TDS/TCS

This topic lists all the product improvements and enhancements related to TDS/TCS made in Release 5.4.

TDS

●      In TDS, a new nature of payment Income in Respect of Investment in Securitization Trust is added. The section code and payment code for this nature of payment are 194LBC and LBC, respectively.

●      In TDS Challan ITNS 281, the Assessment Year was printed as 2017-18 for the TDS payment entry in April 2016 for the TDS deducted in 4th quarter (Jan to March- 2016). This issue is resolved.

●      In TDS party ledger, the Deductee Type - Local Authority was not available in Tally.ERP 9 release 5.x when data was migrated from Tally.ERP 9 release 4.93. This issue is resolved.

●      Company name was not printed in the exported TDS Form 26Q and Form 27Q. This issue is resolved.

●      When a category-wise TDS report was printed, the report was printed only with the party name. This issue is resolved.

●      An error message T-FV-2077 Deductor/ Collector type is mandatory was displayed while validating E-TDS text file which consisted of a party whose Deductor Type was set to Association of Person. This issue is resolved.

●      On printing TDS Challan Reconciliation report, it was not printing available details of the report. This issue is resolved.

●      If Form 26Q Deduction Details was viewed category wise and printed, the report appeared party wise, and not category wise. This issue is resolved.

●      In TDS Challan Reconciliation report, cheque number and date fields were mandatory for TDS duty payment transaction. This issue is resolved.

●      Journal entry with TDS deduction was consuming more time when compared to Tally.ERP 9 release 4.93. This issue is optimized.

●      TDS Challan Reconciliation report, was not displaying bank details provided in payment voucher, when TDS payment voucher was entered manually. This was occurring when the data was migrated from Tally.ERP 9 release 4.9x to Tally.ERP 9 release 5.x. This issue is resolved.

●      TDS outstanding report for TDS payable which was available up to Tally.ERP 9 release 4.93 is reintroduced in Tally.ERP 9 release 5.4 with deductee type for company and non-company separately.

●      When TDS duty payment transaction was recorded manually with interest, penalty or late fee, the details was not displayed under Payment Details section in Form 26Q computation report. When drilled down to Payment Voucher the values were displayed in the respective column. This issue is resolved.

●      Form 26Q and 27Q annexures which were available up to Tally.ERP 9 release 4.93 are reintroduced in Tally.ERP 9 release 5.4. Now the information of Form 26Q and 27Q annexures can be viewed by drilling in the following path:

Go to Gateway of Tally > Display > Reports > Statutory Reports  > TDS Reports > Form 26Q / Form 27Q > Payment Details > select the required TDS payment under Particulars > Payment Voucher > select the required party ledger and drill down to view the annexure 26Q/ 27Q information.

●      In TDS computation report, the PAN of the party was not displayed on drilling down from Deduction Details. This issue is resolved.

Now, F12: Configure is provided in Deduction Details screen to enable display of PAN. (TDS Reports > Form 26Q > Deduction Details > select the required Deduction Details > Press F12: Configure and set Show PAN to Yes). This provision is made for both party wise and category wise deduction details.

In TDS computation report, incorrect Tax Deductable value was displayed when TDS journal transaction was recorded with both TDS applicable and TDS not applicable expenses ledgers. This issue is resolved.

●      During journal voucher entry A: Other Charges Auto Fill was appearing for payroll related transaction. In the same journal voucher when Show Tax analysis Details for TDS was enabled in F12: Configure, the payroll autofill button was replaced with A: Tax Analysis for TDS. This issue is resolved.

TCS

●      TCS outstanding report for TCS payable, which was available up to Tally.ERP 9 release 4.93 is reintroduced in Tally.ERP 9 release 5.4 with collectee type for company and non-company, separately.

See Also