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Accounting for TDS on Expenses

You can create an accounting voucher for your business expenses, along with the applicable TDS.

Scenario: On 30-4-2015, ABC Company paid MAR Tech Park ₹ 5,00,000 as rent.

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

2. Click F2: Date to change the date to 30-4-2015 .

3. Debit the Rent expense ledger.

4. Enter 500000 in the amount field.

5. Credit MAR Tech Park . The amount after TDS deduction will appear in the Amount field automatically.

6. Press Enter .

7. Enter the Bill-wise Details , as required.

8. Press Enter .

9. Credit the TDS tax ledger. The TDS amount will automatically filled in the Amount field.

10. Press Enter .

11. Enter Narration , if required. The Journal voucher appears as shown below:

12. Press Enter to save the voucher.