Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
How do I enter TDS deductions in BUSY?
If you want to enter TDS deductions in BUSY you can follow these steps:
Step 1: Go to administration menu
Step 2: Then click on configuration
Step 3: Then click on features and option
Step 4: Then click on TDS/TCS
Step 5: Then enable TDS reporting
Step 6: Then click on create default TDS categories
Step 7: Then select warning for TDS in purchase or payment u/s 194Q option as warning only
Step 8: Then save the changes
Step 9: After that enable tds in party master
Step 10: Then go to transactions menu
Step 11: Then you can do TDS entry through payment or purchase voucher etc
How do I generate the TDS/TCS reference numbers in BUSY after posting entries? The references are not getting generated automatically.
If TDS reference not get generated automatically, Then pls follow the below steps :
Step 1: Make sure you have enabled the tds option from features and options.
Step 2: 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 3: Make sure you have enable the tds option and mention the payee category in the party master.
Step 4: In TDS bill sundry, Make sure that TDS account is correctly tag and should have proper configuration.
How can I customize the tagging and linking of expenses like TDS to specific accounts heads as required?
To customize the tagging and linking the TDS expense in the specific accounts, Then pls follow the below steps
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Accounts
Step 4: Then Modify
Step 5: Select the account in which you want to apply tds
Step 6: Put the cursor on the account group then press enter key, the tds window will get open
Step 7: Enable the Tds booking on expense option and mention the payee category and save it.
Step 8: Open the expense account in modify and select the correct tds category
The old TDS bill entry applies TDS on the total invoice amount. I created a new TDS bill entry to apply TDS only on the basic amount. How can I make the system select the new TDS bill entry by default?
If default TDS bill sundry is not calculating the value as per your requirement then either you can modify the default bill sundry or you can create the new bill sundry as per your needs.
Pls follow the below steps for the bill sundry :
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Bill Sundry
Step 4: Then Add by some different name
Step 5: On right side, the amount of bill sundry to be fed as Select percentage and then item basic amount. Rest configuration will be the same as default bill sundry.
I want to record sample purchases separately from regular purchases for the same vendor. What is the correct way to do this without impacting TDS deduction?
If you want to record sample purchase separately from regular purchase for the same vendor,Then you can maintain the sub ledger without gst number and pan number this will not impact the TDS and tag in the main master.
Pls follow the below steps :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Then Accounts
Step 5: Enable the sub ledger details option
Step 6: Create the seperate account as sub ledger then tag in the main ledger
Step 7: Then pass the purchase voucher with different account.
How can I link sample purchase accounts to regular purchase accounts for TDS calculation if they have the same GSTN and PAN?
If you want to record sample purchase separately from regular purchase for the same vendor,Then you can maintain the sub ledger without gst number and pan number this will not impact the TDS and tag in the main master.
Pls follow the below steps :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Then Accounts
Step 5: Enable the sub ledger details option
Step 6: Create the seperate account as sub ledger then tag in the main ledger
Step 7: Then pass the purchase voucher with different account.
How do I add a new column in the TCS report to show PAN number before the party name in BUSY?
In the TCS report, You can add the custom column of PAN number from below steps.
Step 1: Click on Custom Column Option
Step 2: Mention the Format Name
Step 3: Click on Add New Column or Add New Row
For New Column :
Step 1: Mention the Heading, Position ,Data type Field and Alignment as per your need.
Step 2: Select the Field Value - Data Field
Step 3: Select the Category - Account Master then select the column field of account
Step 4: Select the PAN field and save it and reopen report with new format.
I'm unable to find options for statutory deductions like TDS and TCS in sales and purchase transactions in BUSY. How can I configure the software for this?
Pls follow the below steps for maintaining TDS and TCS in BUSY.
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS and TCS as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- as per your requirement and payee category.
Step 8: Then in purchase voucher will calculate automatically the TDS and TCS in the sale voucher and reference will get create.
Why is the TCS amount not reflecting correctly in my sales and purchase ledgers?
To resolve the incorrect TCS amount calculating in the voucher, then pls follow the below steps :
Step 1: Make sure that you have mention the PAN number in the party master for correct TCS deduction.
Step 2: Make sure that in the TCS account, you have selected the correct tcs tax type.
Step 3: In the TDS bill sundry, the correct tcs account should be tag and default value should be zero.
Step 4: In TCS Bill sundry, The tds deduction amount should calculate either on net bill amount or taxable amount as per your requirement.
Why is TDS not getting calculated automatically in BUSY even after enabling it?
When TDS rate is not calculating correctly in the voucher, Then pls follow the below steps :
Step 1: For TDS 194Q, Make sure that Skip TDS references should be No in the TDS configuration settings.
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.