Dear estemeed members,
A requirement of my client is that if the invoice amount crosses Rs.50,000,000, the withholding tax should be calculated at 2%. If the amount is less than Rs.50,000,000, then the withholding tax should be calculated @ 0.25%. Currently, the system is capturing only @ 0.25% irrespective of the threshhold limit of Rs.50,000,000.
I have tried maintaining an exmption amount of Rs.50,000,000 and percentage in the vendor master. It is not working. Or maybe I am doing it wrong. Please find attached the screenshot. I4 tax code is configured at 2%. I4 should capture 0.25% if amount is below Rs.50,000,000. Currently it is capturing @0.25%.
How can this be achieved using a single tax code? Please advise and guide with the steps. Greatly appreciate all the help!
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