Record sales works contract details in vouchers with Sales - Works Contract as the Nature of Transaction. Deduction can be claimed for tax calculation.
To record a works contract transaction
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales > Tax Invoice.
2. Select the Party's A/c Name.
3. Select the Sales Ledger with Sales - Works Contract as the Classification/Nature.
4. Select the stock item, enter amount.
5. Enter the percentage or amount of deduction in the Deduction Claimed for Tax Calculation screen as shown below:
6. Select the VAT ledger.
7. Click A: Tax Analysis to display the Tax Analysis screen.
8. Click F1: Detailed to view the names of stock items in Tax Analysis screen.
9. Press Esc to return to sales invoice. The sales invoice appears as shown below:
10. Press Enter to save.