The Expense Module in DAAI Business Suite ensures accurate GST and TDS calculations through automated features:
- GST Calculation:
Users must manually enter the GST amount in the expense form. Once entered, the system automatically sums the GST with the total expense amount, ensuring that the total cost, including tax, is accurately reflected. - TDS Calculation:
If TDS is marked as true in the expense form, the system calculates the TDS amount based on applicable rates and deducts it accordingly. After saving the expense form, a TDS challan is automatically generated, and the system navigates to the challan form for easy processing.
These automated features ensure compliance with tax regulations and simplify tax reporting and payment.