Issue with TDS amount reverse

[former_member481693]

Hello All,

We have done down payment for vendor and TDS is deducted @ 10% for the month of June and july but we supposed to deduct 2% only, We have issued check and cleared. How can we reverse document and post new document to deduct 2% TDS on the down payment.

If we print TDS certificate we need 2% amount reflect in the certificate not 10%.

Second senerio:- we have posted down payment for the next month if we reverse that document, that TDS amount also will reverse in the certificate or not.

If not how can we reverse TDS amount posted to certifice?

Please provide your inputs.

Thanks,

Ratnam

[former_member481693]

I have solved problem to post Credit memo in F-41.

Thanks

Ratnam

[former_member481693]

Problem is there still.

[Former Member]

Hi

Please check periods first, If it is posted in current period the same TDS document will possible to reverse in J1INCANC( But not clearing done at bank) and you need to maintain new tax code with 2% TDS on invoices/downpayments. and the same tax you will use while posting the transactions.the impact will effect in TDS certification also.

Regards

PVC.

[Former Member]

1st Scenario: If you want to reverse that document you can use the tc of FB08 using this you can reverse that document and post new one.

2nd Scenario : if you want to reverse your certificate also you can reverse through pathAccounting -

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Financial Accountingaccount payable-WTIndiaExtended WT---certificates -

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Reverse.

Edited by: venkata986 on Aug 31, 2010 12:06 PM

[former_member481693]

Hi,

This is urget.

Thanks,

Ratnam

[ravichandran_iyer]

If you have generated the TDS challan, reversal is not possible.

However, what you can possibly do is, you can post a TDS JV for the Vendor. There is a reversal option, which will create a reversal entry. For this, you need to configure the JV in EWT and then use J1INJV transaction to post the JV.

Ravi.

Edited by: Ravichandran S Iyer on Aug 31, 2010 3:18 PM

[former_member481693]

Hi Ravi,

Thank you so much, I think your answer is correct.

Thanks,

Ratnam