TDS Full Form Is “Tax deduction at source” means of collecting tax on income, dividends, or asset sales by requiring the payer to deduct tax due before paying the balance to the payee. Under the Indian Income Tax Act of 1961.You Need A Company In Tally Prime For Record TDS Transaction In Tally. In This Post You Will Learn About To "How To Record TDS Transaction In Tally Prime Step By Step Guide.
Step 1 Create Company
Step 2 Enable TDS In Tally Prime By Press F11 Key
After Create Company You Have To Enable TDS Feature In Tally Prime For Record TDS Transactions. Press F11 Key For Enable TDS In Tally Prime. As You Tap Yes Then You Have To Fill TDS Details.
Step 3 Record TDS Details And Responsible Personal Name
As You Press Yes - On Enable Tax Deducted At Source (TDS), Here Fill These Details Like This
Note : Set / Alter Details Of Person Responsible
Fill Details Like This
TDS Ledgers And Nature Of Payment
Nature Of Payment | Expenses | Section | Threshold Limit | Rate Of Tax |
Fee For Professional Service | Audit Fee | 194K | 30,000 | 7.5% |
Monthly Salary | Salary | 192L | 600000 Year | 10% |
Step 4.1 Nature Of Payment Creation Fee For Professional Services
Step 4.2 Press F12 For Configuration
Step 4.3 Nature Of Payment Creation Monthly Salary
Step 5.1 Ledger Creation Audit Fee
Step 5.2 Ledger Creation Create Salary A/c
Step 5.3 Ledger Creation Create TDS On Audit Fee
Step 5.4 Ledger Creation Create TDS On Salary
Step 5.5 Sundry Creditor Ledger Creation TATA PVT LTD
Step 5.6 Sundry Creditor Ledger Creation Ankit Mishra
Step 6.1 Pass Journal Voucher
Step 6.2 Pass Journal Voucher
7 Go to Balance Sheet
Step 8.1 Pass Payment Voucher
Step 8.2 Pass Payment Vouchers
Step 9 Go to Balance Sheet
