Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
How do I create a duplicate master for a TDS bill sundry?
If you want to create a duplicate master for TDS bill sundry please follow these steps:
Step 1: Go to administration menu then click on masters submenu
Step 2: Click on bill sundry and open the TDS bill sundry from modify or list
Step 3: Now click on copy or press the shortcut key F12
Step 4: Select duplicate master option after that duplicate master will appear rename the master and save it.
How is TDS accounted for in BUSY? Which accounts are used?
For use TDS follow these steps:
1. Go in Administration then go in configuration
2. Then go in Features/option then go in Tds/Tcs
3. Then Enable Tds feature and save configuration
4. Then Enable tds in party master
5. Then pass Accounting entry in journal voucher
6. You can create account under duties and taxes and take tax type Tds non salary as per your need and use some default account.
How do i enable TDS for applying in purchase?
To apply TDS for applying in purchase, you need to follow these steps:
Step 1: Go to administration menu then select configuration sub menu.
Step 2: Select features and options and click on TDS / TCS tab.
Step 3: Here, tick on enable TDS reporting and specify the necessary details then set warning only for purchase u/s 194Q and save.
Step 4: You also need to enable TDS in party's master for purchase.
Why is the TDS amount not equal for all my commission income entries in BUSY? The TDS deduction seems inconsistent.
If the TDS amount not equal for all my commission income entries in BUSY then check below report.
Step 1: Click on Display
Step 2: Then TDS/TCS reports
Step 3: Then Audit Report
In this report if showing any entry then it means that the tds has not been deducted properly and If this report is showing blank then that tds entries has been done properly.
Why am I unable to find the relevant references when making a TDS payment adjustment entry in BUSY?
For finding the relevant reference then can check in the TDS report.
Pls follow the below steps :
Step 1: Click on Display menu
Step 2: Then TDS/TCS Reports
Step 3: Then TDS Deduction details
Step 4: Here select the tds category and check, might be that reference is already adjusted and if tds reference is pending then you are selecting the wrong voucher date in the payment entry.
I entered TCS but it is getting added to my purchase amount. How do I fix this?
If TCS is Going to add in Purchase amount then you can follow some steps:
Step 1: Go to Administartion and click on Master.
Step 2: Now click on Bill sundry and then select modify option.
Step 3: Now Check bill sundry typ and in affect accounting section disable the option Adjust purchase account and teg account for TCS and save the master.By doing this it will not refelect your purchase amount.
I've entered TDS deductions in BUSY, but they're not showing up correctly in the TDS report. What steps should I take to resolve this?
If the TDS deduction is not showing correctly in the TDS report then follow the below steps.
Step 1: Make sure you have properly created and adjusted the TDS references.
Step 2: Make sure you have mention the PAN number in the party master for calculating the correct TDS value.
Step 3: You can check the TDS audit report which shows in which vouchers are mismatch then correct it.
I want to add a line in my sales invoices along with a separate TCS amount. How can this be done in BUSY?
To add a line in your sales invoices with a separate TCS amount, follow these simple steps:
Step 1: Check if you have the TCS Bill Sundry available.
Step 2: In your sales invoice, choose the TCS Bill Sundry and specify the right percentage. The amount will be calculated automatically.
After completing these steps, the TCS Bill Sundry will be added to your invoice, along with the TCS amount.
Why is the TDS amount calculated after GST deduction when I need it before? How can I change this in BUSY?
If you want to deduct the TDS amount before GST then you need to set the TDS bill sundry confoguration to be deduct on taxable amount.
Pls follow the below steps.
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Bill sundry
Step 4: Select the TDS bill sundry
Step 5: On right side, Select amount of bill sundry to be fed as Taxable amount.
How can I configure TDS deduction to occur before GST calculation in BUSY?
If you want to deduct the TDS amount before GST then you need to set the TDS bill sundry confoguration to be deduct on taxable amount.
Pls follow the below steps.
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Bill sundry
Step 4: Select the TDS bill sundry
Step 5: On right side, Select amount of bill sundry to be fed as Taxable amount.