Frequently Asked
Questions

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

FAQs

The TDS amount is being added to the net amount instead of being subtracted. Why is this happening and how can I correctly deduct TDS?

If the TDS amount is getting add in the voucher instead of subtracting then 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 select the bill sundry type as Subtractive and save it.

I am unable to find the TDS configuration settings in BUSY. Where can I locate the TDS and TCS configuration options?

You can enable TDS and TCS 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 and TCS as per your requirement in the bottom.

Why is the TDS amount showing as positive instead of negative when I try to deduct it from the invoice amount?

If the TDS amount is getting add in the voucher instead of subtracting then 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 select the bill sundry type as Subtractive and save it.

I created a salary component, but TDS is not getting deducted from employee salaries automatically. What could be the issue?

If the TDS is not deducted automatically from the employee salary then follow the below steps.
 Step 1: Make sure that the TDS feature should be enable from the enterprise feature of payroll.
 Step 2: The TDS component should properly tagged in the employee master and in the salary structure from voucher series configuration.

I am unable to add or select the TDS category for deduction. What should I do to add TDS categories?

You can add the TDS 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.

How do I change the TDS deduction from being an additive amount to a subtractive amount in BUSY?

If the TDS amount is getting add in the voucher instead of subtracting then 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 select the bill sundry type as Subtractive and save it.

I want to apply for a TCS registration. What is the process for doing this in BUSY?

BUSY does not provide a specific process for applying for TCS registration. TCS registration is typically done through the government tax department or portal in your country. You may need to consult with a tax professional or refer to the guidelines provided by your local tax authority to understand the process for TCS registration.

The TCS and TDS reporting option is disabled in my software. How do I activate it?

Pls follow the below steps for enabling TDS and TCS in BUSY. 
 Step 1: Click on Administration 
 Step 2: Then Configuration 
 Step 3: Then Features and Options 
 Step 4: Enable the TDS/TCS option 
 Step 5: Mention the warning for TDS and TCS as per your requirement in the bottom.

How can I differentiate between TDS and TCS reports and understand their respective contents in BUSY?

TDS is the tax which is deducted on a payment made by a company to an individual, in case the amount exceeds a certain limit. TCS is the tax which is collected by sellers while selling something to buyers. TDS deduction is applicable on payments such as salaries, rent, professional fee, brokerage, commission, etc.

I am unable to disable TDS deduction in BUSY. How can I stop TDS from being deducted?

You can disable the TDS feature in BUSY 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.