New TDS tax Code

[Former Member]

Hello friends,

I want to create a new tds tax code,so can you guide me what are the steps i have to do

Thanks in advance !

[ramakrishna_ailanani · Accepted solution]

Hello

You have do the config the Tax code, You need to maintain the rate etc..,

IMG -->Financial Accounting(New) -->Financial Accounting Global Settings(New) -->WithHolding Tax -->Extended WithHolding Tax -->Calculation -->WithHolding Tax Code

In the above path you find the steps to config new with holding tax codes.

Thanks and Regards

A.Rama Krishna

[Former Member · Accepted solution]

Thanks for yr reply but tell me one thing after defining wtac code is there any other settings also,where i will assign with co code???

[ramakrishna_ailanani · Accepted solution]

Hello,

You will not assign the with holding tax code to Company code,

You will assign the with holding tax type to company code.

You need to assign the with holding tax tyrp to with holding tax code,

Again the above assignment is part of configuration.

Thanks and Regards

A.Rama Krishna

[Former Member · Accepted solution]

Hi,

You have to assign With holding tax type with company code. not for tax code.

IMGèFinancial Accounting (New)èFinancial Accounting Global Settings

• (New)èWithholding TaxèExtended Withholding TaxèCompany Codeè

With regards

Pradeep

[Former Member]

Hi Navin,

Go to

1. IMGèFinancial Accounting (New)èFinancial Accounting Global Settings

• (New)èWithholding TaxèExtended Withholding TaxèCalculationèèDefine Withholding Tax Code

Enter Country code Eg IN.. for India

Enter With holding tax type..Eg . B1   for which you want to create Tax code ....

Enter Tax code   

Maintain the description

Percentage subject to tax     100% (TDS will be calculated for  100 % base amount )...

Select posting indicators " 1"  Standared Posting

Enter Tax rate  Eg 10%...  

Hope it will helpful

With regards

Pradeep