How to Post TDS Receivable Entry in Tally ERP9

When you have raised service invoice to your client, on which your client/customer requires to deduct TDS based on the nature of transaction, such as professional service charges, rent on plant and machinery, contracts and advertisement etc.

 

Customer will pay invoice due amount after deduction of TDS from the receivable amount.

 

Customer is liable to pay deducted TDS amount to the Income Tax department before the due date. Hence for the deducted TDS amount you will receive form 16A from your customer, the same you can claim against provision for Income Tax.

 

 

 

Service Invoice Entry

 

XYZ Company Dr                                  1,18,000

 

To Technical service charges received  1,00,000

 

To CGST@9%                                        9,000

 

To SGST@9%                                        9,000

 

 

 

Payment From Customer

 

Bank Dr                       1,08,000

 

TDS Receivable Dr       10,000

 

To XYZ Company       1,18,000

 

 

 

Create TDS Receivable Ledger in Tally.ERP9

 

Path: Gateway of Tally -> Accounts info -> Ledgers -> Create

 

 

Name: TDS Receivable

 

Under: Loans & Advances (Asset)

 

Press enter to save the screen

 

 

 

Recording of Sales Invoice in Tally.ERP9

 

Path: Gateway of Tally -> Accounting Vouchers -> Sales Voucher (F8)

 

 

Press enter to save the screen

 

 

 

Recording of Payment Receipt Entry From Customer

 

 

Credit XYZ Company and give debit to TDS receivable and Bank account.

 

Press enter to save the screen