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Z : Configure Zero Rate Deduction (Sec 197A) - Quick Setup - [TDS]  in Tally.ERP 9

A Deductee (other than Company or Firm) can submit a declaration in Form 15G under sub section (1) of section 197A, for TDS deduction at Zero Rate. Declarations can be given only by those deductees whose income is below the taxable limit and the income falls under section 193, 194, 194A, 194EE and 194K. The certificate granted shall be valid for the assessment year specified and is valid only for the person named therein.

To configure party ledger for zero rate of deduction press Alt+Z or select  Z: Configure Zero Rate Deduction (Sec 197A) and press Enter to view Zero Rate Deduction (Sec 197A) Setup sub-form

Example: Gokul Co-operative Building Society has a certificate for non-deduction (zero rate) of Income tax on Rent.

In Zero Rate Deduction (Sec 197A) Setup screen

  1. Enter the name of the Party Ledger in Name of Ledger field e.g. Gokul Co-operative Building Society.

  2. Select Sundry Creditors from the List of Groups in the Under field.

  3. In Deductee Type field select Co-Operative Society from List of Deductee Types

  4. Enable the field Set Zero Deduction to Yes and press enter to view Zero Deduction Setup screen

  5. In Zero Deduction Setup screen

  6. In Nature of Payment field select the nature of payment - Rent of Land, Building Or Furniture for which zero deduction is allowed.

  7. Section Number: Tally.ERP 9 displays the Sections, under which an application for lower rate (section 197) or Zero rate (197A) are approved. Select section 197A for zero deduction.


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  • Certificate No./ Date: Enter certificate number under which the lower rate of TDS was allowed and the date of issue.

  • Applicable From: Mention the date (as per the certificate) from when the lower rate is approved.       

  • Applicable To: Mention the date till when the certificate of Lower rate will remain in force.

  • TDS: Mention the Rate of Income Tax allowed - 0%

  • Surcharge, Ed Cess and Sec Ed Cess: In these field Tally.ERP 9 defaults the percentage to Zero.


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  • Press Enter to save Zero Deduction Setup screen.

  • In PAN/IT No. field enter party PAN Number


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  1. Press Enter to save.

Note: You can also create Party ledgers and configure for zero rate from Gateway of Tally > Accounts Info. > Ledgers

 
 
 
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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