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 am not able to see certain account heads like Capital Account in the tagging options. Why is this happening and how can I enable it? 

In BUSY, we can charge the TDS on expense and not for capital account, you can pass the journal voucher.
 Pls follow the below steps :
 Step 1: Click on Transactions
 Step 2: Then Journal
 Step 3: Then Add

When I enter a new party, the software automatically selects TDS under Q. How can I change this to select TDS under C in BUSY? 

In the party master, you have to enable the TDS on expense booking option and mention the payee category.
 You have to select the 194C tds category in the expense account or can mention in the TDS bill sundry.

I need to add the seller's PAN number but am unsure where to enter it. Where can I add the PAN number for TDS calculation? 

You need to mention the PAN number in the seller party master from below steps.
 Step 1: Click on Administration
 Step 2: Then Masters
 Step 3: Then Modify
 Step 4: Select the seller account and mention the PAN number

I want to link expenses like TDS to Capital Account instead of Duties and Taxes. What steps should I follow to do this? 

In BUSY, we can charge the TDS on expense and not for capital account, you can pass the journal voucher.
 Pls follow the below steps :
 Step 1: Click on Transactions
 Step 2: Then Journal
 Step 3: Then Add

Why am I not able to select C for TDS deduction when creating a new party in BUSY? It only allows Q. 

In the party master, you have to enable the TDS on expense booking option and mention the payee category.
 You have to select the 194C tds category in the expense account or can mention in the TDS bill sundry.

What steps are involved in configuring TDS and TCS calculations in accordance with government rules and my business needs in BUSY? 

As per goverment rules, You have maintain the TDS and TCS with the proper reference management in the voucher. When you maintain the proper references then data will reflect in the TDS and TCS report for generating the ereturn.

I am unable to find the non-salary TDS report in BUSY. What should I check to ensure this report shows up? 

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 view the report TDS category wise.

I made a TCS entry but it is not showing in my balance sheet. Where can I view the TCS amount? 

In the Balance sheet,You can view the TCS amount in the current liabilites. You can view the TCS report from the below steps.
 Step 1: Click on Display
 Step 2: Then TDS/TCS report
 Step 3: Then TCS Collection details

How can I generate the TDS report in BUSY, and where can I find this report in the display? 

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 view the report TDS category wise.

The TDS amount is being calculated at % instead of %. How can I change the default TDS percentage? 

If the TDS amount is calculated at 5 percent instead of 1 percent then you have to make sure that the PAN number should be entered in the party master for calculating the correct TDS amount in the voucher.
Trusted by Industry Leaders

Ready to scale your business?

Join 6,00,000+ growing businesses who trust Busy for their financial management. Experience the power of professional accounting in the palm of your hand.

Start Free Trial
No Credit Card Required