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TCS in Tally.ERP 9 - Part 51 Video Lecture | Tally ERP 9: Complete Training - Software Development

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FAQs on TCS in Tally.ERP 9 - Part 51 Video Lecture - Tally ERP 9: Complete Training - Software Development

1. What is TCS in Tally.ERP 9?
Ans. TCS stands for Tax Collected at Source. In Tally.ERP 9, TCS refers to the feature that allows businesses to collect tax on certain specified transactions at the time of sale. This tax collected is then deposited with the government.
2. How can I enable the TCS feature in Tally.ERP 9?
Ans. To enable the TCS feature in Tally.ERP 9, you need to go to the F11: Features menu and enable the option "Enable Tax Collected at Source (TCS)" under Statutory & Taxation features. Once enabled, you can configure the TCS rates and other settings as per your business requirements.
3. What are the different types of transactions on which TCS is applicable in Tally.ERP 9?
Ans. TCS is applicable on various transactions such as sale of scrap, sale of minerals, sale of timber, sale of alcoholic liquor, and sale of certain goods specified by the government. Tally.ERP 9 allows you to configure the applicable TCS rates for each type of transaction.
4. How can I generate TCS reports in Tally.ERP 9?
Ans. To generate TCS reports in Tally.ERP 9, you can go to the Display menu and select Statutory Reports. Under Statutory Reports, you will find options like TCS Challan, TCS Certificates, TCS Form 27EQ, etc. You can select the desired report and customize it based on your requirements.
5. Can Tally.ERP 9 automatically calculate TCS on transactions?
Ans. Yes, Tally.ERP 9 can automatically calculate TCS on transactions once you have enabled the TCS feature and configured the applicable rates. When you enter a transaction that falls under the TCS category, Tally.ERP 9 will calculate and display the TCS amount based on the configured rates.
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