Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
When recording payment for technical services in BUSY, which category should I select if it's not available?
While recording the payment for techinal services then you have to select the TDS Category of Fees for Technical services in the expense account.
Can I generate reports on TDS deductions from client payments in BUSY, and if so, how?
You can check the client TDS report by opening the TDS account ledger which you have created for maintaing the clients TDS in BUSY.
How can I apply TCS manually for a specific transaction in BUSY? What is the process?
If you want to apply the TCS for the specific transaction, then you need to add the TCS bill sundry manually in the voucher.
Can I skip filling the ward number if I do not have it for TDS?
It is recommended to mention all the relevant fields like PAN, TAN, Tds/Tcs circle, ward etc for error free Tds return generation from BUSY.
How is the Q form different from the Q form for TDS in BUSY?
The 24Q form is related to the TDS which is make on employee salary and form 26Q is related to the non salary TDS.
Why is TDS not applied automatically in certain cases?
If TDS is not get applied in the certain cases which are if your threshold limit or applicable limit has not get crossed.
I am trying to generate a TDS deduction report but some entries are missing. What should I check to ensure all TDS deductions are showing properly in the report?
If some entries are missing in the tds report then make sure that the tds references should have been created in the voucher.
I am unable to deduct TDS properly in the purchase bills. How can I ensure it deducts at the specified rate without affecting the taxable value?
If you dont want to affect the taxable amount then apply the TDS bill sundry after the GST bill sundry in the voucher.
How do I exempt certain vendors from TDS deductions in BUSY? What options should I configure?
If you want to exempt certain vendors from the TDS deductions then you need to disable the TDS feature from that vendor master.
How can I get the system to apply TDS at the rate of % instead of .% in purchase vouchers?
To calculate the correct TDS value in the purchase voucher then you need to enter the PAN number in the party master.