Tally – Tax Deducted at Source (TDS)

The Tax deducted at Source course is designed for working professional and it covers instructions starting from fundamentals to practical of TDS, Basic Concepts of TDS, TDS Process, Configuring TDS at different levels, – Recording TDS compliant transactions like Expenses Partly Subject to TDS, Booking Expenses and TDS deduction on crossing Exemption Limit, Accounting Multiple Expenses and Deducting TDS later, TDS on Expenses at Lower and Zero Rate, TDS on Expenses at Higher Rate, Reversal Adjustments in TDS, TDS on Works Contract attracting GST, TDS on Interest Paid on Loans Taken from parties, TDS on Income from Foreign Currency, Bonds or Shares of Indian Company, Recording Transaction when TDS Exemption limit is not crossed, TDS payment to department, Generating TDS Challan (ITNS 281), TDS Reports – Form & e-filing Form 26Q, Form 27Q. The course is enriched with numerous real business scenarios, charts, screenshots, observations, solved illustrations, and practice scenarios to help the learner experience the simplicity and the power of technology of working on TallyPrime. Upon solving these live business scenarios, the learner will be able to understand the intricacies of business operations and would be equipped to handle such transactions in the daily work environment with ease.

– You will Learn the Basic Concept of TDS with Simple Examples

– Full Form of TAN and Procedure to apply for TAN

– Full Form of TDS, Two Types of TDS Certificates , Form 16, Form16A, explained with example

– Concept of TDS deduction, TDS for Salary paid with Exception Limit, Exempt Allowance, other deductions,

– Minimum Salary One Should have for TDS to be deducted by the employer.

– Concept of TDS calculations with different Sections such as 194A, 194C explained with four Business Scenarios

– What is Form 24 Q, Form 26Q, Form 27Q

– Different Consequences of Non-deduction of TDS such as late deduction of TDS, Late payment of TDS

– Late filing of TDS Returns, Penalty for Late Filing of TDS Returns.

– Explained how to log on to Income tax website, Register and Generate password, View tax Credit Statement from TRACES Website

– Income Below Exemption Limit, TDS at lower rate or Nil rate, Explained Form 15G, Form 15H, Form 13

– Concept of TDS refund process explained with real life example

– Explained Section 194-I, Section 194IA, Section 194LA with example

– TDS deductation Rules, Payment Rules, Rturn Filing Rules with interest & penalty

– Process explained How to Create a company in Tally Prime , Activating GST and TDS

– Introduction of Initial Capital into the Business

– Configuring TDS at Ledger Level, Creating TDS Statutory Masters, Booking of Expenses in Purchase Voucher

And many more scenarios

Who this course is for:

• Working Professionals
• Freshers
• Tax Practitioners