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

Triple deduction of TDS

TDS is being deducted at the time of Vendor Down Payment, Invoice Posting and also at the time of Making the Payment through f-53 which should not deduct.

Can anyone help where I am going wrong.

Regards

Ravindra

Add a comment
10|10000 characters needed characters exceeded

Assigned Tags

Related questions

3 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Nov 30, 2007 at 02:06 PM

    Once you book Inovice you do down payment adjustment thru f-54. This will nullify the effect of the tax deducted at the time of advance payment. Further it is quite possible that you have selected payment as well credit tds codes while booking the invoice which is why the tds is getting deducted at payment time also.

    Regards

    Mukesh Mangal

    Add a comment
    10|10000 characters needed characters exceeded

  • author's profile photo Former Member
    Former Member
    Posted on Dec 01, 2007 at 05:44 AM

    Did this help? If yes please assign points

    Mukesh

    Add a comment
    10|10000 characters needed characters exceeded

    • Former Member Former Member

      The function of f-54 is to reverse the tax effect of the advance amount. When you adjust the advance using f-54 in case the advance and invoice amount are equal the tax effect would be nil. The TDS amount does not get cleared automatically in the TDs gl. I also felt the same way earlier but of usage and facing various issue I find the logic as defined okay.

      Regards

      Mukesh

  • Posted on Dec 01, 2007 at 06:53 AM

    hai when u made the advance payment the system should have deduteced the tds and posted to the tds payable a/c. again at the time inoice posting if the amount of the invoice is equal to advance made , we should not the reduce the tds again. for this remove both the tax codes from the pop up screen displayed while posting the vendor invoice. if the amount of the invoice is more than the advance paid then the system should reduce the tds only on the excess of the invoice over the advance amde. for this u can enter the amount on which the tds is to be reduced manual in the pop up screen while posting the invoice against the tax type for invoice posting. i think this will clear ur problem

    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.