To make a TDS (Tax Deducted at Source) payment entry in Tally, go to Gateway of Tally > Accounting Vouchers > Payment (F5), then click Stat Payment (F10). Select TDS as the Tax Type and enter the relevant details, such as the period and the amount, to record the payment from your chosen bank or cash account to the TDS Payable ledger
Steps to Record a TDS Payment Entry
- Open the Payment Voucher: From the Gateway of Tally, go to Accounting Vouchers and press F5 for Payment.
- Select Statutory Payment: Press F10: Stat Payment.
- Choose Tax Type: In the Statutory Payment screen, select TDS from the list of Tax Types.
- Enter Details: Input the required information, including the Period From and Period To, and the total Amount being paid.
- Select Payment Account: Under the Account field, choose your payment account, such as your bank or cash ledger.
- Select TDS Ledger: In the Particulars section, select your TDS Payable ledger, and the amount will appear automatically.
- Save the Voucher: Press Ctrl + A to save the entry.
Before You Make the Entry
- Create a TDS Ledger: If you haven’t already, you’ll need to create a ledger for “TDS Payable” under the Duties and Taxes group, selecting TDS as the Type of duty/tax.
- Create a TDS Nature of Payment: Ensure you have created the appropriate TDS Nature of Payment master, which defines the specific nature of the payment for which TDS is being deducted. .