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useraccounts19
Level 1
posted
‎January 18, 2021 09:11 PM
last updated ‎January 18, 2021 9:11 PM

TDS rate under section 194J @ 7.5% is not enabled in Quickbooks which is widely used rate of TDS. aAlso we would like to add CSB Bank to our quickbooks with your help

 
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1 Comment 1
Kristine Mae
Moderator
Moderator
‎January 18, 2021 11:47 PM

TDS rate under section 194J @ 7.5% is not enabled in Quickbooks which is widely used rate of TDS. aAlso we would like to add CSB Bank to our quickbooks with your help

I'll provide how TDS is calculated in QuickBooks Online, Useraccounts19.

 

The calculation is based on the threshold defined under the provisions of the Indian Income Tax Act. Under section 194J, any sum or amount paid by way of technical services is 10%. That's why 7.5% is unavailable. You can refer to these articles to guide you:

Concerning adding the bank account, you can refer to this article: Add an account to your chart of accounts in QuickBooks Online.

 

However, if you're referring to connecting your bank account to QuickBooks Online, we have a different way to do that. Here's the article for the steps: Connect bank and credit card accounts to QuickBooks Online.

 

Once it's connected, you can categorise the transactions. 

 

Get back to us if you have other concerns. We're around to help you out. Take care!

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