Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
Why is TDS being deducted from the taxable amount instead of the total invoice amount as specified in BUSY?
If you want to deduct the TDS amount on taxable then you need to set the TDS bill sundry confoguration to be deduct on invoice 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.
I am unable to view the TCS collection code in BUSY. How can I find and apply this?
You can only view the TCS collection code in the sales voucher in which you have applied the TCS.
Step 1: Click on Transactions
Step 2: Then Sales
Step 3: Then Modify
Step 4: Select the voucher in which applied the tcs and when you save the voucher then TCS window will get open and check it Collection code R for sale of goods and E for Scrap.
I've credited TCS in the sales invoice, but it's not reflected in the payment voucher. How can I resolve this?
If the TCS reference is not showing in the payment voucher then check below steps.
Step 1: Make sure you have selected the correct voucher date.
Step 2: Make sure to check the sub category code as mention in the sale invoice TCS window.
Step 3: If that TCS reference is already adjusted in the payment voucher earlier, then will not show again in the payment voucher.
The TDS deductions are not reflecting correctly in the tax returns generated from BUSY. How can I fix this?
If the TDS deductions are not showing correctly in the tds ereturn report. Pls check the below report and correct it in the TDS vouchers accordingly.
Step 1: Click on Display
Step 2: Then TDS and TCS reports
Step 3: Then Audit Report
Here you will get the TDS entries if there is mismatch in the vouche entry. you have to correct it then generate the return.
Can I apply TDS before or after GST in the voucher entry? What is the correct process?
You can do the TDS entry through the purchase voucher from the 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.
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.
Step 7: You can apply GST after TDS .
How do I deduct TDS at a specified rate on the total invoice amount in BUSY?
If you want to deduct the TDS at a specified rate on the total invoice amount then you need to mention the TDS percentage in the TDS bil sundry.
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: Then mention the TDS rate in the default percentage option.
Why is the system calculating TDS based on gross purchase value instead of net purchase value?
If you want to calculate the TDS on net purchase instead of gross purchase,you have to configure in the TDS bill sundry from 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.
How should I calculate TDS deduction on net purchase value instead of gross purchase value?
If you want to calculate the TDS on net purchase instead of gross purchase,you have to configure in the TDS bill sundry from 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.
How can I check if TDS is being deducted correctly in all my purchase entries?
To ensure that the TDS has been deducted properly in the all puchase entries then view the 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 edit or modify TDS-related settings for a vendor in BUSY after saving? How can I change TDS settings?
If you are a sub user and have modification rights then you can easily modify the TDS settings in BUSY.
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 account master modify option and save it.