Home Tally Prime How to Create TCS Nature of Goods in Tally Prime?

How to Create TCS Nature of Goods in Tally Prime?

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How to Create TCS Nature of Goods in Tally Prime?

Step: GOT > Create > TCS Nature of Goods > Enter

Ø
After reaching by follow above step, screen of TCS nature of Goods will shown like that following screenshot:

Ø Fill all details like,

· Name – Type name TCS nature of Goods like, I type “Scrap”

· Section – Enter the section code of TCS nature of Goods like I enter “206C” which is section code of ‘Scrap’.

· Payment code – Type Payment code of TCS nature of Goods just like, I type payment

code of ‘Scrap’ “6CE”.

· 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 “0.75%”.

· Rate for Individual/HUF (without PAN) – In this section type Double TCS rates or Flat 5% for those Collectee who have not PAN. Like I type double TCS rates “1.5%“for Scrap.

· Rate for Other Collectee types (with PAN) – Leave it “0.75%” for other Deductee types

· Rate for Other Collectee types (without PAN) – In this section leave it by default value that is 1.5%.

Ø Threshold/Exemption limit – Leave it’s as empty. It is not compulsory

Ø
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 TCS nature of Goods creation screen then Press F12 & enable that option.

Ø Practice Exercise for Create TDS nature of Payments, for You

Name

Section

Payment code

Rate for Individual/HUF

(with PAN)

Rate for Individual/HUF

(without PAN)

Timber wood under a

forest leased

206C

6CB

1.875%

3.75%

Tendu leaves

206C

6CI

3.75%

7.5%

· Process 3: Create Stock Item for TCS Nature of Goods

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