Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
I am unable to generate reports for TCS in the software.
If you are not able to generate the TCS report in BUSY. Make sure that the TCS feature is enable in the company.Then you can view report from the below steps.
Step 1: Click on Display
Step 2: Then TDS and TCS reports
Step 3: Then TCS collection details
What is TCS ?
Tax Collected at Source (TCS) is the tax payable by a seller which he collects from the buyer at the time of sale. As per new rules applicable from 1st October 2020, a seller selling any commodity to a party is required to collect TCS based on certain conditions.
Why am I not able to see certain forms like C in BUSY?
The 27C form is not available in the standard reports of BUSY. It is currently not possible to generate or access the 27C form within the software. However, you can provide feedback to BUSY regarding this issue and request the addition of the 27C form in future updates.
Why is the C form not available in the standard reports of BUSY?
The 27C form is not available in the standard reports of BUSY. It is currently not possible to generate or access the 27C form within the software. However, you can provide feedback to BUSY regarding this issue and request the addition of the 27C form in future updates.
Why am I unable to apply TDS on all parties at once?
If you have open purchase eligible for TDS report and not showing all parties for apply TDS then might be these reasons:
1. TDS is not enabled in the party master.
2. The limit for applying TDS has not been crossed.
3. You have opened the report with wrong date range.
How do I file TDS returns for deductions made in BUSY?
You can file TDS ereturn file from below steps.
Step 1: Click on Print/Email/SMS
Step 2: Then TDS/TCS report
Step 3: Then e TDS return non salary
Step 4: Then specify the tds ereturn path for generating the file or can generate it in default location BUSYwin folder.
Why am i unable to apply TDS on expense entry?
If you are unable to charge TDS on expense entry, check the possible reasons:
1.Ensure the TDS on expense booking option must be enable in TDS/TCS info for account window in party master.
2.Confirm that TDS on expense must be enable in expense account with speciFinancial Year the TDS category.
I am trying to add TCS to a purchase invoice, but it is getting subtracted instead of added. How can I ensure TCS gets added properly in BUSY?
If you want to add the TCS bill sundry of addictive nature then follow the below steps.
Step 1: Click on Administration
Step 2: Then Masters
Step 3: Then Bill Sundry
Step 4: Then Modify
Open the TCS bill sundry and mention the Bill Sundry type as Addictive.
I want to print TDS on contractors and TDS on purchase of goods separately. How can I generate separate reports for C and Q TDS?
You can print both the TDS category seperately by selecting one by one category data in the TDS report from below steps.
Step 1: Click on Display
Step 2: Then TDS/TCS reports
Step 3: Then TDS deduction details
Step 4: Select the tds category and check it
The TDS amount is getting rounded off, but I need the exact TDS amount without rounding in BUSY. How should I achieve this?
If the TDS amount is dont wany to round off then follow the below steps.
Step 1: In the TDS bill sundry, Check the round off setting and disable it.
Step 2: Check the round off configuration in TDS/TCS feature from where we enabled it from Administration menu.