OpenERP and TDS support

As promised, here I am with the basic TDS functionality for OpenERP, Indian standards.

Please refer Income_tax_in_India for details related to Indian tax structure.

Features:

  • TDS linked with Invoice Line
  • Accounting TDS and Deduction
  • TDS with Lower and Zero Rate
  • Accounting TDS and Deducting it Later
  • TDS Helper for paying TDS to Govt
  • Viewing TDS Pending, payable, zero/reduced rate

Legal Reports:

  • Form 16A
  • Form 26Q
  • Form 26Q Annexure
  • Form 27Q
  • Form 27Q Annexure
  • Form 26A
  • Form 26A Annexure
  • Form 27A
  • Form 27A Annexure

Download Link:

To provide core functionality,

https://code.launchpad.net/~e-ndicusteam/openerpgit/account_india_tds

To provide legal reports,

https://code.launchpad.net/~e-ndicusteam/openerpgit/account_tds_report

Configuration Steps:
Once installed the two modules,

Go to Accounting ->Coniguration ->Financial Accounting -> TDS

You will see three sub-menus,

  • Nature of Payment
  • Deductee Types,
  • Deductors,

Nature Of Payment:
Enter the details like code,name. From this window, create a section and link it here.
Choose a Duties&taxes account, where all the TDS amount related with this Nature of payment will be encoded.

Deductee Type:
This is the important part,
Enter a name,choose residential status.

In deductee line tree, add a new line.

Choose a nature of payment and enter respective Tax rates.
Date from is the start date, For eg April 1,2011.

Feed the exemption limit for respective taxes.

Deductors:
Enter name,designation and choose a address.This is only useful for TDS reports which are to be filed.

The next step is to configure the respective accounts,

There are three types of account,
1) Patner account
2) Expense account
3) TDS account (Chosen in the nature of payment)

Partner Account:
Go to the partner account, for eg,Creditors.
Enable TDS applicable check box and choose a deductee type created before.

Advanced TDS entries for Lower/Zero tds deductions, where you can overwrite the default tax rates.

Expense Account:
Go to the expense account, For eg, Expense.

Enable TDS applicable and choose a Nature of payment and leave deductee type empty.
Raising Invoice with TDS:

Navigate to Supplier Invoice, create a new invoice as usual.

In invoice line, enable Is TDS applicable and deduct now options.

Now in invoice main window, press ‘Gen TDS’ button before approving invoice.Then click compute taxes button, which will populate tds amount field.

You can now approve the invoice and check the Residual amount.

TDS Payment to Government:

TDS helper aids for TDS payment.
Navigate to Accounting -> Suppliers -> TDS helper.

Fill the fields,

This will create a payment voucher against a partner named, GOVT (yes it is hardcoded as of now ).

To validate the payment, you need to re-visit supplier payment and validate the TDS voucher, just created.

TDS Payables/Pending:

To see pending and paid TDS amount,go to TDS Main menu item.
TDS Main -> TDS entries and filter the needed reports.

Note: There is a known bug which affects TDS searching TDS paid entries; they are not being properly updated.

Reporting:
Visit, Accouting -> Legal reports -> TDS reports.

You will find quartler and annual reports for 26 and 27 with annexure for both report along with Form !6A.

Demo Video:

Notes:

1) The current module may not fulfill all TDS related stuffs, still we believe, is a good start. We request you people to consider this version as alpha release and report bugs/blueprints in the lauchpad pages. We are open to get feedbacks and improve things.

2) https://code.launchpad.net/~e-ndicusteam/openerpgit/account_voucher_cheque is a dependent module for reporting module.

Who we are:

We, E-ndicus, is an Opensource technologies based organization, an official OpenERP partner, from Chennai.

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