TDS Set Ups

[chicku2007]

Can you please send me TDS&SVC Tax set up India Loc docs in my mail id:joydip_mukherjee@yahoo.co.in<b></b>

[mpdhas@gmail.com]

Hi,

The following are the steps regarding TDS
1)Define the Tax code in AP . Navi: Setup - Tax - Taxes
2)Select the tax Type as Tax deducted at source
3)Give the Tax name and rate of Tax
4) Create the Income Tax Authority as supplier
5) In the supplier Classification Tab , Type field select Tax Authority
6) Create Sites for the supplier Income Tax Authority based on TDS sections. For Example. Sec 194 C NON- COMPANY, SEC 194 C COMPANY, SEC 194 J COMPANY, SEC 194 J NON - COM etc
7) Attach respective GL codes in the site for the liability account
For the supplier to whom TDS is involved, Go to Supplier - Additional Information form. Query the supplier and save it. Go to TDS Details . Here give the PAN NO, TAN NO, WARD NO and attach the respective TDS Sections applicable to this supplier. Enable the Check box " Create Pre- Approved TDS Invoice Credit Memo"
9) Create a Invoice in AP against the supplier with TDS Information attached.
10) In the distribution after giving GL code fill up the DFF in India Distribution. Here attach the applicable TDS code.
11) Validate the Invoice. On validation system will automatically generate a TDS invoice for the Tax authority and a CM for the supplier.
12) Both the CM and TDS Invoice are suffixed with the original invoice number.
13) While making payment to the supplier , in the payment window select the original invoice and the TDS credit memo relating to that nvoice. It can be identified as it is suffuixed with the original Invoice number.
14) TDS should be attached while making prepayment and subsequently on standard invoice also.
15) Never cancel a TDS Invoice. If u felt the TDS is wrong then cancel the original invoice . System will automatically cancel the respective TDS invoice also.

Hope you got some idea about TDS invoice functionality

Regards,
Dhas

[Prasenjit24]

Please mention the version of your application.