Other Configurations (TCS)

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.