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Former Member

7Q322 Withholding tax amount equals the customer/vendor line item amount 001

Hi All

I am facing an error in withholding tax.

I have a scenario where I pay 111000 rent.

This is the first invoice i am raising for 11000.

I am going with tax rate 10%.

I am getting an error like with holding tax amount equals the customer/vendor line item amount 001.

System can't pass through the entry,

can anyone help me with this,

Thanks & regards,

vasu.

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4 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Nov 08, 2012 at 01:58 AM

    Sorry in my above question the rent i am willing to pay 11000.

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 12, 2012 at 08:44 AM

    Hi

    Check your tax code whether posting ind 1 is there or not.

    Regards

    Sampad

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  • Posted on Nov 13, 2012 at 06:12 AM

    Hi,

    Please check your Withholding Tax type configuration. what you have maintained for Base amount calculation?

    Regards

    Diptadhi

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  • author's profile photo Former Member
    Former Member
    Posted on Nov 15, 2012 at 10:33 AM

    Hi Vasu,

    Check the With holding tax configuration. Request you to have basic idea aboout how system calculates WHT.

    Entry should be like:

    Before TDS

    Rent Account 11,000 Dr

    Vendor Account 11,000 Cr

    with TDS

    Rent Account 11,000 Dr

    TDS Payable A/c 1,100 Cr

    Vendor Account 9,900 Cr

    check with holding tax code rate. It should be 10%.

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