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Procedure documentationCreating Outgoing Payments: TDS: India Locate this document in the navigation structure

 

To record the TDS deposit in the government account during the booking of outgoing payments of vendors or customers, proceed as follows:

Procedure

  1. In the Outgoing Payment window, choose the TDS radio button.

  2. Specify the following fields:

    Section Code

    Section code based on the codes you defined in the Withholding Tax Codes - Setup window.

    Description

    Displays the description of the TDS section codes.

    Assessee Type

    Displays the assessee types defined in the Nature of Assessee window.

    Amount Payable

    Displays the amount payable against each TDS section code, location and assessee type.

    Deposit Amount

    Displays the deposit amount against each amount payable.

    Location

    Select the location at which the TDS payment is being handled.

    Bank Serial No.

    Bank code number for the TDS deposit.

    Challan No.

    Displays the TDS deposit challan number which was issued by bank or transfer voucher number.

    Challan Date

    Challan date of the TDS deposit.

    Bank Name

    Bank name of the TDS deposit.

  3. To select more TDS entries for depositing tax amounts, choose the Pick TDS Entries button to open the TDS Entries window.

  4. In the TDS Entries window, to select the transactions you want, select the Choose checkbox of the line transactions.

    Choose the OK button. You return to the Outgoing Payment: TDS window.

  5. In the Outgoing Payment: TDS window, to deposit the TDS amount, choose the payment means button from the tool bar.

  6. In the Payment Means window, you can make the payment as you want. For more information about payments, see Payment Means.

  7. After you finish with payment means, you return to the Outgoing Payment: TDS window. To continue, choose the Add button.

More Information

TDS Entries

Payment Means