Frequently Asked Questions

Solutions to common issues related to Taxation — Tds Tcs Data Feeding And Report.

BUSY FAQ subcategory answers and support

Support

Step-by-step Answers

I have crossed the Rs lakhs purchase threshold with a vendor. But some of the purchases include sample products recorded under a separate account. Will this avoid TDS deduction? 

No, The TDS deduction will not get avoid if you pass the entry for the sample product with different account but GSTIN and PAN is same. The TDS will get charge according to the threshold limit get crossed of GSTIN and PAN.

When generating the TDS Deduction Details report, how can I view TDS deductions made for a single party rather than all parties together? 

You can view the TDS report from below steps :
 Step 1: Click on Display menu
 Step 2: Then TDS/TCS Reports
 Step 3: Then TDS Deduction details
 Step 4: Select the category and One deductee for one party to view the report.

Why does TCS appear in purchase vouchers instead of TDS? How should tax deductions be entered in purchase entries? 

TCS should be entered in the sales voucher but if it is showing in the purchase then someone manually add the TCS bill sundry in the purchase voucher.You can remove the TCS bill sundry through F9 shortcut key from the purchase voucher.

How do I check if a particular voucher has crossed the threshold limit for applying TCS in BUSY? 

When you enable the TCS feature in the party master and set the applicability.After that TCS popup will show that the limit has been crossed. Would you like to apply the TCS then TCS bill sundry get applied and create the reference.

On which types of bills will TDS be deducted? On which will TCS be deducted? 

If net purchase or gross payment exceeds 50 lakh then tds will be deducted on purchase or payment voucher, while tcs will be deducted if net sales or gross receipt exceeds 50 lakh then can apply tcs on sale or receipt voucher.

I'm unable to find old TCS entries in BUSY after rewrite books. What happened? 

If TCS Entries are not showing after rewrite the book then it may be possible some blank or currupted data in BUSY and to recover this you need to restore your old backup if exist or you have to enter entries manually.

How can I make TDS payments to the government from BUSY? 

When you do the TDS payment, Then in the journal voucher you have to DEBIT the tds acccount and CREDIT the bank account. Adjust the tds reference which you have created in while booking the TDS entry and add the bank details.

From where can I disable the TDS feature in BUSY? 

To disable the TDS feature in BUSY then you need to follow the below steps.
Step 1: Click on administration and then configuration
Step 2: Then features and options and then choose the tds tab, here untick the enable tds reporting option and ok.

How can I locate and open a specific TDS Category data in BUSY? 

.You can view 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 category and then apply filter on party to view the report.

What is the TDS deduction limit per transaction for a particular party? 

The amount of payment made to the contractor in a single contract does not exceed Rs.30,000.If the aggregate amount of such contracts in a financial year exceeds Rs.1,00,000, TDS will be deducted.
Note- you contact you ca for proper detail about this
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