Creating TDS Masters

The information required for TDS in the creation of ledgers depends on the features opted by you in the F11: Features screen. If you set Enable TDS [F11: Features] to No then you would not find any TDS related information in the Creation of Ledger.

Hence, make sure Enable TDS option in F11: Features > Statutory & Taxation is set to Yes.

You can specify the TDS Ledger Names under any of these main group heads Duties and Taxes, Sundry Creditors, Sundry Debtors, All Current Assets Group (except Bank, Cash and Stock in Hand/ Misc. Expenses (ASSETS)/ Loans and Advances (ASSETS) group or sub groups of these main group heads.

In case of all Loans (Liability), Branch/Divisions and Capital Account groups, you need to set Maintain Billwise Details and for Non-Trading A/cs also to YES in F11: Features to get the Is TDS Applicable option.

The TDS related issues are created as Ledgers. The TDS ledger master screen now contains a new option to specify the Tax details.

Firstly, create the following ledgers under different groups:

Tax Ledger under Duties and Taxes

Party Ledger under Sundry Creditor