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Record TDS Payment and Late Fee for TDS in TallyPrime

You can record TDS payments made to the government and payments made by another company on your behalf. You can also record the late fee payable for delayed TDS returns.

Record TDS Payment

Record the TDS amount paid to the government through a Payment voucher or account for TDS paid by another company on your behalf.

Record TDS Payment to the Government

Use a Payment voucher to record the TDS payment made directly to the government.

In the Payment voucher:

1. Press Ctrl+F (Autofill) and select the Type of Transaction as Stat Payment.
2. Select the Tax Type as TDS.
3. Enter the Period From and To dates and provide the required details in the Statutory Payment screen.
4. In Cash/Bank, select the bank or cash ledger.
   
   The payment voucher is populated with the relevant values.
   
5. Enter the required Bank Allocation details.
6. Press Ctrl+A to save the voucher.

The payment will be recorded.

Record TDS Paid by Another Company

If another company pays the TDS to the government on your behalf, record the corresponding adjustment using a Journal voucher.

In the Journal voucher:

1. Press F2 (Date) and enter the date of the payment.
2. Debit the TDS ledger.
3. Credit the company ledger that made the payment on your behalf.
   
4. Press Ctrl+A to save the voucher.

Record Late Fee for TDS

Record the late fee payable when a TDS return is filed after the due date.

In the Payment voucher:

1. In Account, select the cash or bank ledger.
2. Select the TDS tax ledgers and the relevant Nature of Payment.
3. Select the Late Fee ledger grouped under Indirect Expenses.
4. Select Late Fee from the list of Payment Types.
   
5. Enter the Amount on the payment voucher.
   
6. Press Ctrl+A to save the voucher.

Questions and Answers

1. Can I record TDS payment made on behalf of another company?
   Yes. You can record a Journal voucher, debit the TDS ledger, and credit the company that made the payment on your behalf.
2. When should I record the late fee for TDS?
   Record the late fee when the TDS return is filed after the applicable due date. Select the Late Fee payment type and the Late Fee ledger grouped under Indirect Expenses.
3. Can I record the TDS payment and late fee separately?
   Yes. TallyPrime supports recording the TDS payment and the late fee as separate payment transactions.