https://help.tallysolutions.com/docs/te9rel64/Tax_India/tds/tds-budget-changes-2017-18.htm

Union Budget Changes for TDS - 2017-18

Two new nature of payments have been supported as per the Union Budget for the financial year 2017-18.

To create the nature of payments

1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > TDS Nature of Pymt > Create .

2. Press Ctrl+C to view the Nature of Payment .

3. Select Payment for Call Centre Charges , as shown below:

4. Enter the Rate , and other information. The TDS Nature of Payment Creation screen appears as shown below:

5. Press Enter to save.

Similarly, select Payment of Cash Consideration by Real Estate Developer to Property Owner , as shown below:

Note : Payment code for Payment of Cash Consideration by Real Estate Developer to Property Owner is not provided by TRACES , hence this field will be left blank.

6. Enter the Rate , and other information. The TDS Nature of Payment Creation screen appears as shown below:

7. Press Enter to save.

Booking Expenses for Payment for Call Centre Charges

To record a journal voucher

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

2. Debit the expense ledger predefined with the Nature of Payment as Payment for Call Centre Charges .

3. Credit the party ledger (predefined with PAN) and enter the amount. The TDS amount is calculated at 2% in the Bill-wise Details screen.

4. Credit TDS ledger predefined with the Nature of Payment as Payment for Call Centre Charges . The journal voucher appears as shown below:

5. Press Enter to save.

Booking Expenses for Payment of Cash Consideration by Real Estate Developer to Property Owner

T o record a journal voucher

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

2. Debit the expense ledger predefined with the Nature of Payment as Payment of Cash Consideration by Real Estate Developer to Property Owner .

3. Credit the party ledger (predefined with PAN) and enter the amount. The TDS amount is calculated at 10% in the Bill-wise Details screen.

4. Credit TDS ledger predefined with the Nature of Payment as Payment of Cash Consideration by Real Estate Developer to Property Owner . The journal voucher appears as shown below:

5. Press Enter to save.

Viewing Form 26Q Report

To view Form 26Q

1. Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > Form 26Q .

The Form 26Q report appears as shown below:

2. Press Enter to view the transaction details as shown below: