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Tax deducted at Source [TDS] in Tally.ERP9

TDS means Tax Deducted at Source. The concept of TDS was introduced in the Income Tax Act, 1961, with the objective of deducting the tax on an income, at the source of income. It is one of the methods of collecting Income Tax, which ensures regular flow of revenue to the Government.

Example: Universal Infotech is making the payment towards Rent to the owner of the building, it is required to deduct the tax on the income (i.e. before payment to the owner), at the source of income.

TDS Process

  1.  Deductee (Seller) provides Services and Bill to the Deductor (Buyer).

  2.  Deductor makes the payment after deducting TDS.

  3.  Deductor remits the TDS amount into Bank (Treasury).

  4.  Bank (Treasury) remit the amount to the Government Account.

  5.  Deductor Issues Form 16A to Deductee for the TDS amount deducted.

  6.  Deductor Files the e-TDS to NSDL.

  7.  NSDL uploads the e-TDS information to Income Tax Department.

  8. Deductee Files the Return with Form 16A to Income tax Department.


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Tally.ERP 9 Reference Manual LIBRARY
1.
Installation of Tally.ERP9
2.
Site Licensing of Tally.ERP9
3.
Shortcut Keys in Tally.ERP9
4.
Maintaining Company Data
5.
Creating Masters
5a. Accounts Information [Creating Masters]
5b. Inventory Information [Creating Masters]
6.
Voucher Entry
7.
Reports in Tally.ERP9
8.
Excise for Dealer
9.
Excise for Manufacturer
10.
Reports [ Excise for Manufacturer]
11.
Excise for Importer
12.
Service Tax in Tally.ERP9
13.
Tax Collected at Source (TCS) in Tally.ERP9
14.
Tax Deducted at Source (TDS) in Tally.ERP9
15.
Value Added Tax (VAT) in Tally.ERP9
16.
Central Sales Tax (CST) in Tally.ERP9
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
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