This page provides all the FAQ related to TCS.
1. How to create TCS nature of goods?
2. How to create a party ledger?
3. How to create sales ledger?
1. How to record sale of goods attracting TCS?
2. How to record sale of TCS goods at lower rate?
3. How to record sale of TCS goods at zero rate?
4. How to record payment of TCS?
5. How to record payment of late fee?
6. How to record payment of interest and penalty?
As per the notification from the Director General of Income Tax (Systems), a separate payment is required for corporate and non-corporate deductees. A single payment can not be made for both type of deductees having the same challan details.
If a user is recording the TDS duty payment for both company and non-company deductees in a single voucher (Manual), the challan details need to be provided with suffix or prefix in Challan Reconciliation report before generating the E-TDS/TCS text file from Tally.ERP 9. In the exported E-TDS/TCS text file, user has to remove the challan number suffix or prefix details and save the file. This text file can now be validated successfully.
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