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How to Activate of TCS in Tally Prime?

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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

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