Other configurations

You can enable advance configurations for TCS in party masters. This will allow you to configure surcharge exemption limits, and income exemption limits. You can also set a zero or lower rate of TCS for party masters.

In this topic

Ignore Surcharge exemption limit

Ignore income tax exemption limit

Set zero/lower rate for TCS

Ignoring Surcharge Exemption Limit

To ignore surcharge exemption limit

  1. Click F12: Configure in the Ledger Creation screen.

  2. Enable the option Allow advanced entries in TCS masters.

  3. Press Ctrl + A to save the details. A new option Use Advanced TCS Entries will be available.

  4. Enable the option Use Advanced TCS Entries.

  5. Enable the option Ignore Surcharge Exemption Limit.

  6. Press Ctrl + A to save the details.

  7. Press Ctrl + A to save the party master.

Ignoring Income Tax Exemption Limit

To ignore income tax exemption limit

  1. Click F12: Configure in the Ledger Creation screen.

  2. Enable the option Allow advanced entries in TCS masters.

  3. Press Ctrl + A to save the details. A new option Use Advanced TCS Entries will be available.

  4. Enable the option Use Advanced TCS Entries.

  5. Select Applicable in the Set/Alter Ignore Income Tax Exemption Limit.

  6. Select the required TCS nature of goods from the List of TCS Nature of Goods.

  7. Select End of List to exit the screen.

  8. Press Ctrl + A to save the details.

  9. Press Ctrl + A to save the party master.

Set Zero/Lower Rate for TCS

To set zero or lower rate for TCS

  1. Click F12: Configure in the Ledger Creation screen.

  2. Enable the option Allow advanced entries in TCS masters.

  3. Press Ctrl + A to save the details. A new option Use Advanced TCS Entries will be available.

  4. Enable the option Use Advanced TCS Entries.

  5. Select Applicable in the Set/Alter Zero/Lower Collection.

  6. Select the required TCS nature of goods from the List of TCS Nature of Goods.

  7. Select the Section Number.

  8. Enter the Applicable From date.

  9. Enter the Applicable To date.

  10. Enter the rate of TCS in the TCS field.

  11. Repeat steps 6 to 10 for the required TCS nature of goods.

  12. Select End of List to exit the screen.

  13. Press Ctrl + A to save the details.

  14. Press Ctrl + A to save the party master.