UrbanPro

Learn Tally Software from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Search in

How do I handle tax deducted at source (TDS) in Tally for salary payments?

Asked by Last Modified  

Follow 2
Answer

Please enter your answer

became compter/excel expert/tally accounting expert within 30 days

To handle TDS for salary payments in Tally: 1. Create a ledger account for TDS under "Duties & Taxes." 2. When recording a salary payment entry, specify the TDS ledger with the applicable rate and amount. 3. Tally will automatically deduct TDS from the salary and show it as a liability until you...
read more

To handle TDS for salary payments in Tally:

1. Create a ledger account for TDS under "Duties & Taxes."

2. When recording a salary payment entry, specify the TDS ledger with the applicable rate and amount.

3. Tally will automatically deduct TDS from the salary and show it as a liability until you remit it to the government.

4. Generate TDS reports and file your TDS returns as required.

read less
Comments

IT Professional Trainer with 12 years of experience in IT Industry

To handle tax deducted at source (TDS) in Tally for salary payments, you can: Go to Gateway of Tally Select Create Select TDS Nature of Payments Press Enter Press F12 (Configure) Press Alt+H (Helper) to view the list of Nature of Payment Select the required Nature of Payment Enter...
read more
  
To handle tax deducted at source (TDS) in Tally for salary payments, you can: 
 
  1. Go to Gateway of Tally
  2. Select Create
  3. Select TDS Nature of Payments
  4. Press Enter
  5. Press F12 (Configure)
  6. Press Alt+H (Helper) to view the list of Nature of Payment
  7. Select the required Nature of Payment
  8. Enter the Rate of TDS for With PAN and Without PAN
  9. Enter the Threshold/exemption limit as applicable
  10. Enable Deduct TDS in Same Voucher, if required
  11. Set Use Advanced TDS Entries to Yes
  12. Configure the pay heads and ledgers to select the appropriate Income Tax Component, Tax Calculation Basis and Deduct TDS Across Period(s)
TDS is income tax deducted by the employer when paying salary to their employees. The Income Tax Act makes it mandatory for employers to deduct TDS on salary if the salaried income is more than the minimum exemption limit. TDS is deducted at the time of actual payment of salary. 
 
 
 
read less
Comments

Related Questions

How many months is the tally course?
Generally, the duration of a Tally course is 1 – 3 months, but it varies depending on the tally institution you want to join. Likewise, tally course fees are INR 5,000 – 20,000 on average but...
Orange
0 0
5
How much time do we need to learn Tally?
Generally, the duration of a Tally course is 1 -- 3 months, but it varies depending on the tally institution you want to join. Likewise, tally course fees are INR 5,000 -- 20,000 on average but it also...
Vivek
0 0
5
Is the Tally course useful for MBA in finance students?
may be it has value for those who want to do clerical jobs in small time firms/offices. Instead, an MBA finance should be good at Excel. Hence it is recommended to do the following courses if your are...
Sarala
0 0
5
What is Tally?
Tally is an ERP accounting software suite used to capture a company's day-to-day business data. Tally ERP 9 is the most recent version. Tally ERP 9 Software is a popular financial accounting system in...
Chitra
0 0
5
How can Tally software help in Business?
For Business using Tally owner can cut his cost by employing less or few employess. It helps in recording the Vouchers and extracting any Reports needed by the Organization. I also handles all statutory...
Rayhaan

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Tally.ERP9
Hi.....Learn Taxation through Tally is easier way to understand & improve knowledge base.
R

Rudra

0 0
0


GST Update: Impact Of GST On Restaurant Business.
GST is almost ready to be rolled out. Both the producers and consumers start comparing the impact of the propsed taxation system with that of the existing one. In this article we are trying to compare...


How to create company In Tally
Create Company in Tally first step Press enter in open Tally Software Second step work in education mode Third step Company info screen ...
R

Recommended Articles

Software Development has been one of the most popular career trends since years. The reason behind this is the fact that software are being used almost everywhere today.  In all of our lives, from the morning’s alarm clock to the coffee maker, car, mobile phone, computer, ATM and in almost everything we use in our daily...

Read full article >

Almost all of us, inside the pocket, bag or on the table have a mobile phone, out of which 90% of us have a smartphone. The technology is advancing rapidly. When it comes to mobile phones, people today want much more than just making phone calls and playing games on the go. People now want instant access to all their business...

Read full article >

Whether it was the Internet Era of 90s or the Big Data Era of today, Information Technology (IT) has given birth to several lucrative career options for many. Though there will not be a “significant" increase in demand for IT professionals in 2014 as compared to 2013, a “steady” demand for IT professionals is rest assured...

Read full article >

Information technology consultancy or Information technology consulting is a specialized field in which one can set their focus on providing advisory services to business firms on finding ways to use innovations in information technology to further their business and meet the objectives of the business. Not only does...

Read full article >

Looking for Tally Software classes?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for Tally Software Classes?

The best tutors for Tally Software Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Learn Tally Software with the Best Tutors

The best Tutors for Tally Software Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more