[URGENT] : Withholding Tax Amount

[Former Member]

Hi,

Can i show w/h tax amount for individual invoice line items or can only define w/h tax for a particular base amount defined for an invoice. In such a case when i make payment thru F-58, it actually is calculating the w/h tax on the payment being made proportianatly on the total amount instead on only the base amount.

While creating the invoice, is it possible to enter w/h tax for indv. line item.

Can some one explain me this. Also, is it possible display individual invoice line items in f-58 and show w/h tax for each while making payments.

[Former Member]

Dear Chandan,

This some related to your quetion.may be it helps you

Withholding tax amounts of the first n withholding tax postings in an accumulation period (month, quarter, or year) are taken into consideration for the calculation of withholding tax for the n+1 posting

Example:

Accumulated base amount: 1,300.00

Accumulated withholding tax amount : 90.00

Withholding tax rate: 10 %

Document to be posted: Withholding tax base 700.00

Calculation: Total base: 1,300.00 + 700.00 = 2,000.00

10 % * 2,000.00 = 200.00

Withholding tax already posted: 90.00

200.00- 90.00 = 110.00

Withholding tax of 110.00 is posted in the current document

New accumulated base amount: 2,000.00

New accumulated withholding tax amount: 200.00

Tables WTAK (vendors) and WTAD (customers) contain accumulated values for each month (per company code/vendor/calendar year/withholding tax type/withholding tax code)

If accumulation is used, the monthly values are added together for accumulation by quarter or year.

Prem

[Former Member]

Thanks for this nice explanations...

[Former Member]

Yes it is possible. while creating the invoice and also at the time of payment you can specify whatever the amount you want for indiv line items. Here two things .

1. In SPRO (configuration settings) if you tick on base, while invoice or payment system will calculate Wtax on base amount. If you tick on both base as well as manual in this case system allows you to put your own manual amount or if you do not specify any amount manually system will calculate Wtax automatically on base amount. You can put your own amount or you can specify to the system saying that calculate tax on particular amount only (for ex invoice is Rs. 10000, but you want to calculate Wtax on 5000 only, in this system will calculate only on 5000, if you put base amount as 5000).

Ex. If invoice is Rs. 10000 and you want Wtax amount should be 400 only then put 400 manually)

2. If you want to see the Wtax amounts at the time of invoice or payment,

before posting if you simulate you can see (related to Wtax always simulate before you post). after posting anyway you can see the document.

[Former Member]

Mr. Chandan Raj Singh

Yes it is possible. while creating the invoice and at the time of payment you can specify whatever the amount you want for indv line items. Here two things try to understand.

1. In SPRO (configuration settings) if you tick on automatic, while invoice or payment system will calculate Wtax on base amount. If you tick on both automatic and manual in this case system allows you to put your own manual amount or if you do not specify any amount system will calculate automatically on base amount.

2. If you want to see the Wtax amounts at the time of invoice or payment,

before posting if you simulate you can see (related to Wtax always simulate before you post).

I hope this is clear if not come back

by

Kishore

[Former Member]

Hi,

Your question is not very clear for me. Hence, I would like to drop some of views here.

Withholding Tax (TDS you are collecting from your vendor and paid this collected amount (libility) to the Income Tax department.

Here when we make the agreement with the vendor what are the steps are incurred.

1. Down Payment

2. Supply of Material - fully or partly

3. Raising Invoice - (here your liability has been created)

4. Settlement - Fully or Partly

As per the above scenrio you have to deducted TDS for Down Payment and at the time of raising invoice.

After that you have pay that amount to the income epartment.

Hope it is understandable both the end,.

Warm Regards,

Sivakumar Sathiaymoorthy

[Former Member]

Hi,

At the invoice posting You need enter business place.

At the time of jlichln you need enter Receipient type and business place.

Regards

Raju

[durgasankar_innamuri]

Hi,

You want to enter withholding tax amount manually

Or

You want to see withholding tax amount at the time of making payment to govt

Go to tcode J1INCHLN - Create Remittance Challan

here you can get withholding tax amount line item wise

Hope this is clear, if yes assign points

Regards,

Sankar

[Former Member]

Hi

WHT can be at Invoice level / Down payment time

If you enter different vendor line items, based on the line items system caluculates the WHT tax amount and base amount is nothing but the amount in vendor line item.

VVR