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Form 27Q (TDS) Report in Tally.ERP9

Form 27Q is a Quarterly return for deduction of tax in respect of payments made to non-residents other than salary. The Form 27Q report in Tally.ERP 9 assists you in generating accurate returns to be filed.

To generate Form 27Q

1.  Go to Gateway of Tally > Display > Reports > Form 27Q .

2.  Click F1 : Condensed .

The Form 27Q report has three sections: Statistics of Voucher , Deduction Details , and Payment Details .

Form 27Q (TDS) Report in Tally.ERP9
(Fig-48)

1. Statistics of Vouchers in Form 27Q (TDS) Report in Tally.ERP9

All transactions, whether recorded correctly, incorrectly, or inadequately will be captured and categorized in the Form 27Q report as follows:

(A) Included Transactions

These are transactions that will be a part of Form 27Q. Transactions that will be considered as Included for generating Form 27Q are:

  • Booking entries, with or without TDS deduction
  • TDS deduction entries
  • Advance payments made to parties
  • TDS adjustment entries (in the case of government entities)
  • Entries accounting for TDS reversals and TDS deduction w.r.t escalations and de-escalations

(B) Excluded Transactions

These are transactions that do not carry the TDS details that are requisite to generate Form 26Q, and hence will be excluded while generating the form. Transactions that will be considered as Excluded for generating Form 26Q:

  • All entries where TDS is not applied
  • Entries recorded using any of the following Voucher Types:
    • Payment
    • Contra
    • Inventory Vouchers
    • Sales Order
    • Purchase Order
    • Debit Note (recorded for purchases with no TDS implications)
    • Credit Note (entries with no TDS implications)
    • Vouchers marked as Optional
    • Payroll Vouchers

(C) Uncertain Transactions

These are transactions that do not fulfill the criteria of the Included and Excluded categories. A voucher will be listed as Uncertain  when there is insufficient information entered in:

  • Masters

  • Transactions

2. Deduction Details in Form 27Q (TDS) Report in Tally.ERP9

This section denotes the type of deduction under which each of the Included transaction is grouped. 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.

3. Form 27Q TDS Payment Details in Tally.ERP9

This section contains details of all TDS payment vouchers of the current period. It displays all the payment entries recorded for interest, penalty, late fee, and so on. These other payment entries for interest, penalty, and late fee etc 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 27Q .

Form 27Q TDS Payment Details in TallyERP9
(Fig-49)

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

Form 27Q TDS Payment Details in TallyERP9
(Fig-50)

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

Form 27Q TDS Payment Details in TallyERP9
(Fig-51)

To view Other payments such as Interest, Penalty, late fee etc.

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

Form 27Q TDS Payment Details in TallyERP9
(Fig-52)

2.  Press Enter . The Payment Voucher report for other payments appears as shown below:

Form 27Q TDS Payment Details in TallyERP9
(Fig-53)

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.

 
Form 26Q (TDS) Report in Tally.ERP9 TDS Using Tally.ERP9 TDS Report on Challan Reconciliation, TDS Outstanding, TDS Ledger without PAN etc. using Tally.ERP9


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