https://help.tallysolutions.com/docs/te9rel60/Tax_India/TCS/TCS_Budget_2016_17.htm

Budgetary Changes 2016-17

As per the Union Budget for the financial year 2016-17, three new natures of goods have been introduced, which are described below.

     Sale of Motor Vehicle: Attracts 1% TCS if the value exceeds the threshold limit of Rs. 10,00,000.

     Sale in Cash of Any Goods (Other Than Bullion/Jewellery): Attracts 1% TCS if the value exceeds the threshold limit of Rs. 2,00,000.

     Providing of Any Services (Other Than Ch-XVII-B): Attracts 1% TCS if the value exceeds the threshold limit of Rs. 2,00,000.  

To create the nature of goods

1.    Go to Gateway of Tally > Accounts Info. > Statutory Info. > TCS Nature of Goods > Create.

2.    Press Ctrl+C to view the List of Nature of Goods.

3.    Select Sale of Motor Vehicle.

4.    Enter the Rate.

5.    Enter the Threshold/exemption limit as 10,00,000. The TCS Nature of Goods screen appears as shown below:

6.    Press Enter to accept.

Similarly, create the nature of goods for Sale in Cash of Any Goods (Other Than Bullion/Jewellery) and Providing of Any Services (Other Than Ch-XVII-B) as shown below: