Party Ledger Account for TCS

Go to Ledger Creation(Gateway of Tally -> Accounts Info. -> Ledger -> Create). At ledger creation or alteration screen of the party from whom TCS is collected. The following information has to be entered :

Is TCS applicable : Set this 'yes' for applicability of TCS.
TCS details screen will appear, enter the following there:
Buyer/Lessee: Select appropriate type from the list given.
Is Lower/No Collection Applicable: Set this as 'yes' if there is any exemption, orelse set it to 'no'.
Section Number : This is set to 206C by default.
TCS Lower Rate(%): Set it as per rate applicable.