www.TallyERP9Help.Com

TDS on Expenses - With Inventory (Journal Voucher) [TDS] in Tally.ERP9

Example: On 5-8-2009 ABC Company received the bill for Rs. 50000 (for the supply of 1000 cartons @ 50 per carton) from AK Enterprises. Cartons are printed with the company logo and other information as required on which TDS is applicable.

The above transaction is recorded in a Journal Voucher

Step 1: Create Stock Item

Go to Gateway of Tally > Inventory Info. > Stock Item > Create

  • In the Name field enter the Stock Item Name e.g. Cartons

  • In the Under field select Primary group

  • In the Unit field select Nos

  • In the Rate of VAT (%) field enter 4%

  • Press Enter to save

Step 2: Create Party Ledger

Go to Gateway of Tally > Accounts Info. > Ledgers > Create

  • In the Name field enter the Ledger Name e.g. AK Enterprises

  • In the Under field select Sundry Creditors group

  • Set Maintain balances bill-by-bill to Yes

  • Enter the Default Credit Period if any

  • Set Is TDS Deductable to Yes

  • In Deductee Type field select Company-Resident

  • Enter the Mailing Details and Tax Information

  • Press Enter to save

Step 3: Create Expenses Ledger

Go to Gateway of Tally > Accounts Info. > Ledgers > Create

  • In the Name field enter the Ledger Name e.g. Packing Expenses

  • In the Under field select Indirect Expenses group

  • Set Inventory values are affected to Yes

  • Set Use for Assessable Value Calculation to No

  • Set Is TDS Deductable to Yes

  • In the Default Nature of Payment field select Payment to Contractors (Other Than Advertisement)

  • Press Enter to save

Step 4: Create TDS Duty Ledger

  • In the Name field enter the Ledger Name e.g. TDS – Contractor Other Than Adv.

  • In the Under field select Duties & Taxes group

  • In the Type of Duty/Tax field select TDS

  • In the Nature of Payment field select Payments to contractors (Other Than Advertisement)

  • Press Enter to save

 Step 5: Create Journal Voucher

Go to Gateway of Tally > Accounting Vouchers > Press F7:  Journal

  1. Press F2 and change the date to 05-08-2009

  2. In the Debit field select Packing Expenses ledger from the List of Ledger Accounts and press enter to view Inventory Allocation screen

  3. In the Inventory Allocation Screen

  4. In the Name of Item field select Cartons

  5. In the Quantity field enter 1000

  6. Enter Rs. 50 in the Rate column and the Amount is displayed automatically

  1. In TDS Nature of Payment  Details screen accept the default details.

  2. In the Credit field select AK Enterprises and press enter to view TDS Details screen

  3. In the TDS Details screen

  4. In the Type of Ref field select New Ref

  5. In the Name field Jrnl / 13-1 is displayed automatically

  6. In the Nature of Payment field select Payment to Contractors ( Other Than Advertisement)

  7. In the TDS Duty Ledger field select TDS- Contractor Other Than Adv.

  8. Set the Deduct Now field to Yes

  9. TDS Amount field displays the Tax amount Deducted at Source

  10. Payable Amount field displays the amount (after TDS) payable to the party


[Img-122]

  1. Press Enter to accept the TDS Details.

  2. Payable Amount as calculated in the TDS Details screen will be defaulted in the Party’s Amount (Credit) field.

  3. In Bill-wise Details screen

  4. Select New Ref as the Type of Ref

  5. In the Name field enter the Bill name as Bill -099

  6. Skip the Due Date or Credit Days field

  7. Accept the default amount allocation and Dr/Cr. By default Tally.ERP 9 displays the Bill amount in the amount field as the credit balance.

  8. Press Enter, select New Ref as Type of Ref and enter Bill name as Bill -099

  9. Skip the Due Date or Credit Days field and accept the default amount allocation and Dr/Cr. By default Tally.ERP 9 displays the Tax amount in the amount field as the debit balance.

  1. In the Credit field select TDS- Contractor Other Than Adv. from the List of Ledger Accounts.

  2. In the Amount field, Rs. 1000 [Bill amount (50,000) – Pending Amount (49,000)] is displayed automatically.

  3. Enter Narration, if required.

 
[Img-123]

  1. Press Enter to save.

 
 
 
 
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.
Our Portal : www.TallyERP9Book.Com www.IncomeTaxManagement.Com www.Tally9Book.com www.TallyERP9Help.Com
Disclaimer :
Tally, Tally 9, Tally9, Tally.ERP, Tally.ERP 9, Tally.Server 9, Tally.NET & Power of Simplicity are either registered trademarks or trademarks of Tally Solutions Pvt. Ltd. in India and/or other countries. All other trademarks are properties of their respective owners.
The visitors may click here to visit the web site of Tally Solutions Pvt. Ltd. for resolving their doubts or for clarifications