Booking Expenses & Deducting TDS in Journal/Purchase
1. Booking Expense with TDS (Educational Mode: 01-Apr-2024)
On 01-Apr-2024, an advertising agency submits an invoice of ₹2,00,000. TDS @ 2% is deducted.
| Voucher | Date | Debit Ledger | Credit Ledgers | Amount |
|---|---|---|---|---|
| Journal (F7) | 01-Apr-2024 | Advertisement Expenses (Dr) | Cr Apex Advertising (Party) = ₹1,96,000 Cr TDS on Contractor (Tax) = ₹4,000 |
₹2,00,000 |
Tally Prime With Tax Deducted At Source (TDS)
Module Progress: 7 of 11 Topics (64%)
64%
- Introduction to Tax Deducted at Source (TDS)
- TDS Sections, Threshold Limits & Rates
- TDS Deductor, Deductee & TAN Structure
- Enabling TDS in Company Features (F11)
- Creating TDS Nature of Payments
- Configuring TDS in Expense & Party Ledgers
- Booking Expenses & Deducting TDS in Journal/Purchase
- Handling TDS Exceptions & PAN Missing Cases
- TDS Deduction on Advance Payments
- Payment of TDS to Government (Challan ITNS 281)
- TDS Reports & Form 26Q Return Preparation