How to Activate of TCS in Tally Prime?
Step: GOT > F11
Activate the Option “Enable Tax Collected at Source (TCS)”, Like that Following Screenshot:
Ø Press ‘Enter’ to filling all TCS details
Ø After Pressing Enter, Company TCS Collector Details screen appear like following screenshot:
Ø Press F12 & Enable the all option for more Details to fill about Collector like, this following screenshot:
Ø Press Enter or Ctrl+A to save configuration.
Ø After Enable the all option in configuration screen, TCS details screen will shown like that following screenshot:
Ø Fill all Company TCS Details for Collector like,
· TAN registration number: Type TAN registration Number which is created in time of
TAN applied. Like I type ‘T258582HKL’
· Tax deduction and collection Account Number (TAN): Enter the TAN Number of
Collector. Like I enter “DELA02545I”
· Deductor type : Select Collector type from list like I select I ‘Company’
· Deductor branch/division : Type the Branch of Collector, like I Type ‘New Delhi’
· STD Code : Type STD Code of Collector like I type ‘011’
· Phone No : Type Phone Number of Collector like I type ‘8544555697’
· E-mail : Type E-mail ID of Collector like I type ‘ajay@gmail.com’
· Set/alter details of person responsible : If you want to fill all details about Collector then set to this option ‘Yes’
Ø After Set to this option ‘Yes’ a new window appear fill all Personal details of Collector
like that screenshot:
Ø For Save this details & return back in company details screen Press ‘Ctrl+A’ or Enter
· Ignore IT exemption limit: If you want to ignore Exemption limit of income tax for TCS Collection then set to this option ‘Yes’. Like I set to this option ‘No’
· Provides surcharge and cess details: If you also apply Surcharge and cess rates for TCS nature of Goods then set to this option ‘Yes’.
Ø After set to surcharge and cess option ‘Yes’ a new window appear like that following
screenshot:
Ø In this screen you can fill all details related to surcharge and cess. Like
§ Residential Status – in this field select Collectee residential status that means your Collectee type are resident or non-resident. Select any one form them like, I select ‘resident’.
§ Collectee status – in this section select your Collectee type from list. I select
“Individual/HUF-Resident”.
§ Applicable Date – Type date from which you apply Surcharge and cess rates for your Collectee like, I enter “01/04/2020”.
§ Cess rates – Type here Rates of Cess which define government like, I type “4%”.
§ Sec. Ed. Cess Rate – Enter here Cess rate of Secondary Education Cess. I leave it as empty.
§ Surcharge Rates – Type rates of surcharge like I type ‘10%’.
§ Exemption Limit – Enter here Exemption limit to surcharge calculation like, I enter 5000000.
Ø
Fill all details in TCS Surcharge Details screen like following screenshot:
Ø Press Ctrl+A to save this screen
Ø After filling all Above details in Company TCS Collector details screen, Final screen of shown like this following screenshot:
Ø Press Ctrl+A to save this screen
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· Process 2: Create TCS Nature of Goods
