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Form 26Q (TDS) Report in Tally.ERP9

Form 26Q is the Quarterly return of TDS in respect of all payments other than salaries. As per the Income Tax Act, 1961, every corporate and government entity responsible for deduction of tax at source should furnish TDS returns containing details of deductee(s) and challan details relating to deposit of tax with the Income Tax Department.

The Form 26Q Report in Tally.ERP 9 assists you in generating accurate the returns to be filed.

To generate Form 26Q in Tally.ERP9

  • Go to Gateway of Tally > Display > Reports > Statutory Reports > TDS Reports > Form 26Q .

Form 26Q TDS Report in TallyERP9
(Fig-37)

The Form 26Q report can be filed with accurate information available in this report. It has three main sections:

  1. Statistics of Vouchers - Form 26Q (TDS)

  2. Deduction Details - Form 26Q (TDS)

  3. TDS Payment Details - Form 26Q (TDS)

1. Statistics of Vouchers - Form 26Q (TDS) Report in Tally.ERP9

The Statistics of Vouchers section of Form 26Q displays the total number of transactions pertaining to a period which are categorised as ...

(A) Included Transactions, 

(B) Excluded Transactions and 

(C) Uncertain Transactions .

Total Number of Transactions in Form 26Q TDS Report in Tally.ERP9

The statistics report displays the count of each voucher type used for recording transactions under Total Number of Transactions , Included Transactions ,  E xcluded Transactions ,  and  Uncertain Transactions .

To display the statistics report

1.  Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > Form 26Q or Form 27Q .

2.  Select Total Number of Transactions .

3.  Press Enter to view all transactions for the period.

View Total No of Transactions under 26Q TDS Report in TallyERP9
(Fig-38)

4.  Select any voucher type and press Enter to view the Voucher Monthly Register .

5.  Select any month and press Enter to view Voucher Register . The  Voucher Register  screen appears.

6.  Select the required voucher.

7.  Press Enter to edit the voucher.

(A) Included Transactions Details in Form 26Q TDS Report in Tally.ERP9

 The Included Transactions Details screen displays all the transactions that are considered for generating the returns.

To view the Included Transactions Details

1.  Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > Form 26Q .

2.  Select Included Transactions , and press Enter .

The Included Transactions Details screen appears.

Transaction Types

  • Booking Voucher: Displays the count of booking voucher that are recorded without TDS deduction to book the expenses.

  • Booking with Deduction Voucher: Displays the count of booking voucher that are recorded with TDS deduction to book the expenses.

  • Deduction Voucher: Displays the count of all the deduction entries passed during the report period.

  • Advance Payment to Party (with Deduction): Displays the count of all the advanced payment made to the party against the service that will be availed in the future.

  • Reversal: Displays the count of all the entries recorded for TDS reversal.

  • Overridden by User: Displays the count the TDS vouchers that were recorded and saved by overwriting the pre-defined tax details.

(B) Excluded Transactions (Vouchers) Details in Form 26Q TDS Report in Tally.ERP9

The Exclude Voucher Details screen displays the count of all transactions not being considered for generating the returns.

To view the Exclude Voucher Details

1.  Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > Form 26Q .

2.  Select Excluded Transactions .

3.  Press Enter .

The Excluded Transactions Details screen appears as shown below:

Excluded Transactions (Vouchers) Details in Form 26Q TDS Report in TallyERP9
(Fig-39)

To view the transactions grouped under each category

1.  Select the category or voucher type as applicable.

2.  Press Enter . The Excluded Voucher screen will display the list of excluded vouchers for the selected voucher type.

3.  Select the transaction and press Enter to view it in alteration mode.

(C) Uncertain Transactions Details in Form 26Q TDS Report in Tally.ERP9

The Uncertain Transactions Details screen displays all the transactions that do not fulfill the criteria of the Included Transaction and Excluded Transactions categories. A voucher will be listed as uncertain when there is insufficient information entered in masters and transactions.

To view the Uncertain Transactions Details

1.  Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > Form 26Q .

2.  Select Uncertain Transactions .

3.  Press Enter to view the report as shown below. Click the exception type to view the procedure of resolving it.

Uncertain Transactions Details in Form 26Q TDS Report in TallyERP9
(Fig-40)

Transactions with exceptions can be resolved from this report, and included to form a part of 26Q generation.

2. Deduction Details - Form 26Q (TDS) Report in Tally.ERP9

The Deduction Details section under the TDS Reports for Form 26Q or 27Q denotes the type of deduction under which each of the Included transaction is grouped.

The deduction details are classified into:

  • Deduction at Normal Rate

  • Deduction at Higher Rate

  • Lower Rated Taxable Expense

  • Zero Rated Taxable Expense

  • Under Exemption Limit

  • Exempt in lieu of PAN Available

The assessable value, tax deductible, and the tax deducted for transactions grouped in the above categories are displayed here.

To view the Deduction Details

1.  Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > Form 26Q or Form 27Q .

2.  Select the required deduction under Deduction Details , and press Enter .

The Deduction Details screen appears as shown below:

Deduction Details - Form 26Q (TDS) Report in TallyERP9
(Fig-41)

To view the PAN number of each deductee

1.  Click F12:Configure .

2.  Set the option Show PAN Number to Yes .

The Deduction Details screen with PAN numbers appears as shown below:

Deduction Details with PAN Number- Form 26Q (TDS) Report in TallyERP9
(Fig-42)

3. TDS Payment Details - Form 26Q (TDS) Report in Tally.ERP9

This section contains details of all TDS payment vouchers of the current period and displays all payment entries recorded for interest, penalty, late fee, and so on. These other payment entries for interest, penalty, and late fee, and so on will be displayed under Other Payments .

Payments made to party, petty expenses, or any statutory payments other than that of TDS are not displayed here.

To view the deduction voucher for each of the nature of payments

1.  Go to Gateway of Tally > Display > Statutory Reports > TDS Reports > Form 26Q .

TDS Payment Details - Form 26Q (TDS) Report in TallyERP9
(Fig-43)

2.  Select the nature of payment under Particulars and press Enter , to view the Payment Voucher screen.

TDS Nature of Payment Details - Form 26Q (TDS) Report in TallyERP9
(Fig-44)

3.  Select the required voucher and press Enter to view all the deduction vouchers recorded for the selected party.

TDS Deduction Details of Partywise - Form 26Q (TDS) Report in TallyERP9
(Fig-45)

To view other payments

1.  Select Other payments (Interest, penalty, late fee, etc.) under Particulars in Payment Details , as shown below:

TDS Other Payment Details - Form 26Q (TDS) Report in TallyERP9
(Fig-46)

2.  Press Enter . The detailed mode (press Alt+F1 ) of Payment Voucher report for other payments appears as shown below:

TDS Payment Voucher Report of Other Payment Details - Form 26Q (TDS) Report in TallyERP9
(Fig-47)

To export the payment voucher

1.  Press Alt+E to view the Exporting screen.

2.  Select the required Format .

3.  Enter the required Output File Name .

4.  Press Enter to export the vouchers.

 
TDS Payment Transaction using Tally.ERP9 TDS Using Tally.ERP9 Form 27Q (TDS) Report in Tally.ERP9


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