How to Create TDS Nature of Payments in Tally Prime?
Step: GOT > Create > TDS Nature of Payments > Enter
Ø After reaching by follow above step, screen of TDS nature of payment will shown like that following screenshot:
Ø Fill all details like,
· Name – Type name TDS nature of Payments like, I type “Rent for Land and Building/Furniture & Fixture”
· Section – Enter the section code of TDS nature of Payments which you enter in name
box like I enter “194I” which is section of ‘Rent income’.
· Payment code – Type Payment code of TDS nature of Payments just like, I type payment
code of ‘Rent for land and Building/Furniture & fixture’ “94I”.
· Remittance code – in this section leave empty because not compulsory.
· Rate for Individual/HUF (with PAN) – Type TDS rates of Natures of Payments like I type
rate of Rent for land and building/Furniture & fixture “7.5%”.
· Rate for Individual/HUF (without PAN) – In this section leave it by default value that is
· Rate for Other Deductee types (with PAN) – Leave it “7.5%” for other Deductee types
· Rate for Other Deductee types (without PAN) – In this section leave it by default value that is 20%.
· Threshold/Exemption limit – Type Exemption limit for TDS calculation after above limit
like I type “240000” for Rent for land and building/Furniture & fixture.
After filling all above details screen will shown like that following screenshot:
Ø Press Ctrl+A to save this screen
Note: If any option not shows in TDS nature of Payment creation screen then Press F12 & enable that option.
Ø Practice Exercise for Create TDS nature of Payments, for You
Individual/HUF (with PAN)
· Process 3: Create Expense Ledger to Booking Expenses