TDS in Tally

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TDS (Tax Deducted at Source) in Tally provides an easy-to-use and flexible interface. It helps you to handle intricate cases and calculate the tax payable to the Income Tax Department.

Tally calculates the tax of all parties/ suppliers where TDS deduction is mandatory. It calculates the TDS automatically and prints Form16A certificates, Forms 26Q, 26, 27 and 27A (Cover Note) for Quarterly/ Annual Returns as per statutory requirement.

It allows the user to view and print various TDS reports, Challans and TDS Outstanding statements.


Features of TDS in Tally

The TDS functionality in Tally supports the following features:

1.Simple and user-friendly
2.Quick and easy to set up and use
3.Accounting for tax on partial/full payment of bills
4.Flexibility for auto and manual calculation of TDS
5.Complete tracking of each transaction from deduction to payment
6.Challan management and printing for prompt and accurate filing of tax
7.The Auto allocation feature prevents error-prone data entry and helps track the transactions faster.
8.Form 16A management:
9.Can be printed for a transaction
10.Can be printed for a period
11.Can be printed yearly
9.Allows multi-party printing
10.Exporting of data in NSDL compliant TDS file format.
11.Electronic format (e-TDS return) with Form 26Q, Form 26 , Form 27 and Form 27A which will be validated by the utility, provided by the government.
12.Generates Form 16A, TDS Challan, TDS Computation and TDS Payable reports.