Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
I want to apply TDS in sales vouchers but it is not working. What could be the reason?
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 and TCS is charge on the Scrap and Sales turnover when get cross above 50 lakh.
I want to create new ledger accounts for TCS. How can I add them correctly?
Pls follow the below steps for creating the TCS account in BUSY.
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Account
Step 4: Then Add
Step 5: Mention the tcs account name under group duties
Step 6: Then select the tax type as TCS and save it.
I have made changes to the TDS category should pick percentage according to the date, but it is still picking up the old settings. How can I update this in BUSY?
When you made changes to the TDS category but still picking old settings then follow the below steps.
Step 1: Make sure to apply the changes in the correct TDS category master.
Step 2: Make sure that you have selected the date from which new percentage of TDS is applicable.
I want to know if TDS reporting is enabled in my BUSY account. How can I check the status and enable it if needed?
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.
I am trying to enable TDS for a vendor in BUSY but I don't see the option. How can I activate TDS deduction?
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.
I want to generate TDS returns for the transport services where TDS was deducted. How can I filter that specific TDS data?
You can view the particular transport TDS category data in the TDS report from below steps :
Step 1: Click on Display menu
Step 2: Then TDS/TCS Reports
Step 3: Then TDS Deduction details
Here select the transport tds category and then apply filter on party to view the report.
What is the process to enable different features like TDS reporting in BUSY, and where can I find the configuration settings?
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.
I want to configure TDS or TCS deductions in BUSY. What percentage should I apply, and what is the process?
You have to enable the TDS feature from below steps.
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Then TDS/TCS option
Step 5: Enable the TDS Reporting
You can apply the TDS percentage as per the TDS PAN and without PAN.
I'm having trouble reconciling my TDS payments with the entries in BUSY. What should I check to resolve this?
You can reconcile the TDS payment references has been properly adjusted or not from the TDS reports.
Step 1: Click on Display menu
Step 2: Then TDS/TCS Reports
Step 3: Then TDS Deduction details
Here select all the TDS category and apply the filter on party then view the report.
The TDS Audit report is not showing any data even though bills are deducted. What could be wrong?
The TDS Audit report may not be showing any data even though bills are deducted due to incorrect mapping of TDS categories to the transactions. It is important to ensure that the correct TDS category is used for the transactions and check TDS reference is created properly in the voucher.