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A new GSTR-2B API is applicable from 14th Nov 2024, which affects auto-reconciliation of GSTR-2B for Oct-24. Stay tuned for our upcoming release, TallyPrime 5.1, which supports this and makes reconciliation even smoother.
https://help.tallysolutions.com/docs/te9rel66/Tax_India/tcs/getting-started-with-tcs.htm

Enable TCS

You can enable the TCS feature in Tally.ERP 9, provide surcharge details, record transactions and generate the required reports and returns.

1. Go to Gateway of Tally > F11: Features > Statutory and Taxation .

2. In the Company Operations Alteration screen, set Enable Tax Collected at Source (TCS) to Yes .

3. Enable the option Set/alter TCS details . The Company Operations Alteration screen appears as shown below:

4. Press F12 .

● Set Enable surcharge and cess details for TCS to Yes .

● Press Ctrl+A to save.

5. Enter the TAN registration number .

6. Enter the Tax deduction and collection Account Number (TAN) .

7. Select the Collector Type .

8. Enter the Collector branch/division .

9. Enable the option Set/alter details of person responsible to display the Person Responsible Details screen. Enter the relevant details:

Note:

♦ In Release 6.5.5 and later versions, you can enable the TCS features for a company located in Ladakh . You can select the State as Ladakh in the Person Responsible Details screen.

♦ The name of new union territory Dadra & Nagar Haveli and Daman & Diu is provided in Release 6.6.3 . All masters with Daman & Diu and Dadra & Nagar Haveli are automatically updated with the name of new union territory.

10. Press Enter . The TCS Collector Details screen appears.

11. Set Ignore IT Exemption Limit to:

● Yes , if you don't want to consider the IT exemption limit.

● No , if you want to consider the IT exemption limit.

12. Set Provide surcharge and cess details to Yes . This option appears only when you have set Enable surcharge and cess details for TCS to Yes in the configuration screen.

13. Enter the surcharge and cess details for each collectee status. You can enter the required surcharge slab details with the applicability date.

14. Press Ctrl+A to save the details.

Surcharge in Releases 6.6.1 and Lower Releases

In Release 6.6 and earlier, as there was only one surcharge amount with corresponding tax rate, the same was supported as shown below:

As new slab rates have been introduced for surcharge , the same is supported in Release 6.6.1.

1. On moving to Release 6.6.1, the surcharge details defined in Release 6.6 or earlier versions, will appear as the 1st slab against the respective collectee statuses. You can update the new slab rates with the applicability date.

2. After upgrading to Release 6.6.1, if you define new surcharge slabs and then downgrade to earlier releases, the surcharge details defined before the upgrade, will appear.

3. After creating the company in Release 6.6.1 with the surcharge slab details, if you open the data in Release 6.6 or earlier version, you need to define the surcharge details.

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