Recording Payment Transaction (TCS)

You can record the payment of TCS collected to department in a payment invoice using the Stat Payment button.

For example , on 05-05-2015, Sujatha Timber Company paid TCS to the government

To record a payment transaction

1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment

2. Click S : Stat Payment button.

3. Select TCS as the Tax Type .

4. Enter the Period From and To dates.

5. Enter the Collected Till Date .

6. Select the Section from the List of Section .

7. Select the Nature of Good(s) .

8. Select the Collectee Status .

9. Select the Residential Status .

10. Select either bank or cash ledger in the Cash/Bank field.

11. Press Enter .

12. Enter Narration , if required.

The Payment invoice will be automatically filled with the relevant details, as shown below:

13. Press Ctrl + A to save the invoice.