TDS on multiple nature of payment

Sobha Agency को Commission का और Advertisement का पैसा देना है। और दोनों पर TDSकाटना है।

Step 1

Company create

Bill-By-Bill =Yes

Inventory =No

TDS -Yes

Step 2

GOT >Create >TDS Nature of Payments

1. Name: Commission

Control +I

Section: 194H

Code: 94 H

Rate without PAN: 20%

Rate for Individuals /HUF (With PAN):5%

2. Name: Advertisement

Control +I

Section: 194c

Code: 94C

Rate for Individuals /HUF (With PAN):2%

Rate without PAN: 20%

Step 3

Ledger Create

M/s. Sobha Agency A/c

Under: SC

Bill-by-bill: Yes

TDS Deductible: Yes

Deductee Type: BOI- Individuals

TDS in Same Voucher: Yes

PAN/IT No. AAAAAS1234E

2. Advertisement

Under: Indirect Expenses

TDS: Applicable

Nature of Payment: Advertisement

3. Commission A/c

Under: Indirect Expenses

TDS: Applicable

Nature of Payment: Commission

4. HDFC Bank A/c (Opening Balance डाल दे )

Under: Bank

5. TDS on Advertisement

Under: Duties & Tax

Nature of Payment: Advertisement

6. TDS on Commission

Under: Duties & Tax

Nature of Payment: Commission

Step 4

1. F9 (Purchase)

Party Name: Sobha Agency A/c

Particulars:

Advertisement Expenses A/c 1, 10,000.00

Commission A/c 30,000.00

Got > Display more report> 26Q report

Balance deductible: 3,700

Observations we will get the balance deductible amount as 3,700. This amount is the total of TDS on commissions at 5% on assemble value 30000 i.e. 1,500 + TDS on advertisement at a 2% on assessable value of 1, 10000.00 i.e. 2,200.00 (1,500+2,200=3700.00)

2. F5 (Payment)

Single Entry Mode

Account: HDFC Bank A/c

Agst. ref

TDS on Advertisement 1,500.00

3. F5 (Payment)

Single Entry Mode

Account: HDFC Bank A/c

Agst. ref

TDS on Commission 2,200.00