on 07-17-2008 11:15 AM
Hi,
I configured the WHT of payment and Invoice and assigned the same to the vendor. I made the WHT base as manual and posted the amount manually both at the time of down payment and at the time of invoice.. But the system is again deducting the TDS while I am making the payment to vendor through APP. Could you please explain what settings I have to do in order to not to deduct TDS at the time of APP
Advance Thanks
Koteswara Rao
Hi Koteswara Rao,
Withholding Tax will be deducted Payment or invoice which ever is before. Hence, here if you paying any advance you will be deducting W.Tax. In the customer master in WTax tab you need to assign both tax codes i.e. Downpayment and invoice Tax codes
while making advance to vendor you will not be having any problem. in case you booking inovice then you have remove (FB60 ) Payment Withholding tax code in Taxes tab. otherwise when you make the final payment to the vendor it will be deduct 2nd time also.
so if you booking invoice you have to remove the advance Withholding tax code.
try this. it works
Vara
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.
Hi,
The system is actually reversing the TDS that was deducted while down payment.
Hence nullifying the extra TDS.
Hope its clear for you.
Cheers
Raghu
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.
Hi,
It is not nullifying it is deducting again at the time of payment.
At the time of advance payment
Vendor a/c Dr 5000
To TDS 100
To Bank 4900
At the time of invoice posting ( invoice is for 10000)
Exp A/c dr 10000
To TDS on 5000 100
To Vendor 9900
When I am tryingto make the payment of balance 5000 through APP it is deducting again 100/- and paying only 4900 to vendor.. Hope this is clear and please now tell me what the problem
User | Count |
---|---|
85 | |
7 | |
6 | |
4 | |
3 | |
3 | |
3 | |
3 | |
3 | |
2 |
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.