Frequently Asked
Questions

Q: How can I save changes to a voucher after modifying TDS categories in the accounting software?

If you have done the changes in the TDS bill sundry, Then pls follow the below steps. Step 1: When changes has been done then you need to enter in again the voucher. From F9 remove the bill sundry and add it again in the voucher. Step 2: For updating in bulk then after backup run dual voucher process from housekeeping.

Q: What is TCS and how do I charge it to parties with over Cr turnover?

TCS stands for Tax Collected at Source. It is a tax that is collected by the seller from the buyer at the time of sale. In BUSY, you can charge TCS to parties with a turnover exceeding 10 crores by enabling the settings in the party master. This will allow automatic deduction of TCS when the billing crosses the specified limit.

Q: How do I adjust TDS deducted on purchase bills with government TDS payments in BUSY?

You can adjust the TDS reference during the payment voucher. Pls follow the below steps : Step 1: Click on Transactions Step 2: Then Payment Step 3: Then Add Here DEBIT the TDS acccount and CREDIT the bank account. When you save the voucher tds reference adjustment window will get open, Then select the quarter and adjust the tds reference.

Q: Why is the TCS report not showing the tax collected figures correctly in BUSY Software?

The TCS report may not be showing the tax collected figures correctly in BUSY Software due to incorrect configuration or mapping of TCS accounts, deletion of the TCS category, or errors in voucher entry. It is recommended to check the configuration settings, ensure the TCS category is properly set up, and verify the accuracy of voucher entries to resolve the issue.

Q: What's the correct way to configure TDS rates and thresholds in BUSY?

You can configure the correct 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.

Q: I need to update TDS rates in BUSY. How can I do that?

You can update the TDS rate in the TDS category. Pls follow the 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.

Q: Why is TDS Rent on Land not capturing automatically in new entries?

The TDS rent on land not capturing automatically in the new entries then you have to check the below steps. Step 1: The TDS feature should be enable in the party master. Step 2: The correct TDS Rent on land category should be tag in the rent on land account. Step 3: The TDS catgeory threshold limit should be proper.

Q: How do I enable TDS calculation for all necessary voucher types?

You can enable TDS feature from the below steps. Step 1: Click on Administration Step 2: Then Configuration Step 3: Then Features and Options Step 4: Then click on TDS/TCS Step 5: Enable the TDS/TCS option Step 6: Mention the warning for TDS as per your requirement in the bottom. The TDS Calculation is applicable for all the voucher types.

Q: I want to find out the reason why TDS deduction is abnormally high for one party despite availability of PAN. What should I check in the software settings?

If TDS deduction is charging the higher amount then make sure to disable the previous year considering the TDS Value. Pls follow the below steps : Step 1: Click on Administration Step 2: Then Configuration Step 3: Then Features and Options Step 4: Then the TDS/TCS option Step 5: Disable the option check previous year data for TCS u/s 194Q.

Q: I made TDS entries for June month but they are not reflecting in the Q annexure report. What should I do to make them appear?

If the TDS entries are not showing in the TDS 26Q report of June month,then pls follow the below steps. Step 1: In 26Q report, The data shows when the payment is done for that reference. If the payment is pending then the data will show in this report. Step 2: Make sure that you have selected the correct quarter.

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

Taxation (GST/VAT/TDS/TCS/RCM)

Export/Import/Data Conversion

Errors (RTE/Ransome), Feedbacks and Bugs

Barcode, QR Code and Lable Printing

License Management/Softlock/Hardlock

Enquiry/Upgrade/Visit/Renewal

UMS Related Issue (Dealer Query)

Software Features

Implementation

Dealer Complaint/Issues

Enquiry/Upgrade/Visit/Renewal

Dealer Complaint/Issues

How can I save changes to a voucher after modifying TDS categories in the accounting software?

If you have done the changes in the TDS bill sundry, Then pls follow the below steps.
 Step 1: When changes has been done then you need to enter in again the voucher. From F9 remove the bill sundry and add it again in the voucher.
 Step 2: For updating in bulk then after backup run dual voucher process from housekeeping.

What is TCS and how do I charge it to parties with over Cr turnover?

TCS stands for Tax Collected at Source. It is a tax that is collected by the seller from the buyer at the time of sale. In BUSY, you can charge TCS to parties with a turnover exceeding 10 crores by enabling the settings in the party master. This will allow automatic deduction of TCS when the billing crosses the specified limit.

How do I adjust TDS deducted on purchase bills with government TDS payments in BUSY?

You can adjust the TDS reference during the payment voucher.
 Pls follow the below steps :
 Step 1: Click on Transactions
 Step 2: Then Payment
 Step 3: Then Add 
 Here DEBIT the TDS acccount and CREDIT the bank account. When you save the voucher tds reference adjustment window will get open, Then select the quarter and adjust the tds reference.

Why is the TCS report not showing the tax collected figures correctly in BUSY Software?

The TCS report may not be showing the tax collected figures correctly in BUSY Software due to incorrect configuration or mapping of TCS accounts, deletion of the TCS category, or errors in voucher entry. It is recommended to check the configuration settings, ensure the TCS category is properly set up, and verify the accuracy of voucher entries to resolve the issue.

What's the correct way to configure TDS rates and thresholds in BUSY?

You can configure the correct 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.

I need to update TDS rates in BUSY. How can I do that?

You can update the TDS rate in the TDS category.
 Pls follow the 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.

Why is TDS Rent on Land not capturing automatically in new entries?

The TDS rent on land not capturing automatically in the new entries then you have to check the below steps.
 Step 1: The TDS feature should be enable in the party master.
 Step 2: The correct TDS Rent on land category should be tag in the rent on land account.
 Step 3: The TDS catgeory threshold limit should be proper.

How do I enable TDS calculation for all necessary voucher types?

You can enable TDS feature from the below steps.
 Step 1: Click on Administration
 Step 2: Then Configuration
 Step 3: Then Features and Options
 Step 4: Then click on TDS/TCS
 Step 5: Enable the TDS/TCS option
 Step 6: Mention the warning for TDS as per your requirement in the bottom.
 The TDS Calculation is applicable for all the voucher types.

I want to find out the reason why TDS deduction is abnormally high for one party despite availability of PAN. What should I check in the software settings?

If TDS deduction is charging the higher amount then make sure to disable the previous year considering the TDS Value.
 Pls follow the below steps :
 Step 1: Click on Administration
 Step 2: Then Configuration
 Step 3: Then Features and Options
 Step 4: Then the TDS/TCS option
 Step 5: Disable the option check previous year data for TCS u/s 194Q.

I made TDS entries for June month but they are not reflecting in the Q annexure report. What should I do to make them appear?

If the TDS entries are not showing in the TDS 26Q report of June month,then pls follow the below steps.
 Step 1: In 26Q report, The data shows when the payment is done for that reference. If the payment is pending then the data will show in this report.
 Step 2: Make sure that you have selected the correct quarter.

Frequently AskedQuestions