TDS & TCS Tally

Chapter 1: Introduction to TDS

Understand the basics of Tax Deducted at Source (TDS) and its significance in the Indian taxation system. Learn about the various provisions and sections under the Income Tax Act related to TDS. Explore the importance of TDS compliance for businesses and the penalties for non-compliance.

Chapter 2: Configuring TDS at Different Levels

Learn how to configure TDS settings in TallyPrime for accurate deduction and reporting.
Understand how to set up TDS at the company, ledger, and transaction levels.
Customize TDS settings to meet specific business requirements and compliance needs.

Chapter 3: Basic TDS Transactions

Master the recording of basic TDS transactions such as payments to contractors, professionals, and rent. Learn how to apply the correct TDS rates and calculate TDS amounts accurately. Explore the process of generating TDS certificates and issuing them to deductees.

Chapter 4: Advanced TDS Transactions - Part A

Delve into advanced TDS transactions involving multiple deductees and complex payment structures. Understand how to handle TDS on various types of payments such as commissions, interest, and dividends. Learn about TDS implications on non-resident payments and foreign transactions.

Chapter 5: Advanced TDS Transactions - Part B

Explore scenarios involving TDS on purchases and services under different sections of the Income Tax Act. Learn how to manage TDS on advance payments and adjustments against invoices. Understand the procedures for rectifying errors in TDS deductions and compliance with correction mechanisms.

Chapter 6: TDS Payment to Department

Learn the process of remitting TDS payments to the Income Tax Department within statutory deadlines. Understand how to generate and submit TDS challans using TallyPrime. Explore the reconciliation of TDS payments with the company’s financial records and government receipts.

Chapter 7: TDS Reports

Generate various TDS reports in TallyPrime for compliance and audit purposes. Learn how to create TDS returns, Form 26Q, and Form 27Q for quarterly submissions.Understand how to use TDS reports for tracking deductions, payments, and outstanding liabilities.