Frequently Asked Questions

The purpose of creating the TDS reference in the BUSY mention below.
 Step 1: You can easily track the tds category and party wise that for which references it is payment has been done or pending.
 Step 2: You can easily generate the TDS ereturn from BUSY. if you not maintain the TDS references then will not able to view data in tds report or generate ereturn.

In BUSY, the threshold limit is configured as per the TDS Category.You can modify the TDS Category from 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.

TCS full form is Tax Collected at Source. It is payable by the seller who collects in turn from the buyer.
while TDS full form is Tax Deducted at Source. Under this mechanism, if a person is liable to make payment to any other person will deduct tax at source and transfer the balance to the deductee. For more information contact to your CA or accounts specialist.

Increase in the TCS amount after regeneration, consider the following possibilities:
Step 1: Check if there have been modifications to transactions related to TCS
Step 2 : Verify whether new transactions have been added, existing ones modified, or deleted.
Step 3 : Review the audit trail report to find issue 
Step 4: Verify if there have been updates to party master data changes 
Step 5: check the transaction dates

If you have already pass the book entry for transporter expense then during the TDS payment you have to adjust that reference.
 Step 1: Click on Transaction
 Step 2: Then payment 
 Step 3: Then Modify
 Step 4: Open the payment entry then DEBIT the tds acccount and CREDIT the bank account. Adjust the tds reference which you have created in while booking the tds entry.

To link the TDS deduction to the gross purchase you have to select the invoice amount in the 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 Net bill amount.

The TDS references get automatically generated if you mention below details in the party master.
 Step 1: When you enable the TDS feature in the party master and set the applicability limit.For TDS 194Q, the TDS reference automatically get created after crossing the applicability limit.
 Step 2: For TDS expense, When the threshold limit get cross then will ask for appying the TDS in the voucher.

The party name doesnot show automatically in the form 26Q but shows according to the TDS category as per the goverment norms. 
 If you want to check tds report where party name will show, Then pls follow the below steps :
 Step 1: Click on display menu
 Step 2: Then TDS/TCS Reports
 Step 3: Then can check in tds deduction details and in form 26Q.

For entering the expense for a transporter then you have to select the TDS category as Contracts to Transporter from below steps.
 Step 1: Click on Administration
 Step 2: Then Masters
 Step 3: Then Account
 Step 4: Then Modify
 Step 5: Open the transporter expense account
 Step 6: Then do single enter on account group there TDS category window will get open and select it.

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.