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

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Khushbu Patel

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...
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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
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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...
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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 the Rate of TDS for With PAN and Without PAN Enter the Threshold/exemption limit as applicable Enable Deduct TDS in Same Voucher, if required Set Use Advanced TDS Entries to Yes 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
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