Adding & Editing TDS Section Definition in Ginesys Web

Owned by Aparajita Basu Roy
Last updated: Jul 12, 2022 by Subhasree Banerjee (Unlicensed)

TDS Sections are parts of Government fiscal decisions which legally define the rates of tax amount deducted at the source of financial transactions under various heads.

This Article describes the process of manage TDS Section. 


 Add TDS Section Definition

Prerequisites

  1. The users' role must have access to the Add app operation in the TDS Section Definition feature in Finance - Setup - TDS through Roles in Ginesys Web - Admin - Security.

Step-by-step guide

The process is divided in the following steps:

  1. Go to Ginesys Web > Finance > TDS > TDS Section.

  2. TDS Section Definition module will open. 

  3. Click on Add button.

  4. Add :TDS Section form will open.

  5. There will be two section -General Information & Details Information.

  6. General Information:

            a. Put in TDS Name and Section.

            b. Select TDS Agency from the lookup window.

            c. General ledger will be populated as per TDS Agency name selection.


               

       7. Details Information:


            a. Source Name can be selected from the drop-down list.


            b. Source Type will be populated as per Source Name selection.

            c. Select Effective Date & Rate. You can not give Effective date as future date.

        8. Once done, click on Save Button. 

        9. The TDS Section will be saved successfully. 

 Edit TDS Section

Prerequisites

  1. The users' role must have access to the Edit app operation in the TDS Section Definition feature in Finance - TDS through Roles in Ginesys Web - Admin - Security.

Step-by-step guide

The process is divided in the following steps:

  1. Go to Ginesys Web > Finance > TDS > TDS Section.

  2. TDS Section Definition module will open. 

  3. Select one TDS Section to edit. You cannot select multiple documents to edit. 

  4. Go to Action > Edit.


  5. All the details will be populated.      

  6. Modify the required fields as per your requirement.

  7. Click on the Save button to save the modified TDS Section.



Some important TDS Section

ParticularsTDS Rate
Section 192: Payment of salary
Section 192A: Premature withdrawal from EPF		Normal Slab Rate
10%
Section 192A: Premature withdrawal from EPF10%
Section 194: Payment of any dividend10%
Section 194A: Income in the form of interest (other than interest on securities)10%
Section 194D: Insurance commission5%
Section 194H: Commission or brokerage5%
Section 194O: For the sale of goods or provision of services by the e-commerce operator through its digital or electronic facility or platform.1%
Section 194P: Tax deduction by specified banks while making payments (pension or interest) to specified senior citizens or age 75 years or more.Tax on total income as per rates in force
Section 194Q: Payments to residents for the purchase of goods if the aggregate value of goods exceeds Rs. 50 lakhs.(TDS is deductible on value exceeding Rs 50 lakhs)0.1%
Any Other Income10%


You can only Extinct the record.

  • A new Type field has been added to differentiate Goods type and Service type of TDS Section master.

  • All the existing sections would be converted into Service type.

Online Printing option is now available from version 12.6.6 onwards.