I have defined cumulative threshold setups but tds calculating wrongly
EX:- Threshold type cumulative i selected and amount slabs
0-10000 0%
10001 - 10%
i have entered INV Num 1 - 9000 Rs 0% tds deducted
up to here tds deducting correctly but when I enter .
INV Num 2- 3000 Rs 0% tds deducted .
Actually tds need to deduct like
9000+3000=12000-10000=2000*10/100=200.
Steps to Reproduce
1) Defined taxes codes for 0% and 10%
Nav:- India local payables-setup-Tax-Taxes
2)Defined Supplier additional information and selected default tax ID in supplier site
India local payables-Supplier-Supplier additional Information
3)Defined cumulative Exception Threshold setup for supplier
Nav:- India local payables- setup-Tax-India Threshold setup
Selected Threshold type cumulative
amount slabs
0 to 10000 0%
10001 10%
Assigned amount slabs to Taxes.
Enabled Exception setup assigned vendor.
4) Created First invoice for 9000 and second Invoice for 3000
Oracle Payables-Invoices-entry-Invoice batches
please do the needful.
Regards
Phani
TDS wrongly calculating Cumulative threshold suppl
-
- Posts: 33
- Joined: Sat Mar 29, 2008 10:08 am
- Location: India
-
- Posts: 39
- Joined: Fri Jul 31, 2009 8:30 am
- Location: India
Hi Phani,
Follow the followign steps.
1) define New Suppler and site.
2)define Additional Information dont attached any tax code on vendor site.
3)Define Threshold setup.
From 1000 to 0 and then put tax perencatege
dont put like 0 to 1000 tax percenate -0
and 1001 to infinite tax percentage10 or what ever.
Threshold limit l
from to tax percentage
1001 Nil Put percentage
tax will be geerated.
Regards
Amit
Follow the followign steps.
1) define New Suppler and site.
2)define Additional Information dont attached any tax code on vendor site.
3)Define Threshold setup.
From 1000 to 0 and then put tax perencatege
dont put like 0 to 1000 tax percenate -0
and 1001 to infinite tax percentage10 or what ever.
Threshold limit l
from to tax percentage
1001 Nil Put percentage
tax will be geerated.
Regards
Amit
Hi Amit,
I have 3 slabs. could you explain.
In this scenario, how to define this Slabs. Please clarify.
Regards,
Yknev
I have 3 slabs. could you explain.
Code: Select all
1. Cumulative 0 - 1000 Nil Rates
2. Cumulative 1001 - 2000 2%
3. Cumulative 2001 - 3000 4%
Regards,
Yknev
Hi Phani,
According to the standard functionality of the Indian Localization, When you create some threshold for cumulative, say in your case it is till 10000. When the total outstanding amount to a particular supplier under that category of vendor type and section crosses 10,000 the system will calculate TDS amount (Based on the % given) for total amount i.e. for 12000(Incase) and not for the difference amount i.e., 2000.
Regards
According to the standard functionality of the Indian Localization, When you create some threshold for cumulative, say in your case it is till 10000. When the total outstanding amount to a particular supplier under that category of vendor type and section crosses 10,000 the system will calculate TDS amount (Based on the % given) for total amount i.e. for 12000(Incase) and not for the difference amount i.e., 2000.
Regards
Who is online
Users browsing this forum: No registered users and 26 guests