Withholding Tax

[Former Member]

Hi,

Can anyone through some light on my doubt, Need to know the differences between Withholding Tax and Extended withholding Tax.

Thnx

[Former Member]

Hi,

Classic Withholding Tax (All release) ,Extended Withholding Tax (from release 4)

Difference between the two

S.No Individual Function Classic Extended

1 Withholding Tax on Outgoing payment- Yes Yes

2 TDS on Incoming payment NO Yes

3 TDS at the time of Invoice no Yes

4 TDS on partial payment Yes

5 No. of withholding tax from each document Max 1 Several

6 TDS basis

- Net amount Yes Yes

-Gross amount Yes Yes

-Tax amount x no Yes

7 Rounding rule no Yes

8 Cash discount consideration no Yes

9 Accumulation no Yes

10 Minimum/Maximum amt and exemption no Yes

11 Certification Numbering no Yes

12 Calculation Formula Yes Yes

Regards,

Kiran

[Former Member]

Dear friend,

Extended withholding tax has more functionalities than classic withholding tax.

This topic is already discussed many times in this forum.check below links

?

Anil

Edited by: Anil Anand on May 6, 2009 1:23 PM

Edited by: Anil Anand on May 6, 2009 1:33 PM

[Former Member]

HI,

extended withholding tax is the advanced one

and withholding is the old one at present most of clients are following extended withholding tax.