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Extended Witholding Tax Scenario (India)

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Hi,

I was asked a question in an interview and i wasn't able to answer that. Hope any one here might be able to help.

Question : How the configuration will be done in Extended witholding tax (India) where invoice is raised of rs 10000 and charging tax only on 6000.

Accepted Solutions (1)

Accepted Solutions (1)

former_member214876
Participant
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Hi,

For configuration part , i think the base amount should be charged of on 60% in stead of 100%.

Regards

Soumya

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Thank you for the answer.

Answers (1)

Answers (1)

shinas_rh
Participant
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TDS at the time of invoice Posting..

If i understood Your Question;

Expenses Dr. 10,000

Vendor Cr. 6000

TDS Cr. 4000

Could you elaborate your Question, Plz

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no,

if Suppose 10% TDS is deducted then what i am asking is

Expenses Dr. 10000

Vendor Cr. 9400

TDS cr. 600

(TDS being charged only on 60% of the invoice amount)