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TDS on Service Tax
Posted: Fri Jun 15, 2007 11:15 am
by rajib.banerjee
<font color="red"><span id='hl' style='background-color: yellow'>Are we to deduct tax on the total bill amount or on the amount net of service tax?</span id='hl'></font id="red"> It has been found that Oracle deducts Tax on the Gross value of the bill but asper general practice it is deducted from the value exclusive of Service Tax. Please advice....
Posted: Fri Jun 15, 2007 11:37 am
by rajib.banerjee
A more detailing of the above query...
TDS is calculated on invoice basic amount & Service Tax, not on Invoice basic amount.
Note : Patch level applied : India Localization "IN60107" + Rollup INRUP02
1. Purchase order is created with serrvice tax.
2. Invoice created with PO match and validated.
3. Credit memo for TDS amount and AP invoice for tax authority have been created automatical
ly.
4. It is observed that the TDS is calculated on invoice basic amount & service tax.
WE NEED TO Calculate the TDS on Invoice basic amount only.
Please suggest how to achieve this functionality.
Posted: Mon Jun 18, 2007 8:13 am
by rajib.banerjee
Will anybody please reply to my query??..It is urgent...