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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.

To create a journal voucher

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 Ctrl+A to save the voucher.