Frequently Asked Questions

If you are getting error while generating the TDS return from the BUSY then check below steps.
 Step 1: Make sure you BUSY version should be updated.
 Step 2: The TDS utility should be latest which you download from the TDS site.
 Step 3: When you generate the TDS return then check by entering the PAN number.

You have to deduct the TDS in the purchase voucher and TCS in the sales voucher.As TDS is charge on the expenses and Gross purchase when get cross above 50 Lakh as per govt norms.If you want add the TDS in the sales voucher then can manually add it for maintaing the record in BUSY for accounting.

If you can't see the TCS (Tax Collected at Source) column in your BUSY view, here's what you can do to make it visible:
 Step 1: Check the first TCS is enable or not .
 Step 2: make sure you've entered TCS-related data in your software.
 Step 3: Look for a Customize Columns option in BUSY view.

You can configure the TDS rate and categories from 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.

You can configure the TDS rate and categories from 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.

If the TDS entries are not showing in the TDS report,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 data range.

You have to deduct the TDS in the purchase voucher and TCS in the sales voucher.As TDS is charge on the expenses and Gross purchase when get cross above 50 Lakh as per govt norms.If you want add the TDS in the sales voucher then can manually add it for maintaing the record in BUSY for accounting.

To claim input tax credit for TCS (Tax Collected at Source) paid, you can adjust the TCS input with the regular tax to be paid, such as IGST, CGST, and SGST output. The process for TCS adjustment is similar to TDS adjustment. You can adjust the TCS input with the regular tax liability in your accounting software.

To apply TCS on scrap sales in BUSY, just follow these simple steps:
 Step 1: Go to Administration, then select Configuration, and choose Features/Options. From there, enable and set up the TCS feature.
 Step 2: In the sales voucher, pick the collection code as 'E' for scrap. This will automatically apply TCS on the scrap sales.

You can set the threshold limit for the TDS deduction in the TDS category.
 Pls follow the below steps 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 threshold for the payee category and save it.