Frequently Asked
Questions
Find Solutions to Common Issues Related to taxation - tds tcs data feeding and report
How do I properly tag or map TDS deduction categories to the relevant transactions in the accounting software?
To properly tag or map TDS deduction categories to the relevant transactions in the accounting software, you need to follow these steps:
1. Open the party master and select the party for which you want to apply TDS deduction.
2. In the party master, select the appropriate TDS category for the party based on the type of transaction (e.g., TDS on purchase, TDS on professional services).
3. Ensure that the expense account for the service is correctly tagged with the TDS category.
4. Make sure that the correct TDS rate is applied for the selected category.
5. Save the changes and apply TDS deduction to the relevant vouchers or transactions.
By following these steps, you will be able to properly tag or map TDS deduction categories to the relevant transactions in the accounting software.
How can I configure the software for automatic TDS calculation on commission only, not on sales?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
What are the prerequisites and settings required to enable automatic TDS calculation in BUSY?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
I am unable to apply TDS deductions automatically in the software. How can I set up the system to calculate and deduct TDS when a vendor invoice crosses a specified limit?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
The TDS amount being calculated in purchase vouchers is incorrect. How can I get the right TDS percentage applied automatically?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
Why is TDS not calculated automatically for vendor bills exceeding Rs lakhs, and how can I enable auto TDS calculation?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
I am unable to get the TDS amount calculated automatically in purchase vouchers. What should I do to fix this?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
The software is not deducting TDS automatically for all applicable bills after crossing a turnover of Rs. lakhs. How can I resolve this?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
What are the steps to enable auto TDS deduction in BUSY?
When the TDS is not calculating automatically for the vendor bills exceeded with 50 lakh then make sure that tds configuration should done properly in BUSY and TDS is enable in the party master.
Pls Follow the Below the Steps for TDS Calculation :
Step 1: Click on Administration
Step 2: Then Configuration
Step 3: Then Features and Options
Step 4: Enable the TDS/TCS option
Step 5: Mention the warning for TDS purachse and payment voucher as per your requirement in the bottom.
Step 6: Open the party account in modify mode
Step 7: Then in TDS/TCS window, mention the applicable limit- Applicable after limit.Then TDS will get charge if the limit get cross after 50 lakh.
Step 8: Then in purchase voucher will calculate automatically when limit get cross and reference will get create.
How do I configure TDS category in BUSY?
To configure TDS deductions in BUSY, you need to follow these steps:
1. Go to the Masters menu and select TDS Category option in that option you will get Add, Modify & list option.
2. If require tds category is not there than you need to create new TDS category.
3. Fill in the required details such as TDS Section, TDS Rate, and Threshold Limit & Save the entry.
4. Now, go to the Masters menu again and select Party.
5. Select the party for which you want to enable TDS.
6. In the TDS/TCS info. for Acc. TDS on expense booking should be enable and therafter select the TDS payee category which you have already created.
7. Save the party details.
By following these steps, you can configure TDS deductions in BUSY.
