Frequently Asked Questions

The TDS and TCS references not get carry forward to the next year.When previous year TDS and TCS reference are pending then can adjust that reference in the current financial year.
 Pls follow the below steps:
 Step 1: In the last year, you have to create the liability by name tds and tcs payable account under current liability
 Step 2: Go to the transaction and pass the journal voucher, DEBIT the tds and tcs payable account and CREDIT the tds and tcs account.While saving the voucher adjust the tds reference and add the bank details later when you do the payemnt.Then the balance will get carry forward in the tds payable account.
 Step 3: Change the financial year with new and changed masters from Administration menu.
 Step 4: Go to the transactions, Pass the tds and tcs payment entry through journal voucher. DEBIT the tds and tcs payable account and CREDIT the cash or bank account.

The TDS and TCS references not get carry forward to the next year.When previous year TDS and TCS reference are pending then can adjust that reference in the current financial year.
 Pls follow the below steps:
 Step 1: In the last year, you have to create the liability by name tds and tcs payable account under current liability
 Step 2: Go to the transaction and pass the journal voucher, DEBIT the tds and tcs payable account and CREDIT the tds and tcs account.While saving the voucher adjust the tds reference and add the bank details later when you do the payemnt.Then the balance will get carry forward in the tds payable account.
 Step 3: Change the financial year with new and changed masters from Administration menu.
 Step 4: Go to the transactions, Pass the tds and tcs payment entry through journal voucher. DEBIT the tds and tcs payable account and CREDIT the cash or bank account.

The TDS and TCS references not get carry forward to the next year.When previous year TDS and TCS reference are pending then can adjust that reference in the current financial year.
 Pls follow the below steps:
 Step 1: In the last year, you have to create the liability by name tds and tcs payable account under current liability
 Step 2: Go to the transaction and pass the journal voucher, DEBIT the tds and tcs payable account and CREDIT the tds and tcs account.While saving the voucher adjust the tds reference and add the bank details later when you do the payemnt.Then the balance will get carry forward in the tds payable account.
 Step 3: Change the financial year with new and changed masters from Administration menu.
 Step 4: Go to the transactions, Pass the tds and tcs payment entry through journal voucher. DEBIT the tds and tcs payable account and CREDIT the cash or bank account.

When you book the TDS entry that time we have to create the TDS reference and when you make the TDS payment then have to adjust it that tds reference.
 Step 1: Click on Administration
 Step 2: Then Configuration
 Step 3: Then Features and Options
 Step 4: Enable the TDS/TCS option
 Step 5: Open the party account and expense account in modify mode, then mention the TDS category in the expense account and Payee category in the party account.
 Step 6: Book the TDS expense entry through payment or journal voucher. DEBIT the expense account and CREDIT the party account and TDS account.
 When you save the voucher the tds reference will get create and can adjust the refernce during the TDS payment.
 Step 7: When you do the TDS payment, Then DEBIT the tds acccount and CREDIT the bank account. Adjust the tds reference which you have created in while booking the tds entry.

To troubleshoot errors while generating TCS returns from BUSY Software, you can try the following steps:
 1. Ensure that you have the latest version of BUSY Software installed. Check for any available updates and install them if necessary.
 2. Verify that you have correctly configured the TCS settings in BUSY Software. Double-check the TCS deduction/collection limits and categories to ensure they are set up correctly.
 3. Check if there are any errors or missing information in the vouchers related to TCS. Make sure that the TCS is showing up correctly in the vouchers and that it is calculating automatically.
 4. If you encounter any specific error messages, note them down and search for solutions in the BUSY Software documentation or contact BUSY Software customer support for assistance.
 5. If the issue persists, try refreshing or rebooting the BUSY Software. Sometimes, restarting the software can resolve temporary glitches or errors.

The reason TCS is deducted from your invoice is that you've initially set TCS on Rcpt./Sale u/s 206C(1H) as Applicable from start in the account master. To prevent TCS deduction for a specific party with a turnover less than 50 lakhs this year, follow these steps: 
 Step 1: Open the Administration Menu. 
 Step 2: Click on Masters. 
 Step 3: Select Account Menu. 
 Step 4: Under Account Menu, click on Modify. 
 Step 5: Choose the party's name for which you're receiving TCS deduction warnings, even for low-value invoices. 
 Step 6: After selecting the party, a window labeled TDS/TCS Info. for Account will appear. 
 Step 7: In the TDS/TCS Info. for Account window, use the drop-down menu for TCS on Rcpt./Sale u/s 206C(1H) and select the Applicable after limit option. This means TCS won't be deducted for that party until their turnover reaches the 50 lakhs limit.

In BUSY, TCS is not deducted automatically in purchase voucher entry. If the supplier charges TCS, you need to include the same TCS in your purchase invoice manually. To charge TCS on purchase voucher, follow these steps:
1.To create the TCS bill sundry for purchase invoice, follow these steps:
Step 1: Go to administration section then click on master menu 
Step 2: Choose the bill sundry option then click on add tab
Step 3: Create a bill sundry for tcs on purchase with additive nature and specify the tcs on purchase account under current asset in accounting in purchase field then save the bill sundry after required configuration.
2.To post the purchase entry with TCS, follow these steps:
Step 1: Go to transaction section then click on purchase voucher type
Step 2: Select the add option then create the invoices with required details and charge the tcs in bill sundry.
Step 3: After update the requird details, save the invoice.

When previous year TDS reference is pending then can make the payment in the current financial year. Previous year references not get carry forward in the next year, we have to adjust it in the previous from below steps.
 Step 1: In the last year, you have to create the liability by name tds payable account under current liability
 Step 2: Go to the transaction and pass the journal voucher, DEBIT the tds payable account and CREDIT the tds account.While saving the voucher adjust the tds reference and add the bank details later when you do the payemnt.Then the balance will get carry forward in the tds payable account.
 Step 3: Change the financial year with new and changed masters from Administration menu.
 Step 4: Go to the transactions, Pass the tds payment entry through journal or payment voucher. DEBIT the tds payable account and CREDIT the cash or bank account.

When previous year TCS reference is pending then can make the payment in the current financial year. Previous year references not get carry forward in the next year, we have to adjust it in the previous from below steps.
 Step 1: In the last year, you have to create the liability by name tcs payable account under current liability
 Step 2: Go to the transaction and pass the journal voucher, DEBIT the tcs payable account and CREDIT the tcs account.While saving the voucher adjust the tcs reference and add the bank details later when you do the payemnt.Then the balance will get carry forward in the tcs payable account.
 Step 3: Change the financial year with new and changed masters from Administration menu.
 Step 4: Go to the transactions, Pass the tcs payment entry through journal or payment voucher. DEBIT the tcs payable account and CREDIT the cash or bank account.

When previous year TCS reference is pending then can make the payment in the current financial year. Previous year references not get carry forward in the next year, we have to adjust it in the previous from below steps.
 Step 1: In the last year, you have to create the liability by name tcs payable account under current liability
 Step 2: Go to the transaction and pass the journal voucher, DEBIT the tcs payable account and CREDIT the tcs account.While saving the voucher adjust the tcs reference and add the bank details later when you do the payemnt.Then the balance will get carry forward in the tcs payable account.
 Step 3: Change the financial year with new and changed masters from Administration menu.
 Step 4: Go to the transactions, Pass the tcs payment entry through journal or payment voucher. DEBIT the tcs payable account and CREDIT the cash or bank account.