Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
The rental TDS is not getting calculated automatically. How can I fix this?
To fix the issue of rental TDS not getting calculated automatically in BUSY, you can try the following steps:
1. Check if the TDS category for rental expenses is set up correctly in the software.
2. Ensure that the TDS rate for rental expenses is entered accurately.
3. Verify if the rental expenses are categorized correctly in the software.
4. Make sure that the auto TDS calculation feature is enabled for rental expenses.
5. If the issue persists, you may need to contact BUSY customer support for further assistance.
What is the process to apply TDS under section Q in BUSY?
The process to apply the TDS under section 194Q in BUSY, then follow the below steps.
Step 1: You have to enable the TDS option from Features and Options under Administration Menu.
Step 2: You have to select the TDS category of 194Q in the expense account.
Step 3: Enable the Payee category and can set limit in the party master.
Step 4: Then during the purchase or journal voucher,the tds reference of 194Q will get create in the voucher and then adjust that reference during the TDS payment entry.
Does BUSY have an automatic reminder or prompt for TCS?
Yes, that's correct. BUSY software has an automatic prompt for TCS. Once you enable the TCS
option and also enable the warning for TCS, and enable the TCS option within the party master,
then any party that is eligible for TCS will receive a prompt message at the time of billing. The
prompt message will notify you that "The party is eligible for TCS, but you did not apply TCS.
" When you click "Yes" on that window, TCS will be applied automatically on the bill sundry in
that particular voucher.
I'm using BUSY on a client's system, and I can't access TDS reports. How can I gain access on the client's system?
If you are not able to enable the TDS,then make sure that you should open the company from the super user as sub user you have not given to rights to access it.Either give the rights to the sub user to access the reports or can open it from super user.
Pls follow the below steps for User Rights :
Step 1: Click on Administration
Step 2: Then Users
Step 3: Select the user and On Expand Menu Option can give rights to the user by tick the TDS option.
The TCS amount deducted by my vendor is not showing separately in my books. How can I account for TCS correctly?
To show TCS amount seperately which deducted by your vendor then you should properly tag TCS account in the TCS Bill sundry.
Pls follow the below steps :
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Bill Sundry
Step 4: Then Modify
Step 5: Select the TCS bill sundry
Step 6: In the left bottom, Accounting in purchase then select N the option adjust in purchase amount
Step 7: Then in account head to post option you have to tag the TCS account and save it.
I've created TDS entries with references in BUSY, but they're not appearing in the TDS report. What might be the reason?
If you have created the TDS references but still not showing in the TDS reports.
Pls follow the below steps.
Step 1: Make sure you have selected the correct date range or quarter while opening the tds report.
Step 2: If you have apply any filter then remove and check it in the report.
Step 3: Check that you have selected the correct TDS category in the report.
Step 4: If you are using the voucher approval then make sure it is approved then will reflect in the TDS report.
How can I link TDS payments and transactions recorded in BUSY to the TDS returns being filed? There seems to be no reconciliation.
You can link the TDS payment and transaction in by creating the TDS references either in the purchase or journal then adjust it in the payment voucher. Due to the TDS references data will reflect in the TDS report after that can generate the TDS ereturn file from below steps.
Step 1: Click on Print/Email/SMS
Step 2: Then TDS/TCS report
Step 3: Then e TDS return non salary
Step 4: Then specify the tds ereturn path for generating the file or can generate it in default location BUSYwin folder.
I am unable to see the TCS charges in the generated voucher. How can I ensure TCS is showing properly?
If the TCS charges is not able to see in the voucher,Then follow the below steps.
Step 1: Make sure that the TCS feature should be enable from the Features and Options under Administration.
Step 2: The TCS feature should be enable in the party master and set the applicability after limit.
Step 3: The TCS will show when the limit get crossed then get apply in the voucher.
Step 4: In the TCS bill sundry, the correct tcs account should be tag and default value should be zero.
I made a payment but the corresponding TDS amount is not getting adjusted automatically. What should I do?
If you made the payment but the corresponding TDS amount is not getting adjusted automatically then their might be following resons
1 Check the expense ledger it must be enable tds and tds category
2 check the party master it must enable tds on expense and tds on payment or purchase and payee category must be tagged
3 Check the TDS category does the threeshold limit proper and applying tds criteria for party with and without pan are correct or not if not then modify it
How can I link TDS payments and transactions recorded in BUSY to the TDS returns being filed?
You can link the TDS payment and transaction in by creating the TDS references either in the purchase or journal then adjust it in the payment voucher. Due to the TDS references data will reflect in the TDS report after that can generate the TDS ereturn file from below steps.
Step 1: Click on Print/Email/SMS
Step 2: Then TDS/TCS report
Step 3: Then e TDS return non salary
Step 4: Then specify the tds ereturn path for generating the file or can generate it in default location BUSYwin folder.