How to: Set Up Concessional Codes
You must define concessional codes as one of the prerequisites to calculate Tax Collected at Source (TCS) deductions or Tax Deducted at Source (TDS) deductions that are authorized for concessional rates. For more information, see How to: Set Up Tax Collected at Source or How to: Set Up Tax Deducted at Source.
The following procedure describes how to set up concessional codes for TCS, but the same steps also apply to setting up concessional codes for TDS.
To set up concessional codes for tax collected at source
In the Search box, enter Concessional Codes, and then choose the related link.
On the Home tab, choose New.
Fill in the fields as described in the following table.
Field Description Code
The unique concessional code available to the assessee.
Description
The concessional code description.
Choose the OK button.
See Also
Tasks
How to: Set Up Nature of Collection Lines
How to: Set Up Tax Deducted at Source
How to: Set Up Tax Collected at Source