TDS Liabilities
TDS (Tax Deducted at Source) is a percentage of income withheld by the payer and directly remitted to the government on the individual’s behalf. Zoho Books lets you view all TDS liabilities and associate TDS challans with them. You can also record payments for the liabilities.
Enable TDS Liabilities
Before generating the TDS liabilities, you need to enable the feature. Here’s how:
- Go to Settings.
- Go to Taxes and Compliance and select Direct Taxes.
- Under Income TDS Settings, check the Enable TDS Liabilities Report option.
- Select the month from which you want to generate the TDS liabilities in the Generate From field.
- Click Save.
TDS liabilities are enabled from the month you selected.
View TDS Liabilities
After enabling the feature, the TDS liabilities will be generated starting from the month you selected. To view the TDS liabilities:
- Go to Filing & Compliance on the left sidebar and select TDS Liabilities.
- The TDS liabilities will be listed starting from the month you selected. Select a liability to view all the transactions from which TDS was deducted for that month.
The details of the liability will be displayed, including the Total TDS, Paid Amount, and Balance.
Yes