Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
The TCS report output is not visible on my screen. What might be causing this issue, and how can I resolve it?
If the TCS report is not visible on your screen then make sure that the TCS feature should be enable from features and options. You should have proper user rights to access the report.
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 TCS option.
I want to deduct TDS at % on the net invoice amount excluding taxes. How can I do this in BUSY?
If you want to deduct the TDS of 1 percent then mention the PAN number in the party master. For charging the TDS on taxable amount in the bill sundry then follow the below steps.
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Bill Sundry
Step 4: Then Modify
Step 5: Open the TDS bill sundry then in Right side you have to select the amount to be fed as taxable amount.
I am trying to add TDS on contractors to my purchase bill deductions but I don't see the option to do so. How can I add this?
When unable to see the option for TDS deduction on purchase, then pls follow the below steps.
Step 1: Make sure the TCS feature is enabled from the GST/VAT option from configuration under Administration.
Step 2: Make sure that TDS on contractor account is properly tag in the expense account.
Step 3: In the TDS Bill sundry, make sure that the TDS on contractor is tagged properly in the adjust in purchase amount account head.
The voucher is not opening the old TDS auto-calculation as shown before. Can you help me find where the TDS auto-calculation option is now?
If the old TDS auto caculation reference is not showing in the voucher it means someone has disabled the TDS option.
You can enable the TDS feature in BUSY from below steps.
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Then click on TDS/TCS
Step 5: Enable the TDS/TCS option
Step 6: Mention the warning for TDS and TCS as per your requirement in the bottom.
My TDS deductions are not getting classified properly in the reports. How can I ensure correct classification and grouping of my TDS deductions?
If TDS deduction are not getting classified properly in the reports then follow the steps
Step1 need to ensure that you have deduct the tds properly in voucher
Step2 then go to display menu and click to TDS TCS reports and click on
TDS deduction reports non salary then click on all TDS category then click on all refernece then
click all deductee and then set the date range and ok
The TCS amounts are not showing properly in my balance sheet. What could be wrong and how can I correct it?
If the TCS amounts are not showing properly in the balance sheet then ensure that the TCS tagging should be properly done and the TCS entries in the voucher.To correct the TCS entries you can check the below report and correct it manually.
Step 1: Click on Display
Step 2: Then TDS/TCS reports
Step 3: Then Reconcile accounts and TCS
Step 4: Check if there is any difference showing for the voucher then correct it.
I need to make TCS payments every month but am unable to generate the forms in BUSY. What should I do?
If you're unable to make TCS payment every month in BUSY, the reason is as follows:
1.The BUSY is designed to generate TCS reports on a quarterly basis, and it doesn't offer the option for monthly reports.
If you have any documents or relevant details related to this issue, you can share them with the BUSY support team by sending an email to support@busy.in. They may be able to provide further assistance or guidance.
Why is the option to download TDS annexure not available in BUSY?
If you can't find the option to download TDS annexure in BUSY, here's what you can do:
Step 1: Go to the administration section and select configuration. Then, choose features and options and select TDS/TCS. Make sure the TDS option is enabled.
Step 2: Check if you are a sub-user. Sometimes, sub-users may not have the rights to access these reports. In that case, ask your superuser to give you access to these reports.
How are TDS treated differently for purchases vs. sales in BUSY?
In BUSY, TDS Tax Deducted at Source is treated differently for purchases and sales.
For purchases, you need to enable the in party master whose transactions with the company exceed 50 lakh and then it will auto calculate tds on purchase while saving the purchase voucher.
For sales, TDS you need to create a new bill sundry and apply that bill sundry in the sales voucher manually it will not calculate automatically.
I'm unable to adjust my TDS amount properly in the software. What might be causing this issue?
If the TDS amount is not adjusting properly in the BUSY then check the below steps.
Step 1: Make sure you have selected the correct TDS category in the TDS adjustment window for the quarter.
Step 2: Ensure that you have selected the correct voucher date for adjusting the TDS reference.
Step 3: Make sure you have selected the correct TDS reference and mention the correct amount in the voucher according to the TDS reference.