For payments attracting TDS, the relevant nature of payment is defined by the department with associated tax rate, section, payment code, and threshold limit. While creating a TDS Nature of Payment, you can press Ctrl+C to select the required nature of payment.
1. Go to Gateway of Tally > Accounts Info. > Statutory Info. > TDS Nature of Pymts > Create .
2. Press Ctrl+C to view the list of Nature of Payment .
3. Select the required Nature of Payment .
The Section and Payment code are displayed automatically.
4. Enter the Rate of TDS.
5. Enter the Threshold/exemption limit as applicable .
6. Click F12: Configure to configure more options .
Set the following options to Yes/No as required:
o Allow Single Bill Value
o Allow Transporter Category
o Allow Software Royalty
o Allow Rate details for others.
7. Press Ctrl+A to save the details.
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