You can define the TCS nature of goods your business deals.
To create TCS nature of goods
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > TCS Nature of Goods > Create .
2. Press Ctrl+C and select the Name .
3. The Section number and Payment Code appears automatically .
4. Enter the Rate of TCS.
5. Enter the Threshold/exemption limit .
The TCS Nature of Goods screen appears as shown below:
6. Press Enter to save the details.
In the text file generated as per File Validation Utility (FVU) version 5.6, the letter C appears as remarks when transactions are recorded for all TCS natures when the party PAN is entered as:
● PANAPPLIED
● PANINVALID
● PANNOTAVBL
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