Skip to Content
avatar image
Former Member

Withholding tax calculation based on formula

Hi,

I am trying to apply some formula while calculating the withholding tax to a customer invoice.

I have used the formula range as:

10% upto 1000

20% for 1001-2000

30% for 2001 and above.

However the formula is calculating correctly for the range till 1000 but above 1000 the formula is not working properly. Kindly help me to resolve the problem.

I have configuration for your ref find the below attached file  , but at the invoice for e.g Invoice amt Rs 1500 . that time system deducted Rs .200 , why  this happening

WH Type

Thanks in advance

simulate fb60.png (12.7 kB)
formula 2.png (68.9 kB)
wht type.png (80.3 kB)
formula 2.png (68.9 kB)
Add comment
10|10000 characters needed characters exceeded

  • Get RSS Feed

3 Answers

  • avatar image
    Former Member
    Dec 31, 2014 at 03:12 PM

    Hi Jay,

    You have given config for the Tax type only. Request you to check config of relevant tax code also.In tax code there is one check box which need to select to make special  calculation.

    i have attached screen shot for your reference where W.tax form tick is necessary to make special calculation


    Add comment
    10|10000 characters needed characters exceeded

  • avatar image
    Former Member
    Dec 31, 2014 at 03:45 PM

    Hi Dhaval ,

    Wish u happy new year,,,

    Thank you sir for your immediate reply  😊 😊,  i already tick above WHT tax cod. i have done all confi step .

    However the formula is calculating correctly for the range till 1000 but above 1000 the formula is not working properly. Kindly help me to resolve the problem. for your reference see above attached scree shot. for e.g

    rate         amt

    10% upto 1000

    20% for 1001-2000

    30% for 2001 and above.

    when i am  invoice posting Rs 1000 System calculate proper , when i going to posting invoice Rs. 2000 system not calculate correct amt. system calculate TDS amt is Rs .300 , but in configuration i have maintained 2 % rate. for ref find the below screen shot. Pls help me !!



    Thanks & Regards

    Ajay Pal


    e.g. not cal.png (13.7 kB)
    e.g. not cal.png (13.7 kB)
    Add comment
    10|10000 characters needed characters exceeded

  • avatar image
    Former Member
    Jan 02, 2015 at 09:14 AM

    Hi Jay,

    I have gone through your config. of tax code and tax types.

    In formula for calculating with holding tax :

    up to 1000 if u want to deduct nil than provide 0% or keep it blank.

    from 1000 to 2000 , if u want to deduct tax 200 provide tax rate @ 20%.

    and accordingly configured it.

    if u still not clear , request you to provide me your exact slab and rate of tax.

    Will configure in my system and give u detail document.

    Regards,

    Dhaval Shah.

    Add comment
    10|10000 characters needed characters exceeded