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How to pass TDS payment entry on rent in Marg ERP software ?

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Section 194I: TDS on Rent in case of Businesses and Professionals required to get Tax Audit conducted.TDS on Rent is liable to be deducted by the person making the payment if the total amount to be paid during the year exceeds Rs. 1,80,000 p.a. This limit of Rs. 1,80,000 p.a. is per taxpayer.

>>For Example  Rahul is paying a rent of Rs 52,000 per month to Ankit. Now as per the changes in budget 2017, he will pay Rs 52,000/month but while making the payment of the rent for March, 2018, he is required to deduct TDS @ 5% on the total rent paid for the year F.Y 2017-18.

>>Go to Accounts > Voucher Entry > Journal > Journal :-

Rent A/C---Dr.       52,000

        Ankit A/C----Cr.                       49,400

         TDS Payable A/C---Cr.           2,600

>> Payment entry:-

Ankit A/C-----Dr.                49,400

TDS payable A/C----Dr.     2,600

        Bank A/c--------Cr.                     52,000


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