Frequently Asked
Questions

Q: If the TDS rate is % but amount is in the invoice in BUSY, what does it mean?

If the TDS rate is 5% but the amount is 0 in the invoice in BUSY, it means that the invoice is being supplied to an SEZ and hence TDS is not applicable.

Q: How do I set up TDS calculation based on the sum of supplier invoice amount, loading/unloading, and commission?

When you want to calculate the TDS on the sum of Invoice amount and other charges.Then in TDS Bill sundry, You have to tick on the option Net bill amount for TDS Calculation.

Q: I want to apply both GST and TDS to an invoice with two line items, but it's only applying to one. How can I apply them to both items?

The GST and TDS will get apply in both the items if you apply the GST and TDS in the bill sundry.Make sure that the TDS bill sundry configuration should be proper.

Q: The party ledger balance is getting affected when I am testing TDS configuration changes in BUSY. How can I experiment with TDS without impacting actual books?

You can create the new party for testing the TDS configuration. This will not impact the any party ledger balance in BUSY. After testing the TDS configuration then can remove that entry.

Q: I'm unable to see one of my vouchers in the TCS report. Why is one voucher showing, but the other is not?

If one voucher is missing in the TCS report then make sure you have created the reference of that voucher. As without TCS reference data will not showing in the TCS report.

Q: BUSY is not asking for the challenge number during TDS entry. How can I enter the challenge number?

You can generate the TDS challan from the below option. Step 1: Click on Print/Email/Sms Step 2: Then TDS/TCS reports Step 3: Then Bank challan Step 4: Select the TDS and can preview then print it

Q: The TCS amount is going to Duty & Taxes head in BUSY instead of TCS. Why?

The TCS amount is going to the Duty & Taxes head in BUSY instead of TCS because it needs to be tagged under the TCS category in the Duties & Taxes section.

Q: Why is TDS being calculated at % even when the party has a PAN card?

If the TDS is being deducted 2 percent when already mention the PAN number in the party master.Then check the TDS bill sundry default value should be zero instead of 2 percent.

Q: What is the accounting entry for charging TDS to a party?

when tds charge from party journal entry may be expesnse account debit ,party account credit and tds account credit Note- For Accounting entry you can consult from your accountant or from your ca

Q: How to do period closing and TCS settlement in BUSY?

Book the TCS entry through sales voucher by adding the TCS bill sundry.When you save the voucher then tcs reference will get create and can adjust the reference during the receipt voucher.

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If the TDS rate is % but amount is in the invoice in BUSY, what does it mean?

If the TDS rate is 5% but the amount is 0 in the invoice in BUSY, it means that the invoice is being supplied to an SEZ and hence TDS is not applicable.

How do I set up TDS calculation based on the sum of supplier invoice amount, loading/unloading, and commission?

When you want to calculate the TDS on the sum of Invoice amount and other charges.Then in TDS Bill sundry, You have to tick on the option Net bill amount for TDS Calculation.

I want to apply both GST and TDS to an invoice with two line items, but it's only applying to one. How can I apply them to both items?

The GST and TDS will get apply in both the items if you apply the GST and TDS in the bill sundry.Make sure that the TDS bill sundry configuration should be proper.

The party ledger balance is getting affected when I am testing TDS configuration changes in BUSY. How can I experiment with TDS without impacting actual books?

You can create the new party for testing the TDS configuration. This will not impact the any party ledger balance in BUSY. After testing the TDS configuration then can remove that entry.

I'm unable to see one of my vouchers in the TCS report. Why is one voucher showing, but the other is not?

If one voucher is missing in the TCS report then make sure you have created the reference of that voucher. As without TCS reference data will not showing in the TCS report.

BUSY is not asking for the challenge number during TDS entry. How can I enter the challenge number?

You can generate the TDS challan from the below option.
Step 1: Click on Print/Email/Sms
Step 2: Then TDS/TCS reports
Step 3: Then Bank challan
Step 4: Select the TDS and can preview then print it

The TCS amount is going to Duty & Taxes head in BUSY instead of TCS. Why?

The TCS amount is going to the Duty & Taxes head in BUSY instead of TCS because it needs to be tagged under the TCS category in the Duties & Taxes section.

Why is TDS being calculated at % even when the party has a PAN card?

If the TDS is being deducted 2 percent when already mention the PAN number in the party master.Then check the TDS bill sundry default value should be zero instead of 2 percent.

What is the accounting entry for charging TDS to a party?

when tds charge from party journal entry may be expesnse account debit ,party account credit and tds account credit
Note- For Accounting entry you can consult from your accountant or from your ca

How to do period closing and TCS settlement in BUSY?

Book the TCS entry through sales voucher by adding the TCS bill sundry.When you save the voucher then tcs reference will get create and can adjust the reference during the receipt voucher.

Frequently AskedQuestions