TAX DEDUCTION AT SOURCE SOFTWARE

VirtualSplat's Tax Deduction at Source Software provides you the accounting and the format for the simplicity and fast transaction/payment of TDS.

Features Of Tax Deduction Source Software:-

VirtualSplat's TDS Software is the software that completely automates the legal and functional aspects of Tax Deduction at Source as per Income tax Act, 1961.

Since TDS transactions originate at the accounting level, these Software can import such transactions from FA/ ERP software, thereby saving time required for data entry and reconciliation.

TDS Rates can be fixed, updated by user by giving the break-up of basic rate, surcharge and education cess. Moreover the threshold limit for each TDS Section can also be defined by the user.

Moreover there is flexibility provided to modify if Government Rule or Act changes.

For each deductee, apart from Name, PAN and contact details, default TDS section, status and sub status is maintained to capture the default rate. Threshold limit and issuance of monthly/ yearly certificate can be decided for individual deductee.

TDS deduction entries can be imported from accounting software/ ERP or entered manually.

Challans can be auto-generated by single click or part payment, adjustment of surplus -deficit can be achieved by manual generation of challan.

Challan printing on plain paper enables payment to the bank and later capturing mandatory BSR Code and Challan Identification Number. Also there is features to view data at the end in the format acccpted by the Government Officials.

TDS Certificate can be auto-generated or manually controlled . A pre-fix can be given to certificate number.

Printing of TDS Certificate can be controlled by issuing the same to only deductees having valid PAN.

Several TDS management tools help in compliance with law e.g.

  • Auto generation of letters asking for PAN

  • Auto generation of TDS covering letters

  • Auto generation of letters for yearly TDS Certs.

  • Unpaid TDS list for statutory auditor

  • TDS compliance listing for tax auditor

  • Interest calculation for delayed payment

    On Screen enquiry of TDS deductions , challans and TDS certificate with several filter tools

    FAQ'S Regarding TDS:-

    1.What is eTDSXL?

    Sol. eTDSXL is a light weight software to prepare the annual returns as per NSDL norms for section 24,26 and 27 in electronic format. This is a Microsoft excel based software and requires Microsoft Excel 97 onwards application.

    2. When I open any excel file it shows Invalid! or blank in the place of Serial No.?

    Sol. Please close all files in excel. Open Microsoft Excel Select Menu Tools->Macro->Security and Select the option Medium in the place of High. Also remember to select "Enable Macro" option while opening any of the eTDSXL file.

    3. In Form 26 after entering all the information why I receive the error of "Missing Challan Information" in problem list?

    Sol. While entering data please ensure the following things

    #The value in "Date of payment to credit of Central Govt." column in deductee information is same as the value mentioned in the column "Date of Transfer Voucher / Challan" in Challan Payment sheet.

    #The Value mentioned in "Bank-Branch Code" column in deductee information is same as the value mentioned in the column "Bank-Branch Code" in Challan Payment sheet.

    #The Value mentioned in "Challan No given by Bank / Tr. Voucher No." column in deductee information is same as the value mentioned in the column "Challan No given by Bank / Tr. Voucher No." in Challan Payment sheet.

    4. Why I am getting error like Invalid Rate of TDS?

    Sol. Please ensure that the amount mentioned in deductee details sheet in column "Rate at which TDS deducted" the TDS rate is restricted to 2 i.e. 2.13% is correct where as 2.125% is not allowed.

    5. How to enter a data in Form 24 Excel File?

    Sol. Form 24 is divided into 4 different sheets

    Deductor Information:

    Enter the information about Assessee / Employer. This information is mandatory.

    Deductee Information:

    Enter the master information of the employee like Name, PAN, Join/Resignation dates etc. along with salary details. Here enter the Gross Salary amount in column No. 105. In column No. 106 enter the Taxable amount of u/s 10 allowance.

    Perquisites Information:

    Enter the details of the perquisites given to employee. You have to take care of the Sr. No. and Name that you have mentioned in this Sheet and it should be same as mentioned in Deductee Details sheet.

    Challan Payment:

    Mention here the challan details by which you made the payment to the Income Tax department on behalf of the Employee. the Challan date should not be more than the date of your computer. Here you may enter the consolidated details of challan.

    Additional Information:

    If you are generating form 16 from eTDSXl software then you have to enter the information in this sheet. This sheet allows you to enter the information about income from other sources, Under chapter 88 investment details, house property etc. As well as you have to enter the bifurcation of Challan payments in Challan Information Sheet.

    6. Why it displays error "Run time error 13 Type mismatch when I click on Step 4 Button in startup sheet?

    Sol. Please ensure that you have entered the 0 (zero) in place of blanks where the amounts are not applicable.

    7. What to do if the error comes as "3089|Invalid Flag For Tax Payable/Refundable", "3070|Invalid Tax Payable or Refundable/Not equal to Col. 225-228 (Old)/Not equal to Col. 226-230 (New)" and 990| ERROR_INVALID_RECORD _LENGTH in error file generated by NSDL utility?

    Sol. This error normally occurs when your value in Net Tax Payable (226) column is not matching with Total income Tax deducted at source (230) i.e. TDS Income Tax+ TDS Surcharge + Education Cess.

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