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TDS calculation wrong in AP invoice

peddinti_pratap
Participant
0 Kudos

Dear Experts,

There is a threshold limit of Rs.1,80,000/- for deduction of TDS on rent, now the problem is at the time of accounting AP invoice for this month rent TDS is calculating on value of Rs.2,11,876/- (ie jun13 rent 30000+jul13 rent 62000-jul13 reversed (ap credit memo)62000+jul13 new entry passed for jul13 rent 60000+aug13 rent 60000)


Actually it should consider for deduction of TDS for Rs.1,50,000/- (ie.jun13 rent 30000+jul13 rent 60000+aug13 rent 60000)

hence there should not be any TDS deduction in this month also, but it is calculating TDS without considering AP Credit memo.

please help me this problem.

Thanks&regards,

P.Pratap

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Dear Pratap,

I think you didn't reverse the TDS Amount in AP Credit Memo. You have Made 4 Transaction including one reversal transaction.  isn't it?

But at the time of reversing the A/P invoice through A/P Credit Memo, U should allow the system to Reverse the TDS also. Please Ensure that.

Regards,

Kalaiyarasan

Answers (2)

Answers (2)

Former Member
0 Kudos

Hi,

You can user the 'TDS -> Adjustment Entry' option against that Invoice to adjust the TDS amount.

Hope that helps.

Thanks,

Priya

peddinti_pratap
Participant
0 Kudos

Hi Priya,


Here the problem is sys calculating TDS with out Considering AP credit Memo.actually it should consider for deduction of TDS for Rs.150000 ,hence these should not be any TDS deduction in this month also.


Regards

Pratap

Former Member
0 Kudos

Hello,

Yes.  I have tried this scenario.  As the Invoices are added and once the 'Threshold' is crossed, system starts deducting the TDS.  It does not consider 'Credit Memo' amount.  Hence 'Adjustment Entry' option can be used.

Hope that helps.

Thanks,

Priya

former_member196081
Active Contributor
0 Kudos

Check 'Threshold Overlook ' check box is checked or unchecked for that perticuler Business Partner.