Enable TDS Entry In Tally | Learn How To Record TDS Transaction In Tally Prime Step By Step Guide

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 

Gateway Of Tally >> Create >> TDS Nature Of Payment >> Create 

Step 4.2 Press F12 For Configuration

Press F12 For Configuration Setup 

Step 4.3 Nature Of Payment Creation Monthly Salary 

Gateway Of Tally >> Create >> TDS Nature Of Payment >> Create 

Step 5.1 Ledger Creation Audit Fee

Gateway Of Tally >> Create >> Ledger 

Now We Have Required Ledgers For TDS Record Create 

Step 5.2 Ledger Creation Create Salary A/c 

Gateway Of Tally >> Create >> Ledger

Step 5.3 Ledger Creation Create TDS On Audit Fee

Gateway Of Tally >> Create >> Ledger

Step 5.4 Ledger Creation Create TDS On Salary 

Gateway Of Tally >> Create >> Ledger

Step 5.5 Sundry Creditor Ledger Creation TATA PVT LTD 

Gateway Of Tally >> Create >> Ledger >> Create 

Step 5.6 Sundry Creditor Ledger Creation Ankit Mishra

Gateway Of Tally >> Create >> Ledger >> Create 

 Step 6.1 Pass Journal Voucher 

Gateway Of Tally >> Vouchers >> Journal Voucher

Step 6.2 Pass Journal Voucher

Gateway Of Tally >> Vouchers >> Journal Voucher

7 Go to Balance Sheet 

Gateway Of Tally >> Balance Sheet >> Current Liability 

Click On Current Liabilities

Press Alt + F1  For Details View 

Step 8.1 Pass Payment  Voucher 

Gateway Of Tally >> Vouchers >> Payment Voucher

Set Adjustment 

Step 8.2 Pass Payment Vouchers 

Gateway Of Tally >> Vouchers >> Payment Voucher

Set Adjustment 

Step 9 Go to Balance Sheet

Gateway Of Tally >> Balance Sheet >> Current Liability

Click On Current Liabilities

Now Your TDS Paid 

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