Tax deduction at different rate

[former_member7439]

Hello,

We have a scenario whereby tax is applicable to some vendors at lower rate upto a fixed amount and then after the value is reached , tax has to applicable at normal rates.How do we handle the same.

Regards

[former_member198650 · Accepted solution]

Hi SR,

You have to create a new withholding tax type & code and in the define formulas for w.h.tax type & code as shown below:

And do rest of configuration as usual.

Regards,

Mukthar

[former_member7439 · Accepted solution]

Hello,

Our query is more towards that the TDS application the total transaction value during a period of year should not exceed threshold amount.

Pls do guide

[former_member198650 · Accepted solution]

Hi,

At the time of tax type configuration, you have to select accumulation type and select the month as 4.

Regards,

Mukthar