Creating TCS Ledger

To create a TCS Ledger:

Go to Gateway of Tally > Accounts Info > Ledgers > Create

1. In the Ledger Creation screen, enter the name of the TCS ledger in the Name field.

2. In the Under field, select Duties & Taxes from List of Groups.

3. Select TCS from Types of Duty/Tax in the Type of Duty/Tax field.

4. Select the Nature of Goods/ Contract/ License/ Lease from the List of TCS Types.

5. Set Inventory Values are affected? to No.

Note: From Rel 4.8 an option to provide Bank Details is provided in the Ledger Master.

6. Press Enter to accept and save.