Recording Payment Transaction (TDS)

You can record a payment transaction with inclusion of the necessary TDS to be paid to the government.

Scenario 1: On 05-05-2015, ABC Company paid TDS deducted in the month of April 2015 to the government directly.

To record a payment transaction

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

2. Click S : Stat Payment .

3. Select TDS as the Tax Type .

4. Enter the Period From and To dates.

5. Enter the Deducted Till Date .

6. Select the Section from the List of Section .

7. Select the required Nature of Payment .

8. Select the Deductee Status .

9. Select the Residential Status .

10. Select either bank or cash ledger in the Cash/Bank field. The payment voucher will be automatically filled with the relevant values.

The Statutory Payment Details screen appears as shown below:

11. Press Enter .

12. Enter the Bank Allocation details as required .

13. Enter Narration , if required.

The Payment invoice appears as shown below:

14. Press Ctrl + A to save the invoice.

Scenario 2: On 05-05-2015, XYZ Company paid the TDS deducted to the government on behalf of ABC Company.

1. Go to Gateway of Tally > Accounting Voucher > F7: Journal .

2. Click F2: Date to change the date to 05-05-2015 .

3. Debit TDS tax ledger.

4. Credit XYZ Company.

The Journal invoice appears as shown below:

5. Press Ctrl+A to save.