Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
Why is the TDS deduction window not opening for me in purchase vouchers when it works in journal vouchers?
If TDS deduction window not opening in purchase voucher then follow the steps
Step1 Go to administration menu and click on configuration then click on feature option
Step2 click on TDS TCS option and make warning for TDS in purchase Under section 194Q option
as warning only and save
Step2 Go to purchase voucher and check any tds bill sundry ledger have created or not
If created then check the adjust in purchase amount option has N and specify here option selected
and account head to post option should be tagged TDS ledger
Step3 if the gross payment turnover is less than 50 lakhs then tds will not be applied
I am facing issues with TDS deductions in vendor bills in BUSY. How can I troubleshoot this problem?
If your TDS entries are not getting posted correctly after saving the voucher, Then pls follow the below steps :
Step 1: For TDS 194Q, Make sure that you have mention the PAN number in the party master. As if we do not mention the PAN number then will get charge by 5 percent rate.
Step 2: For TDS Expense, Make sure you have mention the correct payee category in the party master.
Step 3: In TDS bill sundry, Make sure that TDS account is correctly tag and the option on which tds will be calculated.
Step 4: In TDS Account, Make sure that the correct TDS category should be tag in the tds account master.
The TDS amount is getting calculated incorrectly. How to ensure the TDS amount is calculated properly?
To ensure that the TDS amount is calculated properly in BUSY, you can follow these steps:
1. Check the TDS rates and categories: Make sure that the correct TDS rates and categories are set up in the software. Verify that the rates and categories match the applicable tax laws and regulations.
2. Verify the transaction details: Double-check the transaction details, such as the invoice amount, TDS rate, and applicable deductions. Ensure that all the necessary information is entered accurately.
3. Review the TDS calculation settings: Go to the TDS calculation settings in BUSY and verify that the settings are configured correctly. Check if any specific rules or conditions are affecting the TDS calculation.
Why is TCS not getting charged automatically like TDS even though I have enabled it?
If you unable to apply TCS in the voucher when limit is crossed 50 lakhs, Then follow the below steps.
Step 1: Make sure the TCS feature is enabled from the GST/VAT option from configuration under Administration.
Step 2: The TCS feature should be enable in the party master and set the applicability after limit.
Step 3: Mention the PAN number in the party master for calculating the correct TCS value.
Step 4: In the TCS bill sundry, the correct tcs account should be tag and default value should be zero.
Step 5: In the TCS Bill sundry, The tds deduction amount should calculate either on net bill amount or taxable amount as per your requirement.
What should I do when the BUSY is not deducting TDS in bills automatically?
If Tds is not deducting automatically in purchase voucher below are the steps to check:-
Step1: Check Is TDS Feature enabled from the TDS/TCS option and also enable a warning for the purchase voucher from there. This is under the feature and option from the configuration menu.
Step2: If it's enabled so check is TDS enabled within the party master or not also define the payee category there.
Step3: Then if the party is eligible for TDS then while saving the voucher a Window of "Not applied TDS will appear" you have to click on the yes option to apply the TDS.
Note: Criteria is if party turnover exceeds or reach up to 50 lac then TDS is being applied.
Why is the TDS not getting posted automatically when I record expenses?
When the TDS is not automatically get posted for an expense then you need to check the below steps.
Step 1: Enable the TDS feature in the party master.
Step 2: Mention the TDS category in the expense account
Step 3: Book the TDS expense entry through payment or journal voucher. DEBIT the expense account and CREDIT the party account and TDS account.
When you save the voucher the tds reference will get create and can adjust the refernce during the TDS payment.
Step 4: When you do the TDS payment, Then DEBIT the tds acccount and CREDIT the bank account. Adjust the tds reference which you have created in while booking the tds entry.
Why are my TDS entries not getting posted correctly after saving?
If your TDS entries are not getting posted correctly after saving the voucher, Then pls follow the below steps :
Step 1: For TDS 194Q, Make sure that you have mention the PAN number in the party master. As if we do not mention the PAN number then will get charge by 5 percent rate.
Step 2: For TDS Expense, Make sure you have mention the correct payee category in the party master.
Step 3: In TDS bill sundry, Make sure that TDS account is correctly tag and the option on which tds will be calculated.
Step 4: In TDS Account, Make sure that the correct TDS category should be tag in the tds account master.
I'm trying to set up automatic TDS deduction in BUSY, but it's not working. What steps should I take to ensure TDS is deducted automatically?
When the TDS deduction not working automatically in the BUSY,Then pls follow the below steps :
Step 1: For TDS 194Q, Make sure that you have mention the PAN number in the party master. As if we do not mention the PAN number then will get charge by 5 percent rate.
Step 2: For TDS Expense, Make sure you have mention the correct payee category in the party master and Set the applicability.
Step 3: In TDS bill sundry, Make sure that TDS account is correctly tag and the option on which tds will be calculated.
Step 4: In TDS Account, Make sure that the correct TDS category should be tag in the tds account master.
I am unable to apply TCS even though my sales have crossed the Rs lakhs limit. How can I resolve this?
If you unable to apply TCS in the voucher when limit is crossed 50 lakhs, Then follow the below steps.
Step 1: Make sure the TCS feature is enabled from the GST/VAT option from configuration under Administration.
Step 2: The TCS feature should be enable in the party master and set the applicability after limit.
Step 3: Mention the PAN number in the party master for calculating the correct TCS value.
Step 4: In the TCS bill sundry, the correct tcs account should be tag and default value should be zero.
Step 5: In the TCS Bill sundry, The tds deduction amount should calculate either on net bill amount or taxable amount as per your requirement.
I want to deduct TDS on employee salaries. What is the process to set up TDS deduction on salaries in BUSY?
If you want to deduct the TDS on employee salary then you need to use the payroll feature of BUSY.
Pls follow the below steps.
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Option
Step 4: Then Enterprise feature
Step 5: Then click on payroll
Step 6: Then enable the TDS feature
Step 7: Go to the employee master and specify the TDS component in the salary structure
Step 8: Then mention the TDS component in the voucher series configuration for the salary voucher type.
Step 9: When you pass the salary calculation voucher then TDS also get deduct and show accordingly in the TDS salary report.