Frequently Asked Questions

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.

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.

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.

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.

You can set up the different TDS rates for resident and non resident parties in the TDS category.
 Step 1: Click on administration
 Step 2: Then Masters
 Step 3: Then TDS Category
 Step 4: Select the TDS Category, then open and mention the tds rate for the payee category in the tds with PAN and TDS without PAN column and save it.

You can modify that tds voucher in which wrongly mention the tds category and in the party master add it the correct tds category.
 Pls follow the below steps :
 Step 1: Click on Transactions
 Step 2: Then Journal
 Step 3: Open that voucher in modify mode and enter the correct tds category and in the tds reference window should be same.

If your TDS entry in not showing under duties and taxes,then make sure you have selected the correct TDS account group as Duties and Taxes with TDS tax type.
 Can check from below steps :
 Step 1: Click on Administration
 Step 2: Then Masters
 Step 3: Then Account
 Step 4: Select the TCS account in modify mode and check the account group

How can we configure TCS deductions to be based only on the current years turnover. Kindly follow the following Steps.
 Step 1: Go to the Administration Menu
 Step 2: Click on Configuration option 
 Step 3: Select Features / Options
 Step 4: Click on TDS/TCS 
 Step 5: Within TDS/TCS configurtion Select NO to Check Prev.Yr Data for TCS u/s 206(1H) option.

You should have to run regenerate dual voucher for the changes done on TCS accounts after below steps.
 Step 1: When you do the changes in the bill sundry then re enter it that bill sundry in the voucher after removing from the F9 shortcut Key and save it.
 Step 2: Then after data backup run the regenerate dual voucher from housekeeping

If the total TDS amount showing as positive instaed of negative then check the TDS bill sundry. The bill sundry type should be subtractive.
 Pls 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 and check the bill sundry type as subtractive