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TDS on Advance Payment using Tally.ERP9

You can create an accounting voucher for advance payments made directly or by a third-party, along with the applicable TDS using Tally.ERP9.

Example-1 : (To Create a Advance Payment Directly)

On 1-5-2015, ABC Company paid an Advance of ₹ 1,00,000 on Rent to MAR Tech Park as Rent directly.

To create an advance payment

1.  Go to Gateway of Tally > Accounting Voucher > F5: Payment

2.  Click F2: Date to change the date to 01-05-2015 .

3.  Select bank ledger in the Account field.

4.  Select MAR Tech Park in the Particulars field.

5.  Enter 100000 in the amount field.

6.  Select the TDS tax ledger. The TDS amount will automatically filled in the Amount field.

7.  Press Enter .

8.  Enter the Bank Allocation Details , as required.

9.  Press Enter .

10.  Enter Narration , if required.

The Payment invoice appears as shown below:

TDS on Advance Payment Directly using TallyERP9
(Fig-32)

11.  Press Ctrl + A to save the invoice.

Example-2 : (To Create an Advance Payment via Thirt Party)

On On 2-4-2015, XYZ Company paid an advance of ₹ 1,00,000 on Rent to MAR Tech Park as Rent on behalf of ABC Company

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

2.  Click F2: Date to change the date to 01-05-2015 .

3.  Select MAR Tech Park , debit 100000 .

4.  Select XYZ Company , credit 90000 .

5.  Select the TDS tax ledger. The TDS amount is automatically filled.

6.  Press Enter .

7.  Enter the TDS Details , as required .

8.  Press Enter .

9.  Enter Narration , if required.

The Journal invoice appears as shown below:

TDS on Advance Payment via Third Party using TallyERP9
(Fig-33)

10.  Press Ctrl+A to save the invoice.

 
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