Record TDS Transactions in TallyPrime
In TallyPrime, you can record transactions that are subject to TDS and deduct tax when the expense or liability is recorded or when the payment is made, as applicable. TDS can be recorded on expenses, advance payments, interest payments, contractor payments, professional fees, rent, and other eligible transactions. You can also record a payment voucher for remittance of deducted tax to the government.
Record TDS on Expenses
Account for expenses with TDS deduction, including fixed assets, partial values, and cash-paid expenses.
Record TDS on Purchases
Account for purchases with TDS deduction, including software purchases and purchases involving inventory.
Record TDS on Advance Payments
Account for advance payments with TDS deduction, including advances paid to parties and suppliers.
Record TDS on Interest
Account for interest payments with TDS deduction, including overdue interest and interest on loans taken from parties.
Record TDS on Transport Expenses
Account for transport expenses with TDS deduction, based on the applicable TDS requirements.
Record TDS Payment and Late Fee
Account for TDS payments to the government, including applicable late fees.
Record TDS for Specific Tax Provisions
Account for TDS transactions under specific provisions, including Sections 194Q, 206AB, 194R, 194C, and Rule 37BC.
