TDSxpress Software Demo

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TDSxpress Software Demo Version Head Office: SINEWAVE COMPUTER SERVICES PVT. LTD. T-22, 3rd Floor Super Mall, Salunke Vihar Road, Wanowrie, Pune 411 040.Office No (020)40161600(30Lines).

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Topics Covered Concept of T.D.S TDS Xpress Login screen Group Creation Define Assesses Payer/Buyer Contractor Contractor TDS Entry TDS Challan TDS Certificate Reports Form 16 Form 16A Form 26

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Concept of T. D. S. : TDS is a direct Tax which is being deducted from the Businessman, Salaried Employees and etc… at the time of receiving the money to reduce future Tax liability. Full form of the T.D.S. is Tax Deducted at Source. It is a part of Income Tax, since we are taking exemption of the Tax already paid from our gross Tax liability under Income Tax . This T.D.S. is getting deducted from whom we are hiring services only, this is not being calculated on the Sales or Purchases amounts like as MVAT. Because of this government got revenue in rolling, more assesses comes under Income Tax, problem of keeping track of tax payees reduced so it is introduce and treated as a separate law under Income Tax.

TDSxpress Login screen : 

TDSxpress Login screen Secure, protected by passwords, unauthorized entry to system is not permitted. Multiple databases may be maintained for multiple chartered accountants/ consultants who may be partners however work on different client bases. You may keep separate copies of the product on network with all using single license purchased from SCSPL. You may update the product with latest version in about 10-12 minutes; the new versions may be needed for any tax law changes, new formats of various forms and new features incorporated in the software. We strongly recommend you to update the database structure using the link (Update T.D.S. Database) provided on the Login screen to prevent any conflicts while using the software.

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Group Creation : Defining Deductor ( Assessee ) :- This is a first step of the software -> Miscellaneous -> TDSExpress Home -> New -> Type Group Name -> Enter Address -> Save -> Close -> Assessee Name -> Click on Open -> Enter all static information -> Red fields are compulsory -> TAN & PAN number is must, without this your returns will not validate -> If you want to deduct TDS from Salary then you have to tick on Employer

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Define Assesses Under a pre-defined group, now you could define a taxpayer. Name of Taxpayer, Status along with all other static information such as address, PAN, TAN, Ward No. etc. are entered. In case the taxpayer is an employer, you may tick the employer. Thereafter, you need to specify whether the working of TDS on Salaries should be done on Monthly or Annual basis.

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Payee/Buyer -Contractor Select the Payee/Buyer->Contractor option, to open the Contractor screen. Various Payees are covered as seen in above screen. Similar pattern is maintained all payees except. Employees: Where in details for individual, date of birth, data of joining and other relevant information is asked as required on Form 16. Shareholders: There is information such as number of units/shares held along with paid up values. On the subsequent screen details for contractor payee (which may be extended to other similar payees) have been explained.

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Contractor-TDS Entry You may select any one of earlier defined contractor from the drop down. All previously entered entries for the contractor would be displayed in the grid. You may edit preciously entered entry or may make a new entry. Enter the reference document number and date by which credit of such expense is made and/or enter the payment details for such expense along with the gross amount of expense. TDS is self-computed along with relevant surcharge/ education cess. For a given month you may enter multiple entries here for one and/or many contractors and make payment for all such TDS deductions vide one Challan as will be seen on next screen.

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TDS Challan We would click on all such entries, which need to be included on this payment. We are required to enter the Challan number, cheque number, date and bank where drawn and deposited. Interest, may be computed optionally upon ticking ‘Include Interest’, interest based on due date of payment and date on which amount is paid is self-computed. Upon going into the Challan Payments option, all previous payments are displayed. You may print the Challan from here, it requires click on Challan and print. You may edit/delete any previously entered Challan.

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TDS Certificate Preparation and printing of TDS certificates is done from Image Upon selection of the Payee, all entries made to respective payees are displayed. Provision is available for generating certificates on Monthly, Quarterly or Annual basis. Certificate Number is self-generated and may be changed by user. On clicking on green arrow, certificate is generated. Option for undoing a certificate previous generated is available by clicking on Red arrow. Print option is available from Reports – Form 16A option menu.

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Reports Form 16 1 2 Select the Report->Form 16A (Image 1) option to get the Form 16A screen. (Image 2) Reports menu, Form 16A provides for Printing or Emailing of Form 16A. You are required to select the type of payee i.e. contractor, Broker or other. Subsequent to the above, you are required to select the payee for which Form 16A is required to be printed. All Form 16A’s will be displayed on the grid. You may select one, more or all and give a print command. From the display screen, you may print the certificate.

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Form 16A Certificate of deduction of tax at source under section 203 of the Income tax Act, 1961. Options for Emailing, DMP printing, exporting of the certificates are made available from the above screen.

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Form 26 Reports menu, Form 26 would bring you to the above screen. The following options are provided here, E-file, provides for generating the txt file required to be submitted to NSDL may be done from here. Appropriate validation by our software and as well as per NSDL utility are made available within the software. Export, as data entry of TDS entries is time consuming, you may send a XLS format of Form 26 to your respective clients for subsequent import to this software. Print, Generates Form 26 in Windows format, with option of printing the same in DMP format and/or emailing the same to your respective client.

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THANK YOU ………..