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Accounting for Expenses without TDS and Deducting TDS Later in one Invoice using Tally.ERP9

Example :

On 1-4-2019, ABC Company paid MAR Tech Park ₹ 5,00,000 as rent (accounting only expenses). On 14-4-2019, Deducting Applicable TDS.

It is always expected that the deductor should deduct the tax in the same invoice in which the expenses are accounted. But in some cases, deductor may follow the procedure of accounting only expenses on the receipt of bills and later, deduct applicable tax on all such accounted expenses in one invoice.

Following are the Steps ....

  1. Creating Party Ledger (TDS) in Tally.ERP9

  2. Creating Expenses Ledger (TDS) in Tally.ERP9

  3. Creating TDS Ledger in Tally.ERP9

  4. Accounting for Expenses without TDS in Journal using Tally.ERP9

  5. Deductiong Applicable TDS on Expeness on One Invoice using Tally.ERP9

4. Accounting for Expenses without TDS in Journal using Tally.ERP9

1.  Go to Gateway of Tally > Accounting Voucher > F7: Journal.

2.  Click F2: Date to change the date to 1 -4-2015 .

3.  Debit the Rent expense ledger.

4.  Enter 500000 in the amount field.

5.  Credit MAR Tech Park.

6.  Enter 500000 in the amount field.

7.  Press Enter .

8.  Enter Narration , if required. The Journal voucher appears as shown below:

Accounting for Expenses without TDS in Journal using TallyERP9
(Fig-22)

9.  Press Ctrl+A to save the voucher.

5. Deductiong Applicable TDS on Expeness in One Invoice using Tally.ERP9

1.  Go to Gateway of Tally > Accounting Voucher > F7: Journal.

2.  Click F2: Date to change the date to 14-4-2015 .

3.  Debit MAR Tech Park .

4.  Enter 100000 in the amount field.

5.  Enter the required details in the Bill-wise Details screen.

Deductiong Applicable TDS on Expeness in One Invoice using TallyERP9
(Fig-23)

6.  Press Enter .

7.  Credit TDS on Rent ledger.

8.  Enter 100000 in the amount field.

9.  Enter the required details in the TDS Details screen.

Deductiong Applicable TDS on Expeness in One Invoice using TallyERP9
(Fig-24)

10.  Press Enter .

11.  Enter Narration , if required. The Journal voucher appears as shown below:

Deductiong Applicable TDS on Expeness in One Invoice using TallyERP9
(Fig-25)

12.  Press Ctrl+A to save the voucher.

 
Accounting for TDS on Expenses with Inventory using Tally.ERP9 TDS Using Tally.ERP9 TDS on Expenses towards Fixed Asset using Tally.ERP9


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