Record TDS Under Section 194Q on Purchase In Tally Prime 5.0 #viralvideo #trending #tallyprime
How 194Q TDS on Purchase of Goods Entry In Tally Prime 5.0 #video #videos #youtube #viralvideo #how
Understanding SECTION 194Q in TALLY PRIME 5.0: Master Your INCOME TAX Strategy Today! #youtubevideo
Record TDS Under Section 194Q on Purchase in TallyPrime 5.0 #tallyprime #tds #education #how
Applicable to Release 5.0 and later.
This video demonstrates the process of managing TDS deductions on purchases under Section 194Q in TallyPrime Release 5.0.
At the time of creating a TDS Nature of Payment, you can enter the threshold limit and configure to deduct TDS as per the limit.
Whether you're a business owner or an accounting professional, mastering these techniques will simplified your TDS processes.
Watch the video to automate your TDS transactions under Section 194Q in TallyPrime 5.0.
00:00:00 Tally Prime 5.0 TDS section
00:00:03. 194q as part the finance bill 2021 TDS
00:00:07 has to be dreated when purchasing Goods
00:00:09 under Section 194 Q if the deductor
00:00:13 annual turnover in the previous
00:00:15 Financial year exceeded rupees 10 CR
00:00:17 section 194 Q becomes applicable in The
00:00:20 Current financial year if the purchase
00:00:23 or advanc payment to the deduct exceeds
00:00:26 rupees 50 lakh then TDS must be deducted
00:00:29 on the value of the threshold limit of
00:00:31 rupes 50
00:00:33 lakh calculate TDS at 0.1% if the seller
00:00:37 has a pan or at 5% if the seller does
00:00:40 not have a
00:00:42 pan the bill also declared that entities
00:00:45 like the government e-commerce operators
00:00:48 sellers charging TCS nris are Exempted
00:00:52 from TDS deduction under section 194 Q now
00:00:55 let us see how you can handle all the
00:00:58 previous Provisions in in tally Prime
00:01:02 5.0 first create statutory
00:01:05 master from TDS nature of payment and
00:01:10 press alt+
00:01:13 h to get all predefined nature of
00:01:16 payment select the proper nature of
00:01:23 payment the name, section and payment
00:01:26 code are filled automatically put 50 Lakhs
00:01:29 as a exemption limit and enable the
00:01:31 option calculate tax on value exceeding
00:01:34 the threshold or exemption limit now let
00:01:37 us record purchase voucher below the
00:01:39 threshold
00:01:41 limit open purchase voucher type by
00:01:46 pressing F9
00:01:48 key put the bill number Select the party
00:01:51 ledger alter the party
00:01:54 ledger and
00:01:56 set the pan number
00:02:03 for our
00:02:10 creditor save the ledger by pressing
00:02:14 control+ a also select purchase ledger
00:02:18 with properly configured TDS
00:02:21 applicability select the product name
00:02:23 with quantity and
00:02:27 rate also set
00:02:30 all the GST related
00:02:33 details select cgst and
00:02:39 sgst with TDS ledger press control+
00:02:46 o check TDS analysis report where no
00:02:53 deduction has been
00:02:56 made save the voucher type now pass
00:03:00 another
00:03:02 voucher which is above the threshold
00:03:06 limit before proceed Please Subscribe
00:03:09 like share and comment our
00:03:13 Channel now pass the another purchase
00:03:19 voucher
00:03:23 which is stated in earlier purchase
00:03:28 voucher select all the
00:03:31 details as we stated in our earlier
00:03:34 purchase
00:03:36 voucher
00:03:39 here we can select the
00:03:42 TDS
00:03:44 ledger and press control +O where all the
00:03:48 deduction has been clearly declared
00:04:05 TDS has been automatically
00:04:08 deducted from the Credit Value set
00:04:11 narration and save the
00:04:13 voucher press alt plus
00:04:16 G that is go to
00:04:19 type 26 Q where you can
00:04:25 find the
00:04:27 detailed deduction
00:04:34 report under Section
00:04:43 [Music]
00:04:54 194q thank
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