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Income Tax Payment in Tally.ERP 9 Payroll

To process the Income Tax Payment,

Go to Gateway of Tally > Accounting Vouchers > F5:  Payment

  1. Press F2 to Change the Voucher Date

  2. Press A: Payroll Auto Fill or press Alt+A

  3. Select the Income Tax Challan in Process for field

  4. Enter the From and To dates

  5. Enter the Voucher Date

  6. Select the appropriate Employee Category

  7. Select the Employee/Group from the List of Employees / Group

  8. Select the appropriate Bank / Cash Ledger from the List of Ledger Accounts

  9. Select the appropriate Payroll Ledger from the List of Ledger Accounts


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  1. Press Enter to show the Income Tax Payment values for all the Employees

  2. Select Yes in Provide Details field, if you wish to print the Payment Details in Income Tax Challan

  3. In the Payment Details screen enter the Cheque / DD No., Cheque / DD Date, Challan Date, Bank & Branch Code

 
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  1. Press Enter and fill Narration, if any


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  1. Accept to save

Income Tax (ITNS Challan 281) Challan

To print the Income Tax Challan, press No in the above screen and Press Alt+P

In the Print Configuration screen,

  • Select Yes in the Print Challan field


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  • Press Yes to print the Income Tax Challan


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The Income Tax Challan displays the total tax paid by the Employer during the given month.

Accounting for Interest, Penalty and Late Fee

When there is a delay in paying the tax, a penalty maybe charged. In Tally.ERP 9 there is provision to account for the same.

To account for penalties,

Go to Gateway of Tally > Accounting Vouchers > F5:  Payment

  1. Press A: Payroll Auto Fill or press Alt+A

  2. Select the Income Tax Challan in Process for field

  3. Enter the From and To dates

  4. Enter the Voucher Date

  5. Select the appropriate Employee Category

  6. Select the Employee/Group from the List of Employees / Group

  7. Select the appropriate Bank / Cash Ledger from the List of Ledger Accounts

  8. Select the appropriate Payroll Ledger from the List of Ledger Accounts

  9. In the Payment Voucher screen, select Penalty (or any other expense ledger) from the List of Ledgers


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On selecting the expense ledger, the following screen appears:


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  1. Select Penalty and save the payment voucher.

Note: Similarly Interest and Late Fee can be accounted for using the same procedure.

Challan for TDS with Penalty Charges

The penalty charges that have been recorded will appear in the challan as follows:


[Img-151]

Accounting for Interest, Penalty and Late Fee Without the TDS Ledger

Interest, Penalty and Late Fee can be accounted independently without the TDS ledger.

  1. In the Payment Auto-fill screen, against Payroll Ledger field, select Not Applicable.


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  1. In the Payment Voucher, select Interest Account or any other expense ledger from the List of Ledgers.


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  1. In the Payment Type sub-screen, select interest


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  1. Enter the amount and similarly amounts can be accounted for Late Fee and Penalty in the same voucher.

  2. P0ress Enter to save.

Challan for  Penalty Charges without TDS Ledger

The interest charges that have been recorded without the TDS ledger will appear in the challan as follows:


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Similarly, the effect of Interest, Penalty and late Fee will reflect in the respective statutory reports namely Challan, 24Q, e-TDS 24Q

 
 
 
 
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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