Hi All,
I made a down payment of 50000 to a vendor and deducted tds. Than i received an invoice of 1lac. Now, the errors are:-
1) The system is calculating tds on whole invoice instead of the balance amount.
2) TDS challans are getting created of only TDS amount from the Down payment.
3) GL account of TDS payable only pays off and clears the TDS on Down payment and TDS on invoice is still open and payable.
4) In Tax Types i have selected Central Inv. Prop. than why the system is not adjusting the Down payment against the Invoice?
Please advice.
Thanks,
Kamal