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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/te9rel54/Tax_India/TCS/TCS_FAQs.htm

TCS - FAQ

This page provides all the FAQ related to TCS.

1.     How to enable TCS?

2.     What are the enhancements in TCS in release 5.4?

Masters

1.     How to create TCS nature of goods?

2.     How to create a party ledger?

3.     How to create sales ledger?

4.     How to create stock item?

5.     How to create TCS ledger?

Transactions

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?

7.     When a single payment voucher was recorded for parties whose deductee type belong to company and non-company with the same challan details, there was an error while validating the exported E-TDS text file using the  FVU E-TDS/TCS validation tool provided by the department. How to resolve this?

Reports

1.     How to generate Form 27EQ?

2.     How to file TCS returns?

Budget changes of 2016-17 in Release 5.3.8

1.     Which are the new TCS nature of goods implemented in Release 5.3.8? What is the exemption limit and rate of tax against those nature of goods?

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