Creation of TCS Ledger Account

First go to Ledger Creation screen(Gateway of Tally -> Accounts Info -> Ledger -> Create) and enter the following details:

Name : Enter the name of the ledger account to be opened.For example TCS on Timber Ledger.

Under : Ledger should be created under Duties and Taxes.

Type of Duty/Tax : Select TCS from the list given.

Nature of Good/Contracts/Licence/Lease : Select the nature from the list provided.You can view the details of the TCS rates from Gateway of tally -> Display -> Statutory Info -> TCS Nature of Goods.

Inventory values are affected : Set this as 'No'.