You can create an accounting voucher for transport-related expenses, along with the applicable TDS.
Section 194C of Income Tax Act is amended to include TDS deduction of 1 % for individuals and Hindu Undivided Families owning more than 10 goods carriage, and at the rate of 2% in case of other payees. For others not owning more than 10 goods carriage at any time during the previous financial year, and who has furnished a declaration to this effect along with his PAN, no TDS is applicable.
Note: A TDS of 20% is applicable for parties without a valid PAN.
Scenario: Rekha Traders availed transportation services from ABC Transporters (owns more than 10 goods carriers) on 24-4-15 on which a TDS of 2% is applicable.
To create a journal voucher
1. Go to Gateway of Tally > Accounting Voucher > F7: Journal .
2. Click F2: Date to change the date to 24-4-2015 .
3. Debit Transport Expense ledger, by 50000 .
4. Credit ABC Transporter , amount is automatically filled.
5. Enter the required details in the Bill-wise Details screen.
6. Press Ctrl+A to save.
7. Credit TDS ledger, amount is automatically filled.
8. Enter Narration , if required. The journal voucher appears as shown below:
9. Press Enter to save the voucher.
Scenario: Rekha Traders availed transportation services from XYZ Transporters (owns less than 10 goods carriers) on 28-4-15.
To create a journal voucher
1. Go to Gateway of Tally > Accounting Voucher > F7: Journal .
2. Click F2: Date to change the date to 28-4-2015 .
3. Debit Transport Expense ledger, by 30000 .
4. Credit XYZ Transporters , amount is automatically filled.
5. Enter the required details in the Bill-wise Details screen.
6. Press Ctrl+A to save .
7. Enter Narration , if required. The journal voucher appears as shown below:
8. Press Enter to save the voucher.