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Extended Witholding Tax Scenario (India)

Jan 28, 2017 at 07:19 AM

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Murtaza Vohra

Hi,

I was asked a question in an interview and i wasn't able to answer that. Hope any one here might be able to help.

Question : How the configuration will be done in Extended witholding tax (India) where invoice is raised of rs 10000 and charging tax only on 6000.

FIN Posting and Taxes
FIN (Finance) | extended witholding tax
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Soumya Ranjan Answered Jan 31, 2017 at 07:21 AM
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Hi,

For configuration part , i think the base amount should be charged of on 60% in stead of 100%.

Regards

Soumya


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Murtaza Vohra
Feb 26, 2017 at 05:21 AM

Thank you for the answer.

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Shinas Hamsa Answered Jan 29, 2017 at 01:20 PM
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TDS at the time of invoice Posting..

If i understood Your Question;

Expenses Dr. 10,000

Vendor Cr. 6000

TDS Cr. 4000

Could you elaborate your Question, Plz

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Murtaza Vohra
Feb 26, 2017 at 05:21 AM

no,

if Suppose 10% TDS is deducted then what i am asking is

Expenses Dr. 10000

Vendor Cr. 9400

TDS cr. 600

(TDS being charged only on 60% of the invoice amount)

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