Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
What could be causing discrepancies between expected TDS amounts and deductions on bills?
The discrepancies between expected TDS amounts and deductions on bills could be caused by incorrect mapping of TDS categories to the transactions, incorrect entry of TDS amounts in the accounting software, or incorrect calculation of the taxable amount.
What is the procedure to enter TDS/TCS reference numbers manually in BUSY?
For entering the tds reference number manually, then open the purchase voucher in which you have applied the tds. When you save the voucher then in tds reference window get open and manually can enter the reference number.
What is the process to enter collection codes like R, E, C in BUSY?
The collection Code stands for in BUSY
Collection Code R : R Stands for Sales of Goods
Collection Code E : E stands for Sale of scrap
Collection Code C : C is the TCS Section code
What do the collection codes R, E, C stand for in BUSY?
The collection Code stands for in BUSY
Collection Code R : R Stands for Sales of Goods
Collection Code E : E stands for Sale of scrap
Collection Code C : C is the TCS Section code
How can I check my Tcs detail in BUSY?
For check Tcs Report by follow the below steps:
Step 1: Go to display then go to Tds/tcs reports
Step 2: In Tds/tcs Report go to tcs collection detail
Step 3: Choose all category and all references and open Report.
Why am I getting an error that says "TCS cannot be applied as no bill summary has been formed" when I try to apply TCS?
For this error TCS cannot be applied as no bill summary has been formed, You have to chec that the TCS bill sundry configuration should be proper and TCS account should tag in the TCS bill sundry.
The TDS configuration I set up in BUSY previously is not reflecting anymore. My settings seem to have been reset. What should I do?
If the TDS configuration is not reflecting as you set previously then make sure you are checking the correct company data and might be someone has changed the settings then you need to restore the data backup.
I am unable to reference or link the TCS payment voucher with the TCS collection voucher in BUSY Software. How can I link them?
To link TCS payment and collection vouchers in BUSY, you need to enter the same TCS reference number in both vouchers. This will link the two vouchers and reflect the TCS payment in the TCS collection report.
Someone else has deducted TDS, and I am entering it in BUSY now. How can I include the TDS section and deductor PAN details?
If someone has deducted the TDS, then you have to pass the journal voucher for the TDS entry.
Pls follow the below steps :
Step 1: Click on Transactions
Step 2: Then Journal
Step 3: Then Add
I'm getting an error of difference in amount for TDS when saving a voucher with TDS/TCS deduction in BUSY. What should I do?
If you get the TDS error for difference in the amount while saving the voucher,then make sure that the TDS percentage which applied in the bill sundry should be same as in the TDS reference creation window.