Form 27D is a certificate of proof that collector has collected the and paid the same to the government. This proof is essential to the collectee to claim the credit of tax in his Income Tax returns.
Form 27 Dcan be printed for a party by selecting a party ledger or multiple parties usingMulti-form printing.
Note:It is essential to reconcile Form 281 Challan to display payment details inForm 27D.
To print Form 27D:
Go toGateway of Tally > Display > Statutory Reports > TCS Reports > Print Form 27D
Select the ledger from the List of TCS Party Ledgers e.g.Chandra Timbers.Printing TCS Form 27Dscreen appears.
PressBackspacekey to navigate to the fields in thePrinting TCS Form 27Dscreen.
Name: By default displays the name of the person entered in Company TCS Collector Details as the Person Responsible. This name can be changed.
Son/Daughter of: This field displays the Parent Name mentioned in Company TCS Collector Details
Designation: By default displays the designation of the person entered in Company TCS Collector Details in designation field. This can be changed.
Print as Previous Format: By default this field is set toNo. Set this field toYesto print Form 27D in Previous format
TCS Ledger: In this field select the appropriate TCS (tax) ledger. Tax ledger to be selected based on the TCS rate at which tax collected from the party. Here, selectTCS @ 2.5%as tax collected from the Chandra Timbers is 2.5%.
From: By default displays 1-4-2010 which can be changed.
To: Enter theTodate
Challan Till Date: In this field enter the date to consider the challan payments made.
Type of Copy: From Type of Copy select the optionDefaultorUser Defined
Certificate No: Enter the Certificate number in this field to track the number of certificates issued to the party.
Place: Enter the Place
Date: Mention the Date of issue of Form 27D
Quarter/Acknowledgement: Mention theacknowledgementnumberof the TDS returns filed against the appropriate Quarter.
CIT (TDS) Details: In this section enter the name and address of the Commissioner of Income Tax having jurisdiction as regards TDS statements of the assessee.
Name: In this field enter theNameof the Commissioner
Address: Enter theaddressof the commissioner office
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