Statutory Payments is set to Yes.

·         On setting the option of Auto Fill Statutory Payment to Yes, based on the Type of Duty/Tax selected Tally.ERP 9 displays the appropriate fields to fill the details.

·         In Section field select the section for which the payment is pending

 

Record TDS Payment Entry in Tally.ERP 9

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·         In Nature of Payment field select the nature of payment towards which the payment to be made.

 

Record TDS Payment Entry in Tally.ERP 9

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·         In Deductee Type select the applicable deductee type

·         In Cash/Bank field select the bank through which the payment is made

Completed Statutory Payment screen is displayed as shown

 

Record TDS Payment Entry in Tally.ERP 9

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·         Press enter to accept. The TDS amount payable will be auto calculated and displayed with the bill reference

 

Record TDS Payment Entry in Tally.ERP 9

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·         Set the option Provide Details to Yes to enter the challan details

·         In Provide Details screen enter the payment details like, Period for which the payment is made, Cheque/DD number, Cheque/ DD Date, bank details,Challan Number and Date.

Completed Provide Details screen is displayed as shown

Record TDS Payment Entry in Tally.ERP 9

   [13-18]

Completed Payment Voucher is displayed as shown

 

Record TDS Payment Entry in Tally.ERP 9

   [13-19]

 
 
 
 
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