Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
I want to set up different TDS warning and deduction thresholds for different parties in BUSY. How can I do that?
You can set the different threshold limit for the parties from the TDS Category but the TDS warning will be same for each party.
You can configure the threshold limit in the TDS Category from the below steps :
Step 1: Click on administration
Step 2: Then Masters
Step 3: Then TDS Category
Step 4: Select the TDS Category, then open and change the tax rate for the payee category in the tds with PAN and TDS without PAN column and save it.
Why is the TDS reference number not getting reflected in the payment voucher?
Their might be multiple reasons for not reflecting TDS reference number in the payment voucher
to solve it follow the steps
Step1 in payment voucher while the TDS reference box open select the proper tds category and
quarter for pick the reference number if its taken wrong then tds reference will not reflect
Step2 check the Tds entries properly does it generated tds reference if not then modify the
purchase or journal voucher of tds and create reference
How can I avoid the TDS prompt for BC transactions in BUSY?
To stop the TDS prompt for B2C transactions in BUSY, follow these steps:
Step 1: Go to the administration section and select masters. Then, choose account and click on modify. Search for the specific account master you need.
Step 2: Once you've opened the account master, click on the group option. You'll see TDS/TCS info. for Acc. Here, disable the TDS on expense booking option and save this master. This will prevent the TDS prompt for B2C transactions.
Why am I getting warnings and errors with TCS enabled in BUSY?
There could be several reasons why you are getting warnings and errors with TCS enabled in BUSY. Some possible reasons could be incorrect configuration of TCS settings, missing or incorrect TCS master entries for parties, incorrect TCS applicability limits, or issues with the software version. It is recommended to check the TCS settings and configurations in the software and ensure they are correctly set up. If the issue persists, you may need to reach out to BUSY customer support for further assistance.
How do I enter TDS deduction in purchase bills to ensure it reduces the taxable value before GST calculation?
You can record the vendor bill in BUSY when tds has already been deducted from below steps.
Step 1: Click on Transactions
Step 2: Then Purchase
Step 3: Then Add
Step 4: Then mention the required details and apply the TDS bill sundry then apply the GST in the voucher then TCS value reduced the taxable amount.
Step 5: When you save the voucher then TDS reference window will get open
Step 6: Check the TDS references details and save the voucher.
The TDS summary report is not showing complete information for the current quarter. How to troubleshoot this issue?
If your TDS summary report is not showing proper then pls follow the below steps.
Step 1: Make sure that the TDS category correctly tagged in the party master.
Step 2: Make sure that the TDS entries has been properly done in the voucher.
Step 3: Make sure that the TDS category has been properly tagged in the TDS bill sundry.
Step 4: Make sure that the TDS references amount has been correctly calculated as per PAN number or without PAN number.
What are the different file formats supported for uploading TDS returns on the income tax website?
You can generate the TDS return notepad file from BUSY. For TDS utility, you have to download the the tds site then specify the the file path which generated from BUSY, challan file and error file after that can upload it on tds portal.
Pls check the below steps.
Step 1: Click on Print/Email/SMS
Step 2: Then TDS/TCS report
Step 3: Then 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 changed the financial year and now TCS is not getting applied automatically like before. How can I fix this?
You have to check the TCS configuration which was set in the last year. Additionally, can check the option of TCS considering for the previous year is disable and the limit has not been crossed then TCS will not get charge.
Pls follow the below steps :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Then the TDS/TCS option
Step 5: Disable the option check previous year data for TCS u/s 194Q.
I am getting an error while generating my TDS report in BUSY. What should I do to resolve this?
To resolve the issue of getting an error while opening the TDS reports.
Pls check the below steps :
Step 1: Ensure that you have selected the correct date range. As the TDS report shows the data of the current financial year.
Step 2: Ensure that you are selecting the correct TDS category while opening the report.
Step 3: If you are getting any run time error then after the data backup, run the reindex database process from the housekeeping menu.
The TDS entries I created in BUSY are not tagged correctly. What are the correct tags I should use?
If the TDS entries are not tagged correctly in the BUSY, then follow below steps.
Step 1: Make sure the TDS feature is enabled from the features and Options.
Step 2: Tag the TDS category in the expense account and Enable the TDS option and mention the TDS applicability in the party master.
Step 3: In the TDS Bill sundry, Make sure to tag the TDS account in the option of Account head to post for Adjust in the purchase amount.