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Apr 11, 2016 at 10:36 AM

Calculation Logic In taxes.

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Hello,

I have a scenario, where in there is a logic in taxes and its based on mutual understanding between mu=y client and his vendor.

The logic is as follows;

Total amount-----------100

Tax exempted----------40

Taxable amount--------60

Tax rate-------------------14%

Now my client pays 14% on 30

Vendor pays 14% on remaining taxable amount 30.

Can we build in standard FTXP. Kindly suggest any inputs. It will be highly valued.

Regards,

Shyam.