9 Replies Latest reply: Dec 5, 2011 11:11 AM by Om prakash Gupta RSS

How to maintain Exemptions in TDS Deduction

Om prakash Gupta
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Dear Expert,

 

First of all Thanks for the Extensive support till date.

 

There is a Typical Scenario in my company. There are few vendors for which Goverment has given exemption on TDS to a certain amount.

For e.g. Say for Vendor A Government has  authorize to deduct  TDS of 0.01% upto Rs 1290823/- and above that there will be normal deduction of 10% TDS.

No keeping in mind the above scenario the system should automatically check while making a voucher posting that the total amount or payment made till date to the vendor has crossed the above said amount or not.

If the total transaction till date for the above said vendor is below the above amount the TDS percentage would be 0.01% else it will be 10%.

 

Is there any way to configure the Witholding tax in the standard form meeting the above requirement or is there any alternative to it.

 

 

Thanks & regards

 

Om prakash Gupta

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