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author's profile photo Former Member
Former Member

TDS deduction based on expemption amount

Dear All,

Would like to know if there is a procedure to deduct TDS based on the exemption amount in the exemption letter given by vendors.

Standard setup has got exemption date range but no exemption amount.

Thanks.

Sembian

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2 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Dec 15, 2008 at 12:38 PM

    You can use the accumulation option in the withholding tax key and define maximum amount for calculation of tax on the amount range.

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 15, 2008 at 01:31 PM

    Hi,

    Go to the vendor master of the particlar vendor who has the exemption

    take the with holding tax tab there

    Withholding tax can be exempted from withholding tax up to the percentage rate you enter In the column exemption %

    hope you are clear now

    Regards

    Arun.R

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    • Former Member

      Hi Arun,

      Thanks.

      The exemption rate as mentioned by you is for a date range but not available for amount. We have received letters from vendors where exemption is not for a date range but for a amount.

      Regards

      Sembian

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