Home Tally Prime How to Create TDS Nature of Payments in Tally Prime?

How to Create TDS Nature of Payments in Tally Prime?

3 min read
0
0
78

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

20%.

· 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.

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 TDS nature of Payment 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)

Threshold/Exemption limit

Professional Fees

194J

94J

7.5%

30000

Winning from

Horse race

194BB

4BB

30%

10000

· Process 3: Create Expense Ledger to Booking Expenses

Load More Related Articles
Load More By amitgupta
Load More In Tally Prime

Leave a Reply

Check Also

What is Account Master & How to Create Modify and Delete

What is Account Master & How to Create Modify and Delete Administration > Masters &…