TDS Configuration

TDS

Tax Deducted at Source (TDS)

TDS is one of the tax collecting method used in India. It is governed under the Indian Income Tax Act 1961 and managed by Central Board of Direct Taxes (CBDT). The law states that any permissible payment shall be paid after deducting prescribed percentage as tax – usually over a range of 1% to 10%.

TDS Configuration in Accoxi

Accoxi is most modern accounting software that provides easy and deliberate results for accounting. It provides the function of TDS Configuration and user can set the TDS format of the Organization in it.

TDS (1)

TDS Configuration

Click on the Settings menu on the top right side of the page. Then list of settings tab will open.

Select the option TDS Configuration from TDS option, then it opens to Manage TDS page.

Manage TDS

It consist of various menus and it shows the details of created tax name, its section and tax rate.

TDS2

   Fields

          Description

Filter

Filter of TDS can be done in two ways-Either user can directly enter the tax name into the search bar near filter option or by clicking the filter drop down. The user can filter the data by selecting TDS section or by enter tax name.

   

          

 

 

Refresh

If the latest data is not displayed, click on the refresh icon on the top right corner of the page to fetch  the new data. 

                      

 

Add New

This menu is using for the purpose of create a new Tax. By clicking the Add New menu, new window will open and the user needs to enter the details to the form to create a new tax. 

 

                   

 

Export

The TDS details can be export to Excel format. Click on the Export button at the top right corner near the +New button. Select the file location and click on save.

 

     

 

Edit

Edit menu helps the user to edit or correct the details that entered in the TDS and can save again after it. When click on the edit menu, the screen will goes to previous window of manage TDS form.

 

               

 

Exit

Exit menu is using for go to the previous page without saving the TDS form.

 

                    

 

Steps to Add New Tax
1.Click on the Settings menu on the top right side of the page. Then list of settings tab will open, select the option TDS Configuration from TDS option, then it opens to Manage TDS page.
2.Click on the Add New menu on the top right side of the page, then it opens to new tax form.
3.Select the section of tax on TDS Section By clicking on the select option, list of available sections will appear and user can select the required one.
4.After select the TDS section, user needs to enter the name of new tax on Tax Name
5.Then user needs to enter the rate of tax on tax field.
6.After enter the whole details, click on the Save menu to create new Tax.

                                

Frequently Asked Questions?

01How do I filter the TDS data?

  • Click on the settings => TDS Configuration => manage TDS opens
  • Filter option is available below the TDS configuration search bar at the left hand side. TDS configuration can be filtered based on TDS section and tax name. Either you can give any of the said criteria directly into the search bar near filter option or by clicking the filter down arrow option you can give the details into the fields directly.

02How do I manage TDS?

  • Click on the settings => TDS configuration => manage TDS opens
  • Click on the Add New menu on the top right side of the page, then it opens to new tax form.
  • Select the section of tax on TDS Section field.
  • By clicking on the select option, list of available sections will appear and user can select the required one.
  • After select the TDS section, user needs to enter the name of new tax on Tax Name field.
  • Then user needs to enter the rate of tax on tax field. After enter the whole details,
  • click on the Save menu to create new Tax.

03How do I export TDS data?

  • Click on the settings => TDS configuration => manage TDS opens
  • Click on the Export button at the top right corner near the +New button in the manage TDS window.
  • Select the file location and click on save.