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CIN requirement In a fiscal year Upto 30000 at 2% More than 30000 at 10%

Hi Experts,

our client has requirement .its about cin. Client needs calculate tds upto 30000 3% more than 30000 percentage would be 10.

In a fiscal year

Upto 30000 at 2%

More than 30000 at 10%

can any one tell me configuration for this requirement how i want processed further .

Regards

Diwa

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6 Answers

  • Best Answer
    Posted on Sep 18, 2013 at 05:03 PM

    Hi Diwa

    Step 1 : tax type. In tax type select appropriate Accumulation type:

    If your company use calender year, accumulation type will be "per calender years"

    otherwise select "per year, starting with month" and enter starting month.

    Step 2: tax code. don't put any tax rate in calculation area. select w. tax from.

    Step 3: enter tax formula for the tax code like:

    To base amount whldtax Redrt Redu. Base amt

    30000 2

    999999999999 10 30000

    save

    http://scn.sap.com/community/erp/financials/blog/2013/07/14/withholding-tax-india-cin

    Regards

    Nakul

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  • Posted on Sep 24, 2013 at 09:06 AM

    Hi Nakul,

    i followed your configuration its working fine.here we have one scenario we had set limit for

    up to 1000000 3 % more than 100000 tax rate will be 10%. here we have posted invoice for 200000 entry will be expenses a/c.....Dr 200000

    vendor a/c..Cr 187000

    Tds payable Cr 13000

    here user wants two tds gl account one tds gl account for exemption amount that is 3000 another gl account with 10000 how to do it Please help me on this.

    Thanks&Regards

    Diwa

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    • Former Member

      Hi,

      According to me, for your requirement of other GL for 3000 & other GL for 10000, what you can do is create two Withholding Tax Code and then asssign both to the Vendor Master. Then in formulas for both tax Code mention for one tax code:

      To base amount whldtax Redrt Redu. Base amt

      30000 3

      999999999999 0 30000

      For other Tax Code you mention in formula:

      To base amount whldtax Redrt Redu. Base amt

      30000 0

      999999999999 10 30000

      And then assign the GL accordingly.

      Regards,

      Malhar.

  • Posted on Sep 25, 2013 at 11:37 AM

    hi

    can you please explain me how to reach out above requirement without creating tax code. because we have number of vendors where they are having different tax exemptions so its not possible to create tax codes vendor wise. so please help me on this

    Thanks&Regards

    Diwa

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  • Posted on Sep 24, 2013 at 09:06 AM

    Hi Nakul,

    i followed your configuration its working fine.here we have one scenario we had set limit for

    up to 1000000 3 % more than 100000 tax rate will be 10%. here we have posted invoice for 200000 entry will be expenses a/c.....Dr 200000

    vendor a/c..Cr 187000

    Tds payable Cr 13000

    here user wants two tds gl account one tds gl account for exemption amount that is 3000 another gl account with 10000 how to do it Please help me on this.

    Thanks&Regards

    Diwa

    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Sep 24, 2013 at 09:06 AM

    Hi Nakul,

    i followed your configuration its working fine.here we have one scenario we had set limit for

    up to 1000000 3 % more than 100000 tax rate will be 10%. here we have posted invoice for 200000 entry will be expenses a/c.....Dr 200000

    vendor a/c..Cr 187000

    Tds payable Cr 13000

    here user wants two tds gl account one tds gl account for exemption amount that is 3000 another gl account with 10000 how to do it Please help me on this.

    Thanks&Regards

    Diwa

    Add a comment
    10|10000 characters needed characters exceeded

  • Posted on Sep 25, 2013 at 11:16 AM

    Hi all,

    we have number of vendors where they are having exemption percentages.it is not possible to create vendor wise tax codes is there any other way to overcome this requirement.

    Regards

    Diwa

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    • Former Member Diwa p

      Hi,

      The Tax Code you would define would be standard rated, this tax code assign in the Vendor master data.

      Based on the percentage provided for each vendor , you can specify the exemption certificate number, date effective and save it.

      The process the invoice for the vendor. That should work.

      Let me know if this resolves your question.

      Note-

      ======================

      You have the following options for clearing documents despite these warnings:

      • Change the posting date for clearing, so that the relevant withholding tax types are the same on the posting date and on document entry.
      • Change individual documents using the document change function: To do this, you delete the withholding tax code in withholding tax types that are no longer relevant, and then save new withholding tax types.

      • Start report RFWT0010.
        Once you have changed the relevant withholding tax types, this report adjusts the open items to take account of the current relevant withholding tax types. It either creates new withholding tax information, or changes existing information.

      ===================

      Remember these steps before you process new documents.

      Regards

      K.R

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