Skip to Content
author's profile photo Former Member
Former Member

wht

(1) while defining tax type why we are selecting no accumulation radio button?

(2) while we are defining withholdong tax type for payment posting why we are selecting central invoice radio button?

(3) while defining withholding tax type why we are selecting "inherit check box" only for EDcess on basic tax type and EDcess on surcharge tax type?

(4) While defining surcharge rates which amount we consider either gross amount or tax amount.

Plz can anyone tell abt this

Regards

Assign points

Add a comment
10|10000 characters needed characters exceeded

Assigned Tags

Related questions

1 Answer

  • author's profile photo Former Member
    Former Member
    Posted on Sep 11, 2007 at 03:48 AM

    Hi,

    Accumulation radio button is not meant for all. For an example take rent the minimum amount is 100000. first you post a invoice for the amount of 20000 at this situation the system will not deduct any tds amount. because it is below the minimum amount and tax code is defined under accumulation. When it reaches 100001 the system deduct TDS from 1 on words.

    If you are not choose the option accumulation then system will deduct on month basis. so if the invoice amount exceeds the minimum amount the only the system will deduct TDS if not every month it will not deduct any thing . Because of that reason accumulation button has to be choose for some sections.

    IF you are using Extended withholding tax then u have to choose this one because if is there any partial payments and clearing, down payments and clearings then these all are system can consider.

    IF u are using portary dependencies then only u have to choose inherit check box and it is meant tax amount only not for gross amount.

    As per knowledge gross amount

    Hope this is clear, if yes assign points,

    Regards,

    Sankar

    Add a comment
    10|10000 characters needed characters exceeded

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.