Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
I made multiple TCS entries in one voucher but only one reference number is getting generated. How can I have separate reference numbers for each TCS entry?
In one voucher only one TCS reference get maintain according to the party.For multiple tcs entries in single voucher not get maintain multiple reference.
I am trying to enter a TDS salary account, but it is asking for a reference. How can I enter TDS salary without providing a reference?
You can enter the TDS salary entry with the reference as without TDS salary reference you will not be able to save the voucher.
Why is the software not allowing me to enter TCS/TDS amounts for previous months or financial years? What is the correct way to do this?
In the software you can enter the transactions financial year wise. You can do the previous month transaction but not for the last year.
I'd like to apply TCS only on the current billing amount, not on the entire turnover. How can I configure this setting in BUSY?
If you want to apply tcs only in the current bill, then you have to add it tcs bill sundry manually in the voucher.
How can I automatically apply multiple deductions like TDS and GST to a single invoice in BUSY? Which settings should I adjust?
You can apply the GST in the BUSY after that can apply the TDS bill sundry of single TDS category in the single invoice.
The invoice shows correct TDS deduction but the ledger still displays the gross payment amount without considering TDS. How to resolve this?
If the ledger is not considering the TDS amount then make sure that the TDS bill sundry configuration should be proper in the voucher.
How do I adjust TDS before it shows up in the reports? What does "adjustment of TDS" mean in BUSY?
The adjustment of TDS is refer to the adjust the TDS payment reference which is created while charging the TDS in the purchase voucher.
I want to adjust TDS for multiple quarters in one go. Is there a way to do consolidated TDS adjustment?
In BUSY, there is no provision to adjust multiple quarters TDS in one voucher. You can create and adjust the TDS references wise voucher.
Can I get a report showing the total TDS deducted by different clients over a specific period in BUSY?
You can check the client TDS report by opening the TDS account ledger which you have created for maintaing the clients TDS in BUSY.
What Collection code should I have to mention in TCS reference window when it's appear while saving the voucher?
You can mention TCS Collection code on the basis of which Item you are selling.
-For sale of goods use"R" and for scrap use "E".