Skip to Content
0
Former Member
Jun 10, 2011 at 10:49 AM

Steps to create new Tax Code

125 Views

Dear all,

Please let me know the steps to create new tax code for WCT(Work Contract Tax) as per given conditions .

Description: WCT @4% + Service Tax @10.3% on 33% of Basic Value.

Basic Amount : Rs. 10,00,000

Add : WCT @4% on Basic Amount (Deductible) : Rs. 40,000

Add: Service Tax @10.3% On 33% of Basic Amount : Rs. 33,990

Total Order Value with taxes : Rs. 10,73,990

TDS deducted @2% of Total Order Value(Deductible) : Rs. 21,479.8

( Please note: WCT @4% to be deducted : Rs.40,000.00

TDS deducted @2% on Total Order Value : Rs.21,479.80 )

Thanks & Regards,

Ashutosh