TDS Deductor, Deductee & TAN Structure
1. The Complete TDS Lifecycle
- Obtain TAN: The deductor must possess a 10-digit alphanumeric Tax Deduction and Collection Account Number (e.g.
BLRA12345C). - Deduct at Source: Deduct TDS at the time of booking the expense in Journal (F7) or Purchase (F9), whichever is earlier.
- Deposit Tax: Deposit the deducted tax to the government by the 7th of the subsequent month using Challan ITNS 281.
- File Quarterly Returns: Submit Form 26Q (for non-salary payments) every quarter.
- Issue TDS Certificate: Issue Form 16A to the deductee.
Tally Prime With Tax Deducted At Source (TDS)
Module Progress: 3 of 11 Topics (27%)
27%
- 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