Frequently Asked
Questions

Q: What could be the issue if the software applies an incorrect TDS rate despite correctly defining vendor PAN and TDS section?

To resolve the issue if the BUSY applies an incorrect TDS rate when PAN and TDS section already correctly defined. Pls follow the below steps : Step 1: Make sure that the TDS bill sundry configuration should be proper. Step 2: Make sure not to enter the TDS bill sundry manually in the voucher and default value in the bill sundry should be blank.

Q: I want to apply TCS to a transaction that has crossed the threshold limit. What steps should I follow in BUSY?

When the threshold limit get crossed then the TCS get charged automatically in the sales voucher from the below steps. Step 1: Enable the TCS feature from features and Options under Administration menu. Step 2: Enable the TCS option in the party master and set the applicability limit. Step 3: When the threshold limit get crossed then TCS reference window will get open automatically.

Q: What should i do if TCS account show incorrect in current year ?

If TCS account show incorrect in current year then follow the given steps : Step 1: Go to Last financial year by press F11 key Step 2: Then create TCS payable Account Step 3: Then create journal voucher and adjust all TCS reference in the TCS payable account Step 4: Then switch Financial year and check TCS payable account ledger

Q: Why is TDS data not showing in Form 26Q?

Note - Form 26Q is a report which displays the details of TDS which is deposited to the Government. TDS in Form 26Q will be only visible When Tds deposits to the Government from payment voucher. If TDS data not showing in Form 26Q follow the below steps: Steps 1 - Transaction→Payment→Select TDS ledger for debit account and bank/cash to credit account. Steps 2 - Display→TDS/TCS Reports→Form 26Q.

Q: How can I charge tcs on sale voucher?

For charge tcs in sale voucher follow below steps: Step 1: Go to administration then go to configuration Step 2: Now go to Features/options then go to Tds/Tcs menu Step 3: Enable Tcs and take warning only in warning for tcs in sale under section 206C(1H) and save configuration Step 4: Pass Sale voucher if tcs charge limit has been crossed it show warning to charge tcs.

Q: How can I charge tds on purchase voucher?

For charge tds in purchase voucher follow below steps: Step 1: Go to administration then go to configuration Step 2: Now go to Features/options then go to Tds/Tcs menu Step 3: Enable Tds and take warning only in warning for tds in purchase under section 194Q and save configuration Step 4: Pass purchase voucher if tds charge limit has been crossed it show warning to charge tds

Q: Why is the TDS amount not getting posted automatically in my books?

If the TDS amount is not getting posted automatically in the books then check the below steps. Step 1: Make sure that in the TDS bill sundry, The TDS account has been tagged properly then will show in the books. Step 2: If you pass the entry through the journal voucher, then make sure that the TDS account is correctly mentioned by you.

Q: How do i view the total TCS collected amount in BUSY?

To view the total TCS collected amount in BUSY, you need to follow these steps: Step 1: Go to display menu then select TCS reports option. Step 2: Select TCS collection details and can select either all category or selected category based on your requirements. Step 3: Click on all references then enter the date range and open the report. You will the tcs collected amount.

Q: How can I change the TDS category in expense account?

To change the TDS category in expense account, follow these steps: Step 1: Go to administration menu then Click on masters option. Step 2: Select Account tab and then choose the expense account from modify or list option. Step 3: Press enter after the account group, the TDS Information for Account window will appear. You can then change the TDS Category and save the account master.

Q: What is the difference between TDS and TCS deduction?

The difference between TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) deductions is that TDS is deducted from payments made to vendors or suppliers, while TCS is collected from customers or buyers at the time of sale. TDS is deducted by the payer and deposited with the government, whereas TCS is collected by the seller and deposited with the government.

Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report

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License Management/Softlock/Hardlock

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Dealer Complaint/Issues

What could be the issue if the software applies an incorrect TDS rate despite correctly defining vendor PAN and TDS section?

To resolve the issue if the BUSY applies an incorrect TDS rate when PAN and TDS section already correctly defined.
 Pls follow the below steps :
 Step 1: Make sure that the TDS bill sundry configuration should be proper.
 Step 2: Make sure not to enter the TDS bill sundry manually in the voucher and default value in the bill sundry should be blank.

I want to apply TCS to a transaction that has crossed the threshold limit. What steps should I follow in BUSY?

When the threshold limit get crossed then the TCS get charged automatically in the sales voucher from the below steps.
 Step 1: Enable the TCS feature from features and Options under Administration menu.
 Step 2: Enable the TCS option in the party master and set the applicability limit.
 Step 3: When the threshold limit get crossed then TCS reference window will get open automatically.

What should i do if TCS account show incorrect in current year ?

If TCS account show incorrect in current year then follow the given steps :
 Step 1: Go to Last financial year by press F11 key 
 Step 2: Then create TCS payable Account 
 Step 3: Then create journal voucher and adjust all TCS reference in the TCS payable account 
 Step 4: Then switch Financial year and check TCS payable account ledger

Why is TDS data not showing in Form 26Q?

Note - Form 26Q is a report which displays the details of TDS which is deposited to the Government.
TDS in Form 26Q will be only visible When Tds deposits to the Government from payment voucher.
If TDS data not showing in Form 26Q follow the below steps:
Steps 1 - Transaction→Payment→Select TDS ledger for debit account and bank/cash to credit account.
Steps 2 - Display→TDS/TCS Reports→Form 26Q.

How can I charge tcs on sale voucher?

For charge tcs in sale voucher follow below steps:
Step 1: Go to administration then go to configuration 
Step 2: Now go to Features/options then go to Tds/Tcs menu
Step 3: Enable Tcs and take warning only in warning for tcs in sale under section 206C(1H) and save configuration
Step 4: Pass Sale voucher if tcs charge limit has been crossed it show warning to charge tcs.

How can I charge tds on purchase voucher?

For charge tds in purchase voucher follow below steps:
Step 1: Go to administration then go to configuration 
Step 2: Now go to Features/options then go to Tds/Tcs menu
Step 3: Enable Tds and take warning only in warning for tds in purchase under section 194Q and save configuration
Step 4: Pass purchase voucher if tds charge limit has been crossed it show warning to charge tds

Why is the TDS amount not getting posted automatically in my books?

If the TDS amount is not getting posted automatically in the books then check the below steps.
 Step 1: Make sure that in the TDS bill sundry, The TDS account has been tagged properly then will show in the books.
 Step 2: If you pass the entry through the journal voucher, then make sure that the TDS account is correctly mentioned by you.

How do i view the total TCS collected amount in BUSY?

To view the total TCS collected amount in BUSY, you need to follow these steps:
Step 1: Go to display menu then select TCS reports option.
Step 2: Select TCS collection details and can select either all category or selected category based on your requirements.
Step 3: Click on all references then enter the date range and open the report. You will the tcs collected amount.

How can I change the TDS category in expense account?

To change the TDS category in expense account, follow these steps:
Step 1: Go to administration menu then Click on masters option.
Step 2: Select Account tab and then choose the expense account from modify or list option.
Step 3: Press enter after the account group, the TDS Information for Account window will appear. You can then change the TDS Category and save the account master.

What is the difference between TDS and TCS deduction?

The difference between TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) deductions is that TDS is deducted from payments made to vendors or suppliers, while TCS is collected from customers or buyers at the time of sale. TDS is deducted by the payer and deposited with the government, whereas TCS is collected by the seller and deposited with the government.

Frequently AskedQuestions